2010/11 UK Tax Tables

Courtesy of LV

Income Tax

Rates	2010-11	2011-12
Starting rate band of 10% on savings income up to*	£2440	£2560
Basic rate of 20% on income up to	£37400	£35000
Higher rate of 40% on income	£37401-£150,000	£35001-£150000
Additional rate of 50% for income over	£150,000	£150000
Dividends for:
Basic rate taxpayers	10%	10%
Higher rate taxpayers	32.5%	32.5%
Additional rate taxpayers	42.5%	42.5%
Trusts: Standard rate band generally	£1000	£1000
Rate applicable to trusts: dividends	42.5%	42.5%
other income	50%	50%
Pre-owned assets tax minimum taxable as income	£5000	£5000

* Not available if taxable non-savings income exceeds starting rate band

Main Personal Allowances and Reliefs	2010-11	2011-12
Personal (basic)	£6475	£7475
Personal allowance reduced by 50% of income over	£100,000	£100000
Personal (65-74)	£9490	£9940
Personal (75 and over)	£9640	£10090
Married/Civil Partners (minimum) at 10%**	£2670	£2800
Married/Civil Partners (75 and Over) at 10%	£6965	£7295
Age related reliefs, excess over basic relief reduced by 50% of income over	£22,900	£24000

** Where at least one spouse/civil partner was born before 6 April 1935

Venture Capital Trust at 30%
Maximum Investment	£200,000

Non Domicile Remittance Basis Charge
For Adult non-UK domicillary after UK residence in 7 or more of the previous 9 tax years	£30,000

Registered Pensions

Lifetime Allowance***	£1,800,000
Annual Allowance	£255,000
Special Annual Allowance where relevant income is £130,000or more	£20,000 - £30,000
Special Annual Allowance Charge	20%-30%
Maximum Pension Commencement Lump Sum***	25% of pension benefit value
Lifetime Allowance if excess drawn	as cash 55% as income 25%
Annual Allowance Charge on excess	40%

***Subject to transitional protection for excess amount

National Insurance Contributions

Employed Class 1 Employee Not Contracted-Out of State Second Pension (S2P)
	Employee 2010-11		Employer 2010-11	Employee 2011-12		Employer 2011-12
NIC rate	11%		12.8%	12%		13.8%
No NIC's on the first	£110pw		£110pw	£139		£136
NICs charged at 11%/12.8% up to	£844pw		No Limit	£817		No Limit
1% NIC on earnings over	£844pw		N/A	£817		N/A
Certain Married Women	4.85%		12.8%	5.85%		12.8%

Contracted-Out Rebate
Rebate on		£97.01 - £770pw			£102 - £770pw
Salary related scheme	1.6%		3.7%	1.6%		3.7%
Money-Purchase Scheme	1.6%		1.4%	1.6%		1.4%
Personal Pension	No reduction		No Reduction	No reduction		No Reduction

Limits and Thresholds	Weekly	Monthly	Annual	Weekly	Monthly	Annual
Lower Earnings Limit	£97	£421	£5,044	£102	£442	£5304
Earnings Threshold	£110	£476	£5,715	£139	£602	£7228
Upper Accrual Point	£770	£3,337	£40,040	£770	£3,337	£40,040
Upper Earnings Limit	£844	£3,656	£43,875	£817	£3540	£42484
Class 1A Employer
On car and fuel benefits and most other taxable benefits		12.8%			12.8%

Self Employed
Class 2 Flat rate	£2.40pw		£124.80 pa	£2.50pw		£130 pa
Class 4 Unless over state pension age on 6 April 2010			£5,075 pa			£5,075 pa
On Profits	£5715 - £43875 pa	8%		£7225 - £42475 pa	9%
	Over £43875 pa	1%		Over £42475 pa	2%

Voluntary
Class 3 Flat Rate	£12.05pw		£626.60 pa	£12.60pw		£655.20 pa

Basic State Pension

	Weekly	Annual
Single Person	£97.65	£5,077.80
Dependants Addition	£58.50	£3,042.00
Total Married Pension	£156.15	£8,119.80
Pension Credit - Standard Minimum Guarantee
Single	£132.60	£6,895.20
Couple	£202.40	£10,524.80

Stamp Duties

Stamp Duty Land Tax based on consideration from 1/1/2010
Commercial property £150,000 or less	Nil
Commercial property over £150,000 up to £250,000	1%
Residential property £125,000**** or less	Nil
Residential property over £125,000**** up to £250,000	1%
All property over £250,000 up to £500,000	3%
All property over £500,000	4%

