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UK Tax Tables
Income Tax Rates
|
| |
2010/11 (£)
|
2009/10 (£) |
| Starting rate 10% on first* |
n/a |
n/a |
| Basic rate 20% (2007/08 - 22%) on the next |
37,400 |
37,400 |
| Higher rate 40% on income over |
37,400 - 150,000 |
37,400 |
| Additional Rate: 50% |
150,000 + |
|
| |
|
|
| *for 2009/10 only applicable on savings income where it is below £2,440.00., and for 2010/11 below £2,440.00. |
| |
|
|
| Dividends |
|
|
| Basic rate taxpayers |
10% |
10% |
| Higher rate taxpayers |
32.5% |
32.5% |
| Additional rate taxplayers |
42.5% |
|
| |
| Pre-owned assets tax (£5,000 taxable threshold) |
As income |
As income |
| |
|
|
| Discretionary and Accumulation & Maintenance Trusts* |
|
|
| Standard rate band |
1,000 |
1,000 |
| Dividends (rate applicable to trusts - RAT) |
42.5% |
32.5% |
| Other income (rate applicable to trusts - RAT) |
50% |
40% |
| |
|
|
| *from 6/4/2008 A&M trusts can only be created by a parent's will, all other trusts will fall under the RPT regime. |
| |
|
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| Interest In Possession Trusts |
|
|
| UK Dividends |
10% |
10% |
| Savings, rent and trading |
20% |
20% |
| |
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| |
Top
Income Tax Allowances,
Reliefs and Credits
|
|
2010/11
(£)
|
2009/10
(£) |
|
|
|
| Given at marginal rate of income
tax |
|
|
| Personal allowance (minimum) |
6,475 |
6,475 |
| Personal allowance (age 65-74) |
9,490 |
9,490 |
| Personal allowance (age 75+) |
9,640 |
9,640 |
|
|
|
| Blind Person's Allowance |
1,890 |
1,890 |
|
|
|
| Rent-a-room tax free home income* |
4,250 |
4,250 |
|
|
|
| *restricted to £2,150 if letting
jointly. |
|
|
|
|
|
| Relief restricted to 10% |
|
|
| Married couples/Civil partnerships
allowance (age under 75 and born before 6th April 1935) |
N/A |
N/A |
| Married couples/Civil partnerships allowance
(age 75+) |
6,965 |
6,965 |
| Married couples/Civil partnerships allowance
(minimum) |
2,670 |
2,670 |
|
|
|
| Age related relief's abated by £1
for every £2 of income over |
22,900 |
22,900 |
|
|
|
| Child Tax Credit (CTC) |
|
|
| Family element |
545 |
545 |
| Family element baby addition |
545 |
545 |
| Child element |
2,300 |
2,235 |
| Disabled child element |
2,715
|
2,670 |
| Severely disabled child element |
1,095 |
1,075 |
|
|
|
| Working Tax Credit (WTC) |
|
|
| Basic element |
1,920 |
1,890 |
| Couples & lone parent element |
1,920 |
1,860 |
| 30 hour element |
790 |
775 |
| Disabled worker element |
2,570 |
2,530 |
| Severe disability element |
1,095 |
1,075 |
| 50+ return to work payment (16-29 hours) |
1,320 |
1,300 |
| 50+ return to work payment (30+ hours) |
1,965 |
1,935 |
|
|
|
| Childcare Element of WTC |
|
|
| Maximum eligible cost for one child |
£175
per week |
£175
per week |
| Maximum eligible cost for two or more children |
£300
per week |
£300
per week |
| Percentage of eligible costs covered |
80% |
80% |
|
|
|
| Withdrawal Rates for CTC & WTC |
|
|
| First income threshold |
6,420 |
6,420 |
| First income threshold for CTC only |
16,190 |
16,040 |
| First withdrawal rate |
39% |
39% |
| Second income threshold |
50,000 |
50,000 |
| Second withdrawal rate |
6.67% |
6.67% |
| Income increase disregarded |
25,000 |
25,000 |
|
|
|
| Limits for other reliefs |
|
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| Enterprise Investment Scheme (EIS) at 20% |
|
|
