2008 / 09 Tax Rates
Main Income Tax reliefs
Income Tax Rates and bands
Car Benefit Assessment
Tax Free Mileage Allowances
National Insurance Contributions
Pension Contributions
Inheritance Tax
Value Added Tax
Capital Gains Tax
Corporation Tax
Main capital allowances
Stamp Duty & Stamp Duty Land Tax
Earliest due dates for payment of tax
|
Main Income Tax reliefs
| Allowed at top rate of tax |
2008/09 |
2007/08 |
| Personal Allowance |
£5,435 |
£5,225 |
| Personal Allowance (65-74)* |
9,030 |
7,550 |
| Personal Allowance (75 and over)* |
9,180 |
7,690 |
| Blind Person's Allowance |
1,800 |
1,730 |
| |
| Allowed only at 10% |
|
|
| Married Couple's Allowance (Up to 74)+* |
6,535 |
6,285 |
| Married Couple's Allowance (75 and over)+* |
6,625 |
6,365 |
| Income Limit for age-related allowances |
21,800 |
20,900 |
| |
+ only available if born before 6th April 1935.
|
* Age allowances are reduced £1 for every £2 by which income exceeds the income limit, until the age allowance is reduced to the normal allowance. Personal allowance is reduced before married couple's allowance. MCA is reduced to a minimum of £2,540 (2007/08: £2,440).
|
| |
| Important annual limits |
2008/09 |
2007/08 |
| Individual Savings Account investment |
£7,200 |
£7,000 |
| Rent a room exemption |
4,250 |
4,250 |
| Enterprise Investment Scheme investment |
* 500,000 |
* 400,000 |
| Venture Capital Trust investment |
** 200,000 |
** 200,000 |
| |
* Relief at 20% ** Relief at 30%
|
|
