| TAX RATES |
2007/08 |
|
2008/09 |
| Personal Allowance (age under 65) |
5225 |
|
5435 |
| Personal Allowance (age 65-74) |
7550 |
|
9030 |
| Personal Allowance (age 75 and over) |
7690 |
|
9180 |
| Married couple's allowance (aged less than 75 and born before 6th April 1935) Married couple's allowance is given at the rate of 10 % |
6285 |
|
6535 |
| Married couple's allowance (age 75 and over) |
6365 |
|
6625 |
| married couple allowance - minimum amount |
2440 |
|
2540 |
| Income limit for age-related allowance |
20900 |
|
21800 |
| Blind person's allowance |
1730 |
|
1800 |
| INCOME TAX - TAXABLE BANDS |
|
|
|
| Starting rate : 10% |
|
|
|
| Basic rate : 22% |
0-2230 |
|
|
| Basic rate : 20% |
2231-34600 |
|
0-36000 |
| Higher rate : 40% |
over 34600 |
|
over 36000 |
There will be a new 10% starting rate for savings income only, with a limit of £2320. If an individual’s taxable non-savings income is above this limit then the 10% savings rate will not be applicable. There are no changes to the 10% dividend ordinary rate or the 32.5% dividend upper rate. |
|
|
|
