Clients

Tax Rates

2009/10

The following is a guide only and does not purport to be a comprehensive or exhaustive source. For more detail please consult your professional adviser or refer to HMRC's website http://www.hmrc.gov.uk/

Income Tax Allowances

Personal allowance (under 65)

£6,475

Personal allowance  (65-74)

£9,490

Personal allowance (75 and over)

£9,640

Income Tax Rates

0 - £37,400                

20%

Over £37,400

40%

Note: UK Dividends have a 10% tax credit associated with them. UK basic rate taxpayers therefore pay no further tax on UK dividends. UK higher rate taxpayers are required to pay an additional 25% of the net dividend (ie 32.5% of the gross dividend).
For savings income there is a "starting rate" of 10% for those on low incomes.


Capital Gains Tax Allowances

Individuals 

£10,100

Settlements

£5,050

Inheritance Tax

Nil Rate Band                 

£325,000

 

 

2008/09

The following is a guide only and does not purport to be a comprehensive or exhaustive source. For more detail please consult your professional adviser or refer to HMRC's website http://www.hmrc.gov.uk/

Income Tax Allowances

Personal allowance (under 65)

£6,035

Personal allowance  (65-74)

£9,030

Personal allowance (75 and over)

£9,180

Income Tax Rates

0 - £34,800                

20%

Over £34,800

40%

Note: UK dividends have a 10% tax credit associated with them. UK basic rate taxpayers therefore pay no further tax on UK dividends. UK higher rate taxpayers are required to pay an additional 25% of the net dividend (ie 32.5% of the gross dividend).
For savings income there is a "starting rate" of 10% for those on low incomes.


Capital Gains Tax Allowances

Individuals               

£9,600

Settlements

£4,800

Inheritance Tax

Nil Rate Band                 

£312,000