 Key tax rates and allowances
|
 | Current rate | On and after 1 Dec 2008 | On and after 1 Jan 2010 |
| Standard rate | 17.5% | 15% | 17.5% |
|
|
| Income tax personal and age-related allowances |
| Personal allowance (age under 65) | £6,035 | +£440 | £6,475 |
| Personal allowance (age 65-74) | £9,030 | +£460 | £9,490 |
| Personal allowance (age 75 and over) | £9,180 | +£460 | £9,640 |
| Married couple's allowance* (age less than 75 and born before 6 April 1935) | £6,535 | +£330 | £6,865 |
| Married couple's allowance* (age 75 and over) | £6,625 | +£340 | £6,965 |
| Married couple's allowance* - minimum amount | £2,540 | +£130 | £2,670 |
| Income limit for age-related allowances | £21,800 | +£1,100 | £22,900 |
| Blind person's allowance | £1,800 | +£90 | £1,890 |
| * given at the rate of 10% | | | |
| Pension schemes allowances |
| Annual allowance | £235,000 | +£10,000 | £245,000 |
| Lifetime allowance | £1,650,000 | +£100,000 | £1,750,000 |
|
|
| Starting savings rate 10%* | £0 - £2,320 | Starting savings rate 10% | £0-£2,440 |
| Basic rate 20% | £0 - £34,800 | Basic rate 20%* | £0 - £37,400 |
| Higher rate 40% | Over £34,800 | Higher rate 40% | Over £37,400 |
| * There is a 10p starting rate for savings only. If an individual's non savings taxable income exceeds the starting rate limit, the 10p starting rate for savings will not be available for savings income. |
|
|
| Lower earnings limit, primary Class 1 per week | £90 | +£5 | £95 |
| Upper earnings limit, primary Class 1 per week | £770 | +£74 | £844 |
| Upper Accruals Point | N/A | N/A | £770 |
| Primary threshold | £105 | +£5 | £110 |
| Secondary threshold | £105 | +£5 | £110 |
| Employees' primary Class 1 rate between primary threshold and upper earnings limit | 11% | - | 11% |
| Employees' primary Class 1 rate above upper earnings limit | 1% | - | 1% |
| Employees' contracted-out rebate, salary-related schemes | 1.6% | - | 1.6% |
| Employers' contracted-out rebate, money-purchase schemes | 1.6 | - | 1.6% |
| Married women's reduced rate between primary threshold and upper earnings limit | 4.85% | - | 4.85% |
| Married women's rate above upper earnings limit | 1% | - | 1% |
| Employers' secondary Class 1 rate above secondary threshold | 12.8% | - | 12.8% |
| Employers' contracted-out rebate, salary-related schemes | 3.7% | - | 3.7% |
| Employers' contracted-out rebate, money-purchase schemes | 1.4% | - | 1.4% |
| Class 2 rate | £2.30 | +£0.10 | £2.40 |
| Class 2 small earnings exception (per year) | £4,825 | +£250 | £5,075 |
| Special Class 2 rate for share fisherman | £2.95 | +0.10 | £3.05 |
| Special Class 2 rate for volunteer development workers | £4.50 | +£0.25 | £4.75 |
| Class 3 rate (per week) | £8.10 | +£3.95 | £12.05 |
| Class 4 lower profits limit (per year) | £5,435 | +£280 | £5,715 |
| Class 4 upper profits (per year) | £40,040 | +£3,835 | £43,875 |
| Class 4 rate between lower profits limit and upper profits limit | 8% | - | 8% |
| Class 4 rate above upper profits limit | 1% | - | 1% |
|