Tax Allowances
(last updated 16/06/2008)
Tax Allowances 2008 - 2009
| |
2008-09 (£) |
2007-08 (£) |
Increase (£) |
| Income tax allowance: |
|
|
|
| Personal allowance |
5435 |
5225 |
210 |
| Personal allowance for people aged 65-74 |
9030 |
7550 |
1480 |
| Personal allowance for people aged 75 and over |
9180 |
7690 |
1490 |
| Income limit for age-related allowances |
21800 |
20900 |
900 |
| Married couple's allowance for people born before 6 April 1935 |
6535 |
6285 |
250 |
| Married couple's allowance - aged 75 or more |
6625 |
6365 |
260 |
| Minimum amount of married couple's allowance |
2540 |
2440 |
100 |
| Blind person's allowance |
1800 |
1730 |
70 |
| |
| Capital gains tax annual exempt amount: |
|
|
|
| Individuals etc |
9600 |
9200 |
400 |
| Other trustees |
4800 |
4600 |
200 |
| |
| Inheritance tax threshold |
312000 |
300000 |
12000 |
| |
| Pensions Annual Allowance from Apr 06 |
235000 |
225000 |
10000 |
| |
| VAT Registration Threshold |
67000 |
64000 |
3000 |
Taxable bands 2008-09 (£)
| Basic rate 20% |
0-36000 |
| Higher rate 40% |
Over 36000 |
Corporation tax on profits 2008 (£)
| Starting rate 0% |
N/A |
| Marginal relief |
N/A |
| Small companies' rate 21% |
0-300000 |
| Marginal relief |
300001-1500000 |
| Full rate 28% |
1500001 or more |
| Non-corporate distribution rate |
N/A |
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