Income Tax |
|
2011-12 |
201011 |
| Basic rate band - income up to |
|
£35,000 |
£37,400 |
|
Starting rate for savings |
|
*10% |
*10% |
| Basic rate |
|
20% |
20% |
| Dividend ordinary rate |
|
10% |
10% |
| Higher rate - income over |
|
£35,000 |
£37,400 |
| Higher rate |
|
40% |
40% |
| Dividend upper rate |
|
32.5% |
32.5% |
|
Additional rate - income over |
|
£150,000 |
£150,000 |
|
Additional rate |
|
50% |
50% |
|
Dividend additional rate |
|
42.5% |
42.5% |
| * Starting rate is for savings income up to the starting rate limit of £2,560 (£2,440) within the basic rate band. The rate applies to any balance of the limit remaining after allocating taxable non-savings income. |
| Personal Allowances (PA) |
- under 65 |
*£7,475 |
*£6,475 |
|
- 65 to 74 |
£9,940 |
*£9,490 |
|
- 75 and over |
*£10,090 |
*£9,640 |
| Married couple's allowance (MCA) |
|
|
|
|
Either partner born before 6 April 1935
(relief restricted to 10%)
Ages are as at the end of the tax year |
|
*£7,295 |
*£6,965 |
|
* Age-related allowances are reduced by £1 for every £2 that adjusted net income exceeds £24,000 (£22,900) to a minimum PA of £7,475 (£6,475) and to a minimum MCA of £2,800 (£2,670). Where adjusted net income exceeds £100,000, PA is reduced in the same way until it becomes nil |
| Tax Shelters |
|
|
|
| Enterprise Investment Scheme up to |
|
£500,000 |
£500,000 |
| Venture Capital Trust up to |
|
£200,000 |
£200,000 |
| 'Rent a Room' exempt on gross annual rent |
|
£4,250 |
£4,250 |
| Construction Industry Scheme deduction rate |
|
20/30% |
20/30% |
ISAs:
|
Overall investment limit
Including cash maximum of |
|
£10,680
£5,340 |
£10,200
£5,100 | |
|
|
|
|
