Personal Tax


Personal Allowances

  • Personal Allowance
  • under 65
  • aged 65 to 74
  • 75 and over
  • Blind Person's Allowance
  • Legal Couple's Allowance
  • over 65 (minimum)
  • 65 to 74
  • 75 and over
  • Age Allowance Ceiling
  • Age Allowance Reduction
  • 2009/2010
  • £6,475
  • £9,490
  • £9,640
  • £1,890
  • £2,670
  • £0
  • £6,965
  • £22,900
  • 50.00%
  • 2008/2009
  • £6,035
  • £9,030
  • £9,180
  • £1,800
  • £2,540
  • £6,535
  • £6,625
  • £21,800
  • 50.00%

Notes

The tax relief on married couple's allowance is at 10%

Legal couple's allowance - one of them born pre 6th April 1935.


Income Tax Rates

  • Lower Rate Band Savings
  • Basic Rate Band max
  • Starting Rate
  • Basic Rate
  • on dividend income
  • on all other income
  • Higher Rate
  • on dividend income
  • on other
  • Discretionary Trust for the none vulnerable
  • on dividend income
  • on other
  • Standard Rate Band
  • 2009/2010
  • £2,440
  • £37,400
  • 10.00%
  • 10.00%
  • 20.00%
  • 32.50%
  • 40.00%
  • 32.50%
  • 40.00%
  • £1,000
  • 2008/2009
  • £2,320
  • £34,800
  • 10.00%
  • 10.00%
  • 20.00%
  • 32.50%
  • 40.00%
  • 32.50%
  • 40.00%
  • £1,000

Personal Pensions

  • Maximum Contributions
  • Personal
  • Personal Limit
  • Employer
  • Annual Allowance
  • excess Charge
  • Life Time Fund Limit
  • Life Time Allowance Charge
  • if excess taken as cash
  • if excess taken as income
  • 2009/2010
  • 100% of earnings or £3,600 if greater
  • £245,000
  • £245,000
  • 25.00%
  • £1,720,000
  • 55.00%
  • 25.00%
  • 2008/2009
  • 100% of earnings or £3,600 if greater
  • £235,000
  • £235,000
  • 25.00%
  • £1,650,000
  • 55.00%
  • 25.00%

Tax Exempt Savings

  • I.S.A. - Annual Limits
  • I.S.A. - Cash Limits
  • 2009/2010
  • 2008/2009
  • £7,200
  • £3,600

National Insurance

  • Class 1
  • Earnings Limit
  • Lower Weekly Limit
  • Upper Weekly Limit
  • Employee Threshold
  • Employer Threshold
  • Employee Contributions
  • Below Threshold
  • Between Thresholds
  • Above Threshold
  • 1.6% reduction for Contracted Out Schemes
  • Employer Contributions
  • Above Threshold
  • 2009/2010
  • £95.00
  • £884.00
  • £110.00
  • £110.00
  • 0.00%
  • 11.00%
  • 1.00%
  • 12.80%
  • 2008/2009
  • £90.00
  • £770.00
  • £105.00
  • £105.00
  • 0.00%
  • 11.00%
  • 1.00%
  • 12.80%

Between Lower and Upper thresholds 3.7% reduction for final salary contracted out schemes.

1.4% for money purchase pension schemes.

  • Class 1a
  • On all NI - able benefits
  • Class 2 - Self Employed
  • Earnings Exemption
  • Weekly Flat Rate
  • Class 3 - Voluntary
  • Class 4 - Self Employed
  • Lower Limit
  • Upper Limit
  • Between Thresholds
  • Above Threshold
  • 12.80%
  • £5,075
  • £2.40
  • £12.05
  • £5,715
  • £43,875
  • 8.00%
  • 1.00%
  • 12.80%
  • £4,825
  • £2.30
  • £8.10
  • £5,435
  • £40,040
  • 8.00%
  • 1.00%

Inheritance Tax

  • Nil Rate Band
  • 2009/2010
  • £325,000
  • 2008/2009
  • £312,000

Widow(ers) Nil Rate Band for deaths after 8th October 2007. Increase to £350,000 in 2010/11

  • Charge on Death
  • Life Time Transfers
  • Taper relief on gifts within 7 yrs prior to death
  • 0 - 3 years
  • 3 - 4 years
  • 4 - 5 years
  • 5 - 6 years
  • 6 - 7 years
  • Business Relief
  • Let to own Ltd Company
  • Agricultural Relief
  • Overseas Spouse / Civil Partner Exemption
  • Annual Gift Exemption
  • Small Gift Exemption
  • 40.00%
  • 20.00%
  • 100.00%
  • 80.00%
  • 60.00%
  • 40.00%
  • 20.00%
  • 100.00%
  • 50.00%
  • 50.00%
  • £55,000
  • £3,000
  • £250
  • 40.00%
  • 20.00%
  • 100.00%
  • 80.00%
  • 60.00%
  • 40.00%
  • 20.00%
  • 100.00%
  • 50.00%
  • 50.00%
  • £55,000
  • £3,000
  • £250

Child Tax Credit

  • Family Element
  • Family Element new baby
  • Income Limit
  • Child Element
  • Disabled Child Element
  • Severely Disabled Element
  • Weekly Child Care Voucher
  • 2009/2010
  • £545
  • £545
  • £50,000
  • £2,235
  • £2,670
  • £1,075
  • £55
  • 2008/2009
  • £545
  • £545
  • £50,000
  • £2,085
  • £2,540
  • £1,020
  • £55

Notes

CTC reduces by 6.67% of Income in excess of limit

CTC is provisionally based on prior years income