Tax tables and allowances

(Source: Inland Revenue)

Tax Rates and Allowances

	2010-11 (£)	2011-12 (£)	Increase (£)
Income tax allowances
Personal allowance	6,475	7,475	1000

Capital gains tax annual exempt amount:
Individuals etc:	£10,100
Other trustees:	£5,050

Inheritance tax threshold	325,000

Taxable Bands

Taxable bands 2010-11 (£)		Taxable bands 2011-12 (£)
Starting rate for savings 10%	£0-£2,440	Starting rate for savings 10%	£0-£2,560
Basic rate 20%	£0-£37,400	Basic rate 20%	£0-£35,000
Higher Rate 40%	£37,401-£150,000	Higher Rate 40%	£35,001-£150,000
Additional Rate 50%	Over £150,000	Additional Rate 50%	Over £150,000

Corporation Tax Rates

Corporation tax profits 2010-11 (£)		Corporation tax profits 2011-12 (£)
Small companies' rate 21%	0 - 300,000	Small companies' rate 20%	0 - 300,000
Marginal relief	300,001 - 1,500,000	Marginal relief	300,001 - 1,500,000
Main rate 28%	1,500,001 or more	Main rate %	1,500,001 or more

National Insurance Rates

	2009-10		2010-11
Primary threshold	£110 per week		£110 per week
Secondary threshold	£110 per week		£110 per week
Employees' primary class 1 rate on earnings between primary threshold and upper earnings limit	11%		11%
Employers' secondary Class 1 rate	12.8%		12.8%
Class 4 rate	8% of £5,715 to £43,875 per year 1% above £40,040 per year		8% of £5,715 to £43,875 per year 1% above £43,875 per year
Class 4 lower profits limit	£5,715 per year		£5,715 per year
Class 4 upper profits limit	£43,875 per year		£43,875 per year

For a complete list of rates and allowances for 2011-12, visit the Inland Revenue site.

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