****£150,000 for property in disadvantaged areas. £250000 for first time buyers where completion is from 25/3/10 to 24/3/12

Stamp Duty (including Stamp Duty Reserve Tax)
Stocks and marketable securities	0.5%
No charge unless the duty exceeds £5

Individual Savings Accounts (ISAs)

Components	Maximum Investment 2010-11	Maximum Investment 2011-12
Cash	£5,100	£5340
Stocks and Shares (balance to)	£10,200	£10680

Capital Gains Tax

Tax Rate
Individuals	18-28%
Trusts and estates	28%
Exemptions
Individuals, estates, etc	£10,100
Trusts generally	£5,050
Chattels proceeds (restricted to 5/3 proceeds exceeding limit)	£6,000
Entrepreneurs Relief
Lifetime Limit	£5,000,000

Individuals tax rate depends on the total amount of your taxable income, so you need to work this out first.

4/9ths of gain (effective tax rate of 10%). For trading businesses and companies (minimum 5% employee or director shareholding) held for at least 1 year

Inheritance Tax

Nil Rate Band*****	£325,000
Rate of tax on excess	40%
Lifetime transfers to and from certain trusts	20%
Relief for businesses, unlisted and AIM companies, certain farmland/buildings	100%
Relief for certain other business assets	50%
Exemption for overseas domiciled spouse/civil partner	£55000

*****Up to 100% of the unused portion of a deceased spouse's/civil partner's nil-rate band can be claimed on the surviving spouse's/civil partner's death after 8 oct 2007

Tax Rate
Years before death	0 - 3	3 - 4	4 - 5	5 - 6	6 - 7
% of death charge	100	80	60	40	20
Annual except gifts	£3,000 per donor		£250 per donee

Value Added Tax

Standard rate to 3/1/11	17.5%
Standard rate from 4/1/11	20%
Reduced rate, eg on domestic fuel	5%
Registration level from 1/4/10	£70,000
Flat rate scheme turnover limit	£150,000
Cash and annual accounting schemes turnover limit	£1,350,000

Corporation Tax

Profits	Effective Rate To 31/03/11
£0 - £300,000	21%
£300,001 - £1,500,000	29.75%
£1,500,001 and over	28%

Cars and Car Benefits

Taxable amount based on car's list price when new up to £80,000
Charge varies according to CO2 emissions in grams per kilometre

CO2 Emissions g/km	Petrol or Pre-2006 Euro IV diesel engine %	Other diesel engines %	Hybrid petrol/electric engine	E85, LPG or dual LPG & Petrol %
75 or less	5	8	5	5
76-120	10	13	10	10
121-134	15	18	12	13
135-139	16	19	13	14
140-144	17	20	14	15
145-149	18	21	15	16
150-154	19	22	16	17
155-159	20	23	17	18
160-164	21	24	18	19
165-169	22	25	19	20
170-174	23	26	20	21
175-179	24	27	21	22
180-184	25	28	22	23
185-189	26	29	23	24
190-194	27	30	24	25
195-199	28	31	25	26
200-204	29	32	26	27
205-209	30	33	27	28
210-214	31	34	28	29
215-219	32	35	29	30
220-224	33	35	30	31
225-229	34	35	31	32
230 and over	35	35	32	33

Euro IV diesel cars registered before 1/1/06 are treated as petrol cars
Euro IV diesle cars registered from 2006 are treated as other diesels
E85, LPG or dual LPG & petrol: The % of list price applies to cars made or converted before type approval.
The petrol scale applies to LPG/petrol cars converted after type approval but the cost of conversion is disregarded
From 6 April 2010 no taxable benefit for zero emissions cars, inc electric only

Fuel Benefits - taxable amount for private use
Multiply the CO2% used for the car benefit by	£18,000
Minimum charge at 10%	£1,800
Maximum charge at 35%	£6,300

Fuel Benefits - taxable amount for private use
Engine Sizes	Petrol	Diesel	LPG
1400cc or less	11p	11p	7p
1401cc to 2000cc	14p	11p	8p
Over 2000cc	20p	14p	12p

Use of own vehicle - tax free mileage per business mile
Cars : Up to 10,000 Business miles	40p
Over 10,000 business miles	25p
Motorcycles	24p
Bicycles	20p

Vans - Taxable amounts for private use

Van	£30,00
Fuel	£550

No charge if private use is limited to journeys between home and work. From 6 April 2010, no charge on zero emissions vans incl electric only

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