Personal Tax Rates and Allowances

Tax Rates Summary	2010/11	2009/10	2008/09
Savings Rate of Income Tax*	10%	10%	10%
Savings Rate Applies*	£0 - £2,440	£0 - £2,440	£0 - £2,320
Basic Rate of Income Tax	20%	20%	20%
Basic Rate Applies	£0 - £37,400	£0 - £37,400	£0 - £34,800
Higher Rate of Income Tax	40%	40%	40%
Higher Tax Rate Applies	£37,401-£150,000	Above £37,400	Above £34,800
Additional Rate of Income Tax	50%	N/A	N/A
Addtional Rate Applies	Over £150,000	N/A	N/A

*If an individual's taxable non-savings income is above this limit then the 10% savings rate will not be applicable.

Capital Gains Tax (Individuals)	2010/11	2009/10	2008/09
- Rate of Tax	18%	18%	18%
- Annual Exemption	£10,100	£10,100	£9,600

Inheritance Tax Threshold	2010/11	2009/10	2008/09
- Nil Rate Band	£325,000	£325,000	£312,000

 

Personal Tax Allowances		2010/11	2009/10	2008/09
		£	£	£
Personal Allowance	(aged 64 and under)	6,475	6,475	6,035
	(aged 65-74) *	9,490	9,490	9,030
	(aged 75 and over) *	9,640	9,640	9,180
Married Couples Allowance **	(If born before 6 April 1935)*	6,965	6,965	6,535
	(aged 75 and over)*	6,965	6,965	6,625
Blind Persons		1,890	1,890	1,800
Age Allowance Lower Income Limited		22,900	22,900	21,800

* Abatement of Relief for age allowance by £1 for every £2 over income limit.
** This allowance attracts relief at a rate of 10% .

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