| Maximum Investment |
500,000 |
500,000 |
| EIS capital gains re-investment |
Unlimited |
Unlimited |
|
|
|
| Venture Capital Trusts (VCT) @ 30% |
|
|
| Maximum Investment |
200,000 |
200,000 |
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Top
Charitable Giving
|
| |
2010/11 |
2009/10 |
| Give as you earn - gross maximum |
No maximum |
No maximum |
| Gift Aid - net minimum (no maximum) |
No minimum |
No minimum |
| Convenanted donations (minimum 3 year convenant) |
No limit |
No limit |
| |
|
|
| Note that if you have not paid sufficient tax to
cover the credit claimed by the charitable body, you will be liable
to make good the shortfall of that claim by paying additional tax. |
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National Insurance
|
| Class 1 |
Employees |
Employers |
| Weekly earnings |
|
|
| On first £110.00 (£105.00) |
NIL |
NIL |
| £110.01 to £844.00 (£105.01 to £770.00) |
11% |
12.80% |
| £8440.00+ (£770.00+) |
1% |
12.80% |
|
| Class 1A |
12.8% NIC on benefits in kind payable on 19th July after the end of the tax year. |
| Class 1B |
12.8% payable on PAYE Settlement Agreement benefits, tax due 19th October after the end of the tax year. |
| Class 2 |
Self employed flat rate of £2.40 per week. |
| Class 3 |
Voluntary contributions at a rate of £12.05 per week. |
| Class 4 |
Self-employed earning rate |
| |
|
| |
2010/11 |
2009/10 |
| Profits between £5,715 (£5,435) and £43,875 (£40,040) per annum |
8% |
8% |
| Profits in excess of £43,875 (£40,040) per annum |
1%
|
1% |
|
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Top
Car and Fuel Benefits
|
Car benefit is now taxed in connection with the vehicle's
Co2 emissions, based on the vehicle's purchase price when
new (up to a maximum purchase price of £80,000).
|
| Co2 emissions in grams per kilometre |
% of car's price to be taxed |
| |
Petrol |
Diesel |
| 120 or less |
10 |
13 |
| 121-139 |
15 |
18 |
| 140-144 |
16 |
19 |
| 145-149 |
17 |
20 |
| 150-154 |
18 |
21 |
| 155-159 |
19 |
22 |
| 160-164 |
20 |
23 |
| 165-169 |
21 |
24 |
| 170-174 |
22 |
25 |
| 175-179 |
23 |
26 |
| 180-184 |
24 |
27 |
| 185-189 |
25 |
28 |
| 190-194 |
26 |
29 |
| 195-199 |
27 |
30 |
| 200-204 |
28 |
31 |
| 205-209 |
29 |
32 |
| 210-214 |
30 |
33 |
| 215-219 |
31 |
34 |
| 220-224 |
32 |
35 |
| 225-229 |
33 |
35 |
| 230-234 |
34 |
35 |
| 235 and over |
35 |
35 |
|
1. The exact CO2 figure does not end in 0 or 5, round down to the nearest 5g/km for cars with emissions of 125g/km or more.
2. Euro IV diesel cars registered before 1/1/06 are treated as petrol cars. Euro IV diesel cars registered from 2006 are treated as other diesels |
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Vans
|
| |
2010/11 |
2009/10 |
| All vans regardless of age |
£3,000 |
£3,000 |
| Fuel scale charge |
£550 |
£500 |
| Electric Van |
Nil* |
|
| |
| From 2007/08 all vans regardless of age will be taxed through your tax code at a value of £3,000. |
|
| Car Fuel |
| |
2010/11 |
2009/10 |
| Charged on a flat figure of |
£18,000 |
£16,900 |
| % charge as per the Co2 emissions
above |
| Minimum charge |
£1,800 |
£1,690 |
| Maximum charge |
£6,300 |
£5,915 |
| |
|
|
| Revenue approved mileage rates |
First 10,000 miles |
Excess over 10,000 miles |
| Cars and vans |
40p
|
25p |
| Motor cycles |
24p |
24p |
|
20p |
20p |
| |
|
|
There is also an optional 5p allowance for each passenger carried who is an employee travelling on business.
