Tax Allowances
(last updated 12/08/2010)
Tax Allowances 2010 - 2011*
| |
2010-11 (£) |
2009-10 (£) |
Increase (£) |
| Income tax allowance: |
|
|
|
| Personal allowance |
6,475 |
6,475 |
- |
| Personal allowance for people aged 65-74 (a) |
9,490 |
9,490 |
- |
| Personal allowance for people aged 75 and over |
9,640 |
9,640 |
- |
| Income limit for age-related allowances |
22,900 |
22,900 |
- |
| Married couple's allowance for people born before 6 April 1935 (b) |
- |
- |
- |
| Married couple's allowance - aged 75 or over (b) |
6,965 |
6,965 |
- |
| Minimum amount of married couple's allowance |
2,670 |
2,670 |
- |
| Blind person's allowance |
1,890 |
1,890 |
- |
| |
| Capital gains tax annual exempt amount: |
|
|
|
| Individuals etc |
10,100 |
10,100 |
- |
| Other trustees |
5,050 |
5,050 |
- |
| |
| Inheritance tax threshold |
325,000 |
325,000 |
- |
| |
| Pensions Annual Allowance from Apr 06 |
255,000 |
245,000 |
10,000 |
| |
| VAT Registration Threshold |
70,000 |
68,000 |
2,000 |
Taxable bands 2010-11 (£)
| Basic rate 20% |
£0-37,400 |
| Higher rate 40% |
£37,401-150,000 |
Corporation tax on profits 2010 (£)
| Starting rate 0% |
N/A |
| Marginal relief |
N/A |
| Small companies' rate 21% |
£300,000 |
| Marginal relief |
£1.5m |
| Full rate 28% |
1500001 or more |
| Non-corporate distribution rate |
N/A |
*Taken from Tolley's Tax Data 2010-11
Back to Fact File
