A general anti-abuse rule (GAAR) applies across a range of taxes on transactions made after 17 July 2013.Profits that arise from oil or gas extraction, or oil or gas rights, in the United Kingdom and the UK Continental Shelf ("ring-fence profits") are subject to tax in the United Kingdom (a full rate of 30% for profits over GBP 300,000 and a reduced rate of 19% for profits below that amount). Such activities also attract 100% capital allowances on most capital expenditure. A supplementary tax charge of 10% applies to "adjusted" ring-fence profits in addition to ordinary corporate income tax.
An annual tax on enveloped dwellings (ATED) is charged on the acquisition and holding of high-value residential properties (property over GBP 500,000) through a company or other "non-natural" person. The minimum charge is GBP 3,800 for a property valued at GBP 500,000 (minimum value for 2022/23).
A bank levy is applied at 0.1% for short-term chargeable liabilities and 0.05% for long-term chargeable equity and liabilities (does not apply to overseas branches and subsidiaries held by the UK business). The first GBP 20 million or chargeable liabilities is exempt. Bank profits are also subject to an 8% supplementary tax charge on profits above GBP 25 million.
Most insurance premiums are taxed at 12% (life assurance and other long-term insurance are exempt).
There are several environmental taxes, including: a Landfill tax, a Climate change levy and an Aggregates levy.
Social security contributions made by the employer amount to 13.8% on all earnings above GBP 169 per week (the first GBP 3,000 being exempt). For 2022/23, the national insurance contributions rates for earnings and/or profits that are subject to employee, employer, or self-employed contributions are temporarily increased by 1.25%, so that employers will pay at a rate of 15.05% on all income in excess of GBP 175 per week.
Employers are required to pay 0.5% of their total payroll in excess of GBP 3 million to create a fund to support apprenticeships (with an annual allowance of GBP 15,000 to offset against payment of the levy).
The stamp duty land tax (SDLT) is charged in England and Northern Ireland on transfers of real property, with rates varying between 0% and 12% for residential properties (15% if the property is valued at more than GBP 500,000) and 0% to 5% for non-residential properties.
Similar taxes - the land and buildings transaction tax (LBTT) and land transaction tax (LTT) - are charged on Scottish and Welsh property, respectively.
A stamp duty payable by the transferee is charged at 0.5% on instruments effecting sales of shares.
A Digital services tax (DST) is levied at a rate of 2% on the revenues of large businesses that provide a social media platform, search engine, or online marketplace to UK users. The tax applies to companies with an annual turnover above GBP 500 million, of which more than GBP 25 million is linked to the participation of UK users.
A diverted profits tax, at a rate of 25%, applies where multinational companies use artificial arrangements to divert profits overseas to avoid UK tax.
Shipping companies can choose to pay tonnage tax in lieu of the normal corporation tax.
For further details, consult the dedicated page on the official governmental portal.