* for 5 years from 06/04/2010 |
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Top
Pensions
|
| |
2010/11 (£) |
2009/10 (£) |
| Lifetime allowance |
1,800,000 |
1,750,000 |
| Lifetime allowance charge |
55% if cash |
55% if cash |
| |
25% if income |
25% if income |
| Annual allowance |
255,000 |
245,000 |
| Annual allowance charge |
40% |
40% |
| Maximum relievable personal contribution |
100% of UK earnings |
100% of UK earnings |
| |
£3,600 if greater |
£3,600 if greater |
| Maximum tax free cash |
25% of pension benefit value |
25% of pension benefit value |
|
Top
Capital Gains Tax
|
| |
2010/11 (£) |
2009/10 (£) |
| Rates of tax |
|
|
| Individuals - flat rate from 6/4/2008 |
18% |
18% |
| Companies - added to income |
21%/28% |
21%/28% |
| Discretionary and Accumulation & Maintenance Trusts |
18% |
18% |
| Interest In Possession Trusts |
18% |
18% |
| |
|
|
| Exemptions |
|
|
| Individuals and most estates |
10,100 |
10,100 |
| Most trusts |
4,800 |
4,800 |
| Chattels (5/3 taxable on excess above) |
6,000 |
6,000 |
| |
|
|
|
Taper Relief
(ceases 6th April 2008) |
|
Non-Business Assets |
| Non-Business Assets |
|
| Complete years held/owned: |
|
| 0 |
100.0% |
| 1 |
100.0% |
| 2 |
100.0% |
| 3 |
95.0% |
| 4 |
90.0% |
| 5 |
85.0% |
| 6 |
80.0% |
| 7 |
75.0% |
| 8 |
70.0% |
| 9 |
65.0% |
| 10+ |
60.0% |
| Business Assets |
|
| Complete years held/owned: |
|
| 0 |
100.0% |
| 1 |
50.0% |
| 2+ |
25.0% |
|
|
| Pre 17th March 1998 assets sold in
2007/08 |
60.0% |
|
|
Top
Inheritance Tax
|
|
2010/11 (£) |
2009/10 (£) |
|
|
|
| Nil Rate Band (NRB) or Taxable Threshold |
325,000 |
325,000 |
|
|
|
| Rates of Inheritance Tax |
|
|
| NRB |
0% |
0% |
| Chargeable lifetime gifts where in excess
of the NRB |
20% |
20% |
| On death where in excess of the NRB |
40% |
40% |
|
|
|
| Exemptions |
|
|
| Total annual gifts (for each donor)* |
3,000 |
3,000 |
| Small gifts (for each donee) |
250 |
250 |
| Gifts made from surplus income |
Unlimited |
Unlimited |
|
|
|
| In consideration of marriage |
|
|
| Gift by a parent |
5,000 |
5,000 |
| Gift by a grandparent |
2,500 |
2,500 |
| Gift by any other person |
1,000 |
1,000 |
|
Gifts made to individuals and certain types of trust are potentially
exempt, provided the donor survives for seven years. If they die within
that period taper relief (below) is available if the gift is taxable.
|
| Complete years |
% charged to IHT |
| 0 |
100% |
| 1 |
100% |
| 2 |
100% |
| 3 |
80% |
| 4 |
60% |
| 5 |
40% |
| 6 |
20% |
| 7 |
0% |
|
Top
Corporation Tax
|
| |
Financial Year |
| |
2010/11 |
2009/10 |
| Profits exceeding £1,500,000 (standard rate) |
28% |
28% |
| Profits under £300,000 (small companies rate) |
21% |
21% |
| |
|
|
| Marginal relief fraction |
7/400 |
1/40 |
| Effective marginal rate on profits between £300,000 and £1,500,000 |
29.75% |
29.75% |
| |
|
|
| Note that for close investment holding companies the 28% rate will apply regardless of profit levels. |
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Top
Capital Allowances
|
| |
2010/11
% |
2009/10
% |
| Main Writing Down allowance |
20 |
20 |
| Special Rate Writing Down Allowance |
10 |
10 |
Plant and machinery (new or second hand) |
20 |
40 |
Industrial/agricultural buildings and works/qualifying
hotels |
1 |
2 |
Long life machinery and plant |
10 |
10 |
Integral features in buildings |
10 |
10 |
Patent rights and know how |
25 |
25 |
Mines, oil wells and other mineral rights |
25 |
25 |
Research & development |
100 |
100 |
Energy saving and water efficient plant & machinery |
100 |
100 |
Plant/machinery for gas refuelling station |
100 |
100 |
| Renovation of business premises (deprived areas only) |
100 |
100 |
| Cars |
|
|
| Pre-April 2009* |
20 |
20 |
Electric Vans (New) |
100 |
- |
| Cars C02 Emissions on or after April 2009 |
Cars purchased after 6 April 2009 the annual allowances are dependent on the CO2
emissions of the car: |
|
|
| cars with CO2 emissions up to 110 g/km |
100 |
- |
| cars with CO2 emissions between 110 and 160 g/km |
20 |
- |
| cars with CO2 emissions over 160 g/km |
10 |
- |
|
* Maximum £3,000 allowance per vehicle
From 1st April 2010 there is a 100% Annual Investment Allowance (AIA) on the first £100,000 (from 06/04/2010) capital expenditure on plant & machinery (per group of companies).
