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Personal Income Tax Rates 2005-6

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Income tax allowances

2003-04 (£) 2004-05 (£) 2005-06 (£)

Personal allowance

4,615 4,745 4,895
Capital gains tax annual exempt amount:
Individuals etc: 7,900 8,200 8,500
Other trustees: 3,950 4,100 4,250
Inheritance tax threshold 255,000 263,000 275,000
Pension schemes earnings cap 99,000 102,000 105,600


Taxable Bands

2003-04 (£) 2004-05 (£) 2005-06 (£)
Starting rate 10% 0 - 1,960 0 - 2,020 0 - 2,090
Basic rate 22% 1,961 - 30,500 2,021 - 31,400 2,090 - 32,400
Higher rate 40% Over 30,500 Over 31,400 Over 32,400

We have included only the most frequently accessed personal tax tables above. You can access the full list, including tax credits, savings, pensions and stamp duty rates directly from the Inland Revenue site.

Posted March 23, 2005




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