 Useful Data >> |
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| Income Tax |
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| Income tax rates |
2008-2009 |
2007-2008 |
| 10% on first* |
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£2,230 |
| 20%/22% on first/next |
£34,800 |
£32,370 |
| 40% on income over |
£34,800 |
£34,600 |
| Dividends for basic rate taxpayers |
10% |
10% |
| Dividends for higher rate tax payers |
32.5% |
32.5% |
| Savings income for basic rate tax payers* |
20% |
20% |
| Savings income for higher rate taxpayers |
40% |
40% |
| Trusts within relevant property regime** |
40% |
40% |
| Dividends for trusts within relevant property regime |
32.5% |
32.5% |
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* For 2008-09 10% rate applies to savings income up to £2320. Not applicable if taxable non-savings income is above £2320.
** From April 2006 a standard rate band of £1000 applies, below this level income will be taxed at no more than 22%. |
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2008-2009 |
2007-2008 |
| Main income tax reliefs |
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| Personal allowance (basic) |
£6,035 |
£5,225 |
| Personal allowance (age 65-74) |
£9,030 |
£7,550 |
| Personal allowance (age 75 & over) |
£9,180 |
£7,690 |
| Married couple's allowance (where born before 06.04.35)* |
£6,535 |
£6,285 |
| Married couple's allowance (age 75 & over)* |
£6,625 |
£6,365 |
| Income limit for age-related allowances |
£21,800 |
£20,900 |
| Blind person's allowance |
£1,800 |
£1,730 |
| Enterprise Investment Scheme at 20%** |
£500,000 |
£400,000 |
| Venture Capital Trust at 30% |
£200,000 |
£200,000 |
| Rent-a-room relief allowance |
£4,250 |
£4,250 |
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* Allowances where relief is restricted to 10%
.** Capital gains tax deferral relief also available (limit for income tax relief to be confirmed). |
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