Summary tax table (years comparison)
Income Tax Rates |
2004-5 | 2003-04 | 2002-03 | 2001-02 | 2000-01 | 1999-00 |
|---|---|---|---|---|---|---|
| Starting rate | 10% 0 - 2,020 | 10% 0 - 1, 960 | 10% 0 - 1,920 | 10% 0 - 1,880 | 10% 0 - 1520 | 10% 0 - 1,500 |
| Basic rate | 22% 2,021 - 31, 400 | 22% 1, 961 - 30, 500 | 22% 1 921 - 29,900 | 22% 1,881 -29,400 | 22 1,520 - 28,400 | 23% 1500 - 28,000 |
| Higher rate | 40% Over 31, 400 | 40% Over 30, 500 | 40% Over 29,900 | 40% Over 29,400 | 40% Over 28,400 | 40% Over 28,000 |
Income Tax Allowances |
(£) | (£) |
(£) |
(£) | (£) | (£) |
| Personal allowance | 4, 745 | 4, 615 | 4,615 | 4,535 | 4,385 | 4,335 |
| Personal allowance for people aged 65-74 | 6, 830 | 6, 610 | 6,100 | 5,590 | 5,790 | 5,720 |
| Personal allowance for people aged 75 and over | 6, 950 | 6, 720 | 6,370 | 6,260 | 6,050 | 5,980 |
| Income limit for age-related allowances | 18, 300 | 18, 300 | 17,900 | 17,600 | 17,000 | 16,800 |
| Married couple's allowance for people born before 6 April 1935 | 5, 725 | 5, 565 | 5,465 | 5,365 | 5,185 | 5,125 |
| Married couple's allowance - aged 75 or more | 5, 795 | 5, 635 | 5,535 | 5,435 | 5,255 | 5,195 |
| Minimum amount of married couple's allowance | 2,150 | 2,150 | 2,110 | . | . | . |
| Blind person's allowance | 1, 560 | 1, 510 | 1,480 | 1,450 | 1,400 | 1,380 |
| Children tax credit | replaced by Tax credit | replaced by Tax credit | 5,290 | . | . | . |
| children tax credit - baby rate | replaced by Tax credit | replaced by Tax credit | 10,490 | . | . | . |
National Insurance |
2004-5 | 2003-04 | 2002-03 | 2001-02 | 2000-01 | 1999-00 |
| LEL | 91 | 89.01 | 75 | 72 | . | . |
| UEL | 610 | 595 | 585 | 575 | . | . |
| Employee - between LEL - UEL (A) | 11% | 11% | 10% | 10% | . | . |
| Employee - Over UEL | 1% | 1% | 0% | 0% | . | . |
| Employers class A | 12.8% | 12.8 | 11.8% | 11.9% | . | . |
Corporation Tax |
2004-5 | 2003-04 | 2002-03 | 2001-02 | 2000-01 | 1999-00 |
| Under 10,000 | 0% | 0% | 0% | 10% | . | . |
| 10,001 - 50,000 | 23.75% | 23.75% | 23.75% | 22.5% | . | . |
| 50,001 - 300,000 | 19% | 19% | 19% | 20% | . | . |
| 300,001 - 1.5m | 32.75% | 32.75% | 32.75% | 32.5% | . | . |
| Over 1.5m | 30% | 30% | 30% | 30% | . | . |
Capital gains |
2004-5 | 2003-04 | 2002-03 | 2001-02 | 2000-01 | 1999-00 |
| Annual Exemption/ relief | . | . | . | . | . | |
| Individuals | 8,200 | 7900 | 7700 | 7500 | . | . |
| Trust | to be updated | 3950 | 3850 | 3750 | . | . |
Inheritance |
2004-5 | 2003-04 | 2002-03 | 2001-02 | 2000-01 | 1999-00 |
| Nil band | 263,000 | 255,000 | 250,000 | . | . | . |
| Lifetime transfers | 20% | 20% | 20% | . | . | . |
| Transfer within 7 years of death | 40% | 40% | 40% | . | . | . |
| To be used as a guide only |
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