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Income Tax Rates 2006/7 - Personal Allowance, CGT, Inheritance Tax, Taxable Bands |   |
The table below shows personal tax rates for the 2006/7 tax year. For the latest 2007/8 rates, as announced by the Chancellor on 21st March 2007, click here.
|
£ per year (unless stated) |
2005-06 |
Change |
2006-07 |
|
Income tax personal and age-related allowances |
|||
|
Personal allowance (age under 65) |
£4,895 |
+£140 |
£5,035 |
|
Personal allowance (age 65-74) |
£7,090 |
+£190 |
£7,280 |
|
Personal allowance (age 75 and over) |
£7,220 |
+£200 |
£7,420 |
|
Married couple's allowance* (aged less than 75 and born before 6th April 1935) |
£5,905 |
+£160 |
£6,065 |
|
Married couple's allowance* (age 75 and over) |
£5,975 |
+£160 |
£6,135 |
|
Married couple's allowance* - minimum amount |
£2,280 |
+£70 |
£2,350 |
|
Income limit for age-related allowances |
£19,500 |
+£600 |
£20,100 |
|
Blind person’s allowance |
£1,610 |
+£50 |
£1,660 |
|
Capital gains tax annual exempt amount |
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Individuals etc. |
£8,500 |
+£300 |
£8,800 |
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Most trustees |
£4,250 |
+£150 |
£4,400 |
|
Inheritance tax threshold |
£275,000 |
+£10,000 |
£285,000 |
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Pension schemes allowances |
|||
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Annual Allowance |
N/A |
N/A |
£215,000 |
|
Lifetime Allowance |
N/A |
N/A |
£1,500,000 |
*Married couple's allowance is given at the rate of 10 per cent.
Income tax: taxable bands
|
£ per year |
2005-06 |
2006-07 |
|
Starting rate: 10%* |
£0-£2,090 |
£0-£2,150 |
|
Basic rate: 22%* |
£2,091-£32,400 |
£2,151-£33,300 |
|
Higher rate: 40%* |
Over £32,400 |
Over £33,300 |
* The rate of tax applicable to savings income in Section 1A ICTA 1988 remains at 20 per cent for income between the starting and basic rate limits. The rates applicable to dividends are 10 per cent for income up to the basic rate limit and 32.5 per cent above that.
Posted March 27, 2006
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Corporation Tax Rate Tables for 2009/10 tax year. The small companies' tax rate remains at 21%. [April 6, 2009]
National Insurance contribution (NIC) rates for the 2009/10 tax year. [April 6, 2009]
Personal income tax allowances and taxable bands for the 2009/10 tax year. [April 6, 2009]
Vehicle Excise Duty rates for 2009/10 and 2010/11 - including details of the 13 new VED tax bands from April 2009, and new tax rates for brand new cars from 2010 according to CO2 emission data. [November 25, 2008]
Following the 10% tax band "fiasco", here are the details of the revised tax rates and allowances for the 2008-9 tax year. [June 6, 2008]
Summary of the main tax changes which take effect from 6th April 2008 - including income tax, CGT, corporation tax, capital allowances, national insurance, and indirect taxes. [April 7, 2008]
Personal income tax allowances for the 2008/9 tax year. [March 12, 2008]
Vehicle Excise Duty rates for 2008/9 - including a £100 increase in duty for Band G vehicles. [March 12, 2008]
National Insurance rates for the 2008/9 tax year. [January 8, 2008]
The government has published the 2008/09 rates and allowances for income tax, national insurance contributions (NI), the state retirement pension as well as other benefits and allowances. [December 6, 2007]
Income Tax, Capital Gains Tax and Inheritance Tax rates for the 2007/8 tax year. [March 21, 2007]
National Insurance rates for the 2007/8 tax year. [March 9, 2007]
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