Personal Income Tax Rates 2005-6
| |
|
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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