Tax Rates
Key Personal Tax Rates and Allowances - 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) |
£5,435 |
|
Personal allowance (65-74) |
£9,030 |
|
Personal allowance (75 and over) |
£9,180 |
Income Tax Rates
|
0 - £36,000 |
20% |
|
Over £36,000 |
40% |
Note: basic rate tax on savings income (except dividends) is 20%. UK dividends have a 10% tax credit associated with them. UK basic rate taxpayers 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).
Capital Gains Tax Allowances
|
Individuals |
£9,600 |
|
Settlements |
£4,800 |
Inheritance Tax
|
Nil Rate Band |
£312,000 |