Top
Value Added Tax
|
| |
From 1st January 2010 |
From 1st December 2008 |
| |
|
|
| Rates of Tax |
|
|
|
17.5% |
15% |
| Reduce rate (including fuel and power) |
5.00% |
5.00% |
| VAT as a fraction of gross price |
7/47 |
3/23 |
| |
|
|
| Annual Turnover Limits |
|
|
| Registration |
£70,000 |
£67,000 |
| Deregistration |
£68,000 |
£65,000 |
| |
|
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| Private Fuel from 6 April 2007 |
|
|
| |
|
|
| The calculation of fuel scale charges for private use of road fuel has been altered from engine size to carbon dioxide (CO2) emissions in order to bring it into line with the current personal tax regime. |
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Top
Stamp Duty & Stamp Duty
Land Tax
|
| |
2010/11 |
2009/10 |
| Stocks and marketable securities |
0.50% |
0.50% |
| Rounded to the nearest multiple of £5.00 |
| |
| On land transactions |
| |
| Residential: |
|
|
| £125,000* or less |
NIL |
NIL |
| £125,001** to £250,000 |
1% |
1% |
| £250,001 to £500,000 |
3% |
3% |
| £500,000+ |
4% |
4% |
| |
| Non-residential: |
| £150,000 or less |
NIL |
NIL |
| £150,001 to £250,000 |
1% |
1% |
| £250,001 to £500,000 |
3% |
3% |
| £500,000+ |
4% |
4% |
| |
|
|
*£150,000 in designated disadvantaged areas.
**First time buyers no Stamp Duty Land Tax on transactions up to 250,000 between 25/03/10 and 25/03/12. |
| |
|
|
| On lease rentals |
|
|
| |
|
|
| Residential: |
|
|
| £125,000 or less |
NIL |
NIL |
| £125,000+ |
1% |
1% |
| |
|
|
| Non-residential: |
|
|
| £150,000 or less |
NIL |
NIL |
| £150,000+ |
1% |
1% |
| |
|
|
| Lease premium rates are as for land transactions
except the nil band only applies if rent is less than £600
per annum. |
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Top
Self Assessment: Key Dates 2010/11
|
1 February 2010 - Penalty charged where 2009 self-assessment tax return was not filed on time.
2 February 2010 - Submission date for forms P46 (Car) for changes during the quarter ended 5th January 2010 to car or fuel benefits provided to employees.
19 February 2010 - PAYE and NIC due for the month ended 5th February 2010.
28 February 2010 - 5% surcharge applied where 2008/2009 tax has not been settled in full by this date.
19 March 2010 - PAYE and NIC due for the month ended 5th March 2010.
6 April 2010 - Start of 2010/2011 tax year.
14 April 2010 - Deadline for submission of forms CT61 and payment of any associated income tax for the quarter ended 31st March 2010.
19 April 2010 - PAYE and NIC due for the month ended 5th April 2010, including any due on deemed salaries under the IR35 rules. Quarterly PAYE and NIC due for the quarter ended 5th April 2010 for qualifying small employers. Submit Construction Industry Scheme return for the month ended 5th April 2010.
3 May 2010 - Submission date for forms P46 (Car) for changes during the quarter ended 5th April 2010 to car and fuel benefits provided to employees.
