Income Tax Tables
|2011-2012 (£)||2012-2013 (£)|
|Personal Allowance for people aged 65-74 *||9,940||10,500|
|Personal allowance for people aged 75 and over *||10,090||10,600|
|Married couple's allowance - aged 75 and over * †||7,295||7,705|
|Income limit for age-related allowances||24,000||25,400|
|Minimum amount of married couple's allowance||2,800||2,960|
|Blind person's allowance||1,980||2,1000|
* These allowances reduce where the income is above the income limit by £1 for every £2 of income above the limit. They will never be less than the basic Personal allowance or minimum amount of Married Couple’s allowance.
† Tax relief for the Married Couple's allowance is given at the rate of 10 per cent.
|2011-2012||£ per year||2012-2013||£ per year|
|Basic rate: 20%**||£0 - £35,000||Basic rate: 20% **||£0 - £34,370|
|Higher rate: 40%||£35,001-150,000||Higher rate: 40%||£34,371-150,000|
|Additional rate: 50%||Over £150,000||Additional rate: 50%||Over £150,000|
** There is a 10 per cent starting rate for savings income only, with a limit of £2,710. If an individual’s taxable non-savings income is above this limit then the 10 per cent starting rate for savings will not apply. There are no changes to the 10 per cent dividend ordinary rate or the 32.5 per cent dividend upper rate. Additional rate remains 42.5%.The 45% tax band will be brought into force from April 2013.