UK Tax Rates 2003-4

UK tax year date : 6th April 2003 - 5th April 2004
Income Tax Rates	2003 - 04
Starting tax rate	10% 0 - 1, 960
Basic tax rate	22% 1, 961 - 30, 500
Higher tax rate	40% Over 30, 500

Income Tax Allowances	(£)
Personal allowance	4, 615
Personal allowance for people aged 65-74	6, 610
Personal allowance for people aged 75 and over	6, 720
Income limit for age-related allowances	18, 300
Married couple's allowance for people born before 6 April 1935	5, 565
Married couple's allowance - aged 75 or more	5, 635
Minimum amount of married couple's allowance	2,150
Blind person's allowance	1, 510
Children tax credit	replaced by Tax credit
children tax credit - baby rate	replaced by Tax credit

National Insurance	2003 - 04
LEL	77
UEL	595
Employee - between LEL - UEL (A)	11%
Employee - Over UEL	1%
Employers class A	12.8

Corporation Tax	2003 - 04
Under 10,000	0%
10,001 - 50,000	23.75%
50,001 - 300,000	19%
300,001 - 1.5m	32.75%
Over 1.5m	30%

Capital gains Tax	2003 - 04
Annual Exemption/ relief	.
Individuals	7900
Trust	3950

Inheritance Tax	2003 - 04
Nil band	255,000
Lifetime transfers	20%
Transfer within 7 years of death	40%

Tax Year