19 May 2010 - PAYE and NIC due for the month ended 5th May 2010. Final submission date for employers' year end returns (forms P35 and P14) for the year ended 5th April 2010. Submit Construction Industry Scheme return for the month ended 5th May 2010.
31 May 2010 - Employers to provide employees with forms P60 (year end summaries) for the year ended 5th April 2010.
19 June 2010 - PAYE and NIC due for the month ended 5th June 2010. Submit Construction Industry Scheme return for the month ended 5th June 2010.
5 July 2010 - Final date for agreement of 2009/2010 PAYE Settlement Agreements.
6 July 2010 - Final submission date for returns of expenses and benefits (forms P11D and P9D) for the year ended 5th April 2010. Relevant employees to be provided with copies of forms P11D and P9D.
6 July 2010 - Submission date for annual share scheme returns (form 42) for the year ended 5th April 2010.
14 July 2010 - Deadline for submission of forms CT61 and payment of any associated income tax for the quarter ended 30th June 2010.
19 July 2010 - PAYE and NIC due for the month ended 5th July 2010. Quarterly PAYE and NIC due for the quarter ended 5th July 2010 for qualifying small employers. Due date for payment of Class 1A NIC arising on relevant benefits in kind for the year ended 5th April 2010. Submit Construction Industry Scheme return for the month ended 5th July 2010.
31 July 2010 - Second payment on account due in respect of 2009/2010 personal tax. Second penalty of £100 applied where 2009 self-assessment tax return has not yet been submitted. Second 5% surcharge applied where 2008/2009 tax has not been settled in full by this date.
2 August 2010 - Submission date for forms P46 (Car) for changes during the quarter ended 5th July 2010 to car or fuel benefits provided to employees.
19 August 2010 - PAYE and NIC due for the month ended 5th August 2010. Submit Construction Industry Scheme return for the month ended 5th August 2010.
19 September 2010 - PAYE and NIC due for the month ended 5th September 2010. Submit Construction Industry Scheme return for the month ended 5th September 2010.
30 September 2010 - Filing date for 2010 self-assessment tax returns not submitted electronically where H M Revenue and Customs are to calculate the liability, or where there is an underpayment of less than £2,000 to be collected via the PAYE tax code.
5 October 2010 - Deadline for notifying H M Revenue and Customs of chargeability to income or capital gains tax for the year ended 5th April 2010.
14 October 2010 - Deadline for submission of forms CT61 and payment of any associated income tax for the quarter ended 30th September 2010.
19 October 2010 - PAYE and NIC due for the month ended 5th October 2010. Quarterly PAYE and NIC due for the quarter ended 5th October 2010 for qualifying small employers. Due date for payment of tax and class 1B NIC arising under a PAYE Settlement Agreement for the year ended 5th April 2010. Submit Construction Industry Scheme return for the month ended 5th October 2010.
31 October 2010 - Submission date for 2010 self-assessment tax returns not submitted electronically (where these were issued by 31st July 2010).
2 November 2010 - Submission date for forms P46 (Car) for changes during the quarter ended 5th October 2010 to car or fuel benefits provided to employees.
19 November 2010 - PAYE and NIC due for the month ended 5th November 2010. Submit Construction Industry Scheme return for the month ended 5th November 2010.
19 December 2010 - PAYE and NIC due for the month ended 5th December 2010. Submit Construction Industry Scheme return for the month ended 5th December 2010.
14 January 2011 - Deadline for submission of forms CT61 and payment of any associated income tax for the quarter ended 31st December 2010.
19 January 2011 - PAYE and NIC due for the month ended 5th January 2011. Quarterly PAYE and NIC due for the quarter ended 5th January 2011 for qualifying small employers. Submit Construction Industry Scheme return for the month ended 5th January 2010.
31 January 2011 - Final submission date for 2010 self-assessment tax returns (where these were issued by 31st October 2010 and are delivered electronically). Balancing payment due for 2009/2010 personal tax. First payment on account due in respect of 2010/2011 personal tax.
*If you pay online, the deadline is extended to 22nd of that month. |
|
Disclaimer
|
| The information in this tax card is based upon the 2010
Budget and other earlier announcements and may be subject to amendment
by the Finance Act. |
|
|
 |
| Should you not have Adobe Acrobat Reader on your
system, click on the logo above to download a free copy from the
official Adobe web site. |
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