PERSONAL TAXATION
|
2005/2006 |
2004/2005 |
| Personal Allowance |
|
|
| General |
£4,895 |
£4,745 |
| Aged 65 or over in year of assessment |
£7,090 |
£6,830 |
| Aged 75 or over in year of assessment |
£7,220 |
£6,950 |
| Age allowance income limit |
£19,500 |
£18,900 |
| Minimum where income exceeds limit |
£4,895 |
£4,745 |
| Married Couple's Allowance (10% relief) |
|
|
| Either spouse born before 6 April 1935 |
£5,905 |
£5,725 |
| Either spouse aged 75 or over in year of assessment |
£5,975 |
£5,795 |
| Age allowance income limit |
£19,500 |
£18,900 |
| Minimum where income exceeds limit |
£2,280 |
£2,210 |
| Blind Person's Allowance |
£1,610 |
£1,560 |
| Income Tax Rates |
|
|
| Starting rate |
10% |
10% |
|
on taxable income up to |
£2,090 |
£2,020 |
| Basic rate |
22% |
22% |
| on taxable income from starting rate limit up to |
£32,400 |
£31,400 |
| Higher rate |
40% |
40% |
| on taxable income over |
£32,400 |
£31,400 |
| Lower rate on certain interest income |
20% |
20% |
| Lower rate on dividend income |
10% |
10% |
| Higher rate on dividend income |
32.5% |
32.5% |
|
|
