Quick fee estimate
Tax rates and allowances
| 2007/08 | 2008/09 | 2009/10 | |
| £ | £ | £ | |
| Income Tax allowances | |||
| Personal allowance (under 65) | 5,225 | 6,035 | 6,475 |
| Personal allowance (65-74) | 7,550 | 9,030 | 9,490 |
| Personal allowance (over 75) | 7,690 | 9,180 | 9,640 |
| Married couple's allowance* (under 75 and born pre 06/04/1935) | 6,285 | 6,535 | 6,865 |
| Married couple's allowance* (over 75) | 6,365 | 6,625 | 6,965 |
| *Married Couple's allowance is given as 10% tax credit | |||
| Married couple's allowance-minimum amount | 2,440 | 2,540 | 2,670 |
| Income limit for age related allowances | 20,900 | 21,800 | 22,900 |
| Blind person's allowance | 1,730 | 1,800 | 1,890 |
| Income Tax rates | |||
| Starting rate 10% | 0-2,230 | - | - |
| Savings income starting rate at 10% | - | 0-2,320 | 0-2,440 |
| Basic rate all income except savings | 22% | 20% | 20% |
| Basic rate savings income except dividends | 20% | 20% | 20% |
| Basic rate dividend income | 10% | 10% | 10% |
| Basic rate band from | 2,231 | - | - |
| Basic rate band to | 34,600 | 34,800 | 37,400 |
| Higher rate all income over | 34,600 | 34,800 | 37,400 |
| Dividends-higher rate % | 32.5% | 32.5% | 32.5% |
| Capital Gains Tax | |||
| Annual exempt allowance | 9,200 | 9,600 | tba |
| Inheritance Tax | |||
| Individual allowance | 300,000 | 312,000 | 325,000 |
| Corporation Tax | |||
| Small companies rate | 20% | 21% | 21% |
| Marginal relief lower limit | 300,000 | 300,000 | 300,000 |
| Marginal relief upper limit | 1,500,000 | 1,500,000 | 1,500,000 |
| Marginal relief fraction | 1/40 | 7/400 | 7/400 |
| Main rate | 30% | 28% | 28% |
| National Insurance | |||
| Class 1 | |||
| Lower earnings limit (LEL)(per week) | 87 | 90 | 95 |
| Upper earnings limit (UEL)(per week) | 670 | 770 | 844 |
| Earnings threshold (ET)(per week) | 100 | 105 | 110 |
| Employees' rate (between ET and UEL) | 11% | 11% | 11% |
| Employees' rate (above UEL) | 1% | 1% | 1% |
| Employers' rate (above ET) | 12.8% | 12.8% | 12.8% |
| Class 2 | |||
| Rate (per week) | 2.20 | 2.30 | 2.40 |
| Small earnings exception | 4,635 | 4,825 | 5,075 |
| Class 3 | |||
| Rate (per week) | 7.80 | 8.10 | 12.95 |
| Class 4 | |||
| Lower profits limit | 5,225 | 5,435 | 5,715 |
| Upper profits limit | 34,840 | 40,040 | 43,875 |
| Rate | 8% | 8% | 8% |
| Rate above upper profits limit | 1% | 1% | 1% |
| VAT | |||
| Registration threshold | 64,000 | 67,000 | 68,000 |
| Deregistration threshold | 62,000 | 65,000 | 66,000 |
| Rate | 17.5% | 15% | from 01/12/2008 until 31/12/2009 |