Income Tax 2009/10
Tax rates |
2009/10 |
2008/09 |
Starting rate band 10% * |
£2,440 |
£2,320 |
Basic rate band |
£37,400 |
£36,000 |
Non-savings rate |
20% |
20% |
Savings rate |
*see below |
*see below |
UK dividend rate |
10% |
10% |
| * 10% starting rate for savings income up to £2,440. Not applicable if taxable non-savings income exceeds £2,440. |
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Higher rate over |
£37,400 |
£36,000 |
Higher tax rate |
40% |
40% |
UK dividend rate |
32.5% |
32.5% |
Trusts |
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Tax rate |
40% |
40% |
UK dividend rate |
32.5% |
32.5% |
Allowances that reduce taxable income |
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Personal allowance (PA) |
under 65 |
£6,475 |
£6,035 |
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65 to 74 |
£9,490 |
£9,030 |
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75 and over |
£9,640 |
£9,180 |
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Blind person's allowance |
£1,890 |
£1,800 |
Allowances that reduce tax |
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Married couple's allowance (MCA) |
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Tax reduction |
71 to 74 |
n/a |
£653.50 |
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75 and over |
£696.50 |
£662.50 |
The age-related allowances are progressively withdrawn if income exceeds |
£22,900 |
£21,800 |
Minimum PA |
£5,43525 |
£5,43525 |
Minimum MCA tax reduction |
£267 |
£254 |
Tax Shelters |
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Enterprise Investment Scheme (EIS) up to |
£500,000 |
£500,000 |
Venture Capital Trust (VCT) up to |
£200,000 |
£200,000 |
Golden Handshake max. |
£30,000 |
£30,000 |
Rent a Room - exempt on gross annual rent up to |
£4,250 |
£4,250 |
| Construction Industry Scheme deduction rate: |
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| Standard (registered) |
20% |
20% |
| Higher (not registered) |
30% |
30% |
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Contact Us |
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Suite 4, Earls House, Earlsway,
Team Valley, Gateshead, NE11 0RY |
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