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The rate of relief for the continuing married couple's allowance and maintenance...

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Rates & Allowances

Rates and allowances set by HMRC for various types of tax are set out below.

Rates and Allowances – Income Tax

Income Tax Allowances	2009-10 (£)	2008-09 (£)
Personal allowance for people aged under 65	6,475	6,035
Personal allowance for people aged 65-74	9,490	9,030
Personal allowance for people aged 75 and over	9,640	9,180
Income limit for age-related allowances	22,900	21,800
Married couple's allowance tax reduction - aged 73-74	Not Applicable	6,535
Married couple's allowance - aged 75 or more	6,965	6,625
Minimum married couple's allowance tax reduction	2,670	2,540
Blind person's allowance	1,890	1,800

The rate of relief for the continuing married couple's allowance and maintenance relief for people born before 6 April 1935, and for the children's tax credit, is 10%.

Taxable Bands

Taxable Bands Allowances	2009-10 (£)	2008-09 (£)
Starting rate 10%	0 - 2,440	0 - 2,320
Basic rate 20%	0 - 37,400	0 - 34,800
Higher rate 40%	Over 37,400	over 34,800

Capital Gains Tax for Individuals and Trustees

Annual exempt amount	2009-10 (£)	2008-09 (£)
Individuals etc*	10,100	9,600
Other trustees	5,050	4,800

* Individuals, trustees of settlements for the disabled, and personal representatives of the estate of a deceased person.

Corporation Tax Levels on Profits

Profits - £ per year	2009-10 (%)	2008-09 (%)
£0–£300,000	21	21
£300,001–£1,500,000	29.75	29.75
£1,500,001 or more	28	28

Rates and Allowances - Inheritance Tax Threshold

Year	Amount (£)
2009-10	325,000
2008-09	312,000
2007-08	300,000
2006-07	285,000
2005-06	275,000
2004-05	263,000

Rates and Allowances - National Insurance Contributions

£ per week	2009-10	2008-09
Lower earnings limit, primary Class 1	£95	£90
Upper earnings limit, primary Class 1	£844	£770
Upper accmio
Upper accruals point	£770	N/A
Primary threshold	£110	£105
Secondary threshold	£110	£105
Employees’ primary Class 1 rate between primary threshold and upper earnings limit	11%	11%
Employees’ primary Class 1 rate above upper earnings limit	1%	1%
Employees’ contracted-out rebate	1.6%	1.6%
Married women’s reduced rate between primary threshold and upper earnings limit	4.85%	4.85%
Married women’s rate above upper earnings limit	1	1
Employers’ secondary Class 1 rate above secondary threshold	12.8%	12.8%
Employers’ contracted-out rebate, salary-related schemes	3.7%	3.7%
Employers’ contracted-out rebate, money-purchase schemes	1.4%	1.4%
Class 2 rate	£2.40	£2.30
Class 2 small earnings exception	£5,075 per year	£4,825 per year
Special Class 2 rate for share fishermen	£3.05	£2.95
Special Class 2 rate for volunteer development workers	£4.75	£4.50
Class 3 rate	£12.05	£8.10
Class 4 lower profits limit	£5,715 per year	£5, 435 per year
Class 4 upper profits limit	£43,875 per year	£40, 040 per year
Class 4 rate between lower profits limit and upper profits limit	8%	8%
Class 4 rate above upper profits limit	1%	1%

Rates and Allowances - Tax Credits/Child Benefit

The rates and thresholds of the tax credits are shown below.

Working Tax Credit - £ per year (unless stated)

Rates and Thresholds	Apr 09	Apr 08
Basic element	£1,890	£1,800
Couple and lone parent element	£1,860	£1,770
30 hour element	£775	£735
element	£2,530	£2,405
50+ Return to work payment (16-29 hours)	£1,300	£1,235
50+ Return to work payment (30+ hours)	£1,935	£1,840

Childcare element of the Working Tax Credit - £ per year (unless stated)

Rates and Thresholds	Apr-09	Apr-08
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%
Child Tax Credit Family element	£545	£545
Family element, baby addition	£545	£545
Child element	£2,235	£2,085
Disabled child element	£2,670	£2,540
Severely disabled child element	£1,075	£1,020

Income thresholds and withdrawal rates - £ per year (unless stated)

Rates and Thresholds	Apr-09	Apr-08
First income threshold	£6,420	£6,420
First withdrawal rate (per cent)	39%	39%
Second income threshold	£50,000	£50,000
Second withdrawal rate (per cent)	6.67%	6.67%
Income disregard	£25,00	£25,00

Child Benefit/Guardian Allowance - £ per week

Rates	Apr-09	Apr-08
Eldest/Only Child	£20.00	£18.80
Other Children	£13.20	£12.55
Eldest/Only Child (Lone Parent Rate)
Guardian’s Allowance	£14.10	£13.45

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