UK Tax Rates 2004-5

UK tax year date : 6th April 2004 - 5th April 2005
Income Tax Rates	2004 - 05
Starting tax rate	10% 0 - 2,020
Basic tax rate	22% 2,021 - 31, 400
Higher tax rate	40% Over 31, 400

Income Tax Allowances	(£)
Personal allowance	4, 745
Personal allowance for people aged 65-74	6, 830
Personal allowance for people aged 75 and over	6, 950
Income limit for age-related allowances	18, 300
Married couple's allowance for people born before 6 April 1935	5, 725
Married couple's allowance - aged 75 or more	5, 795
Minimum amount of married couple's allowance	2,150
Blind person's allowance	1, 560
Children tax credit	replaced by Tax credit
children tax credit - baby rate	replaced by Tax credit

National Insurance	2004 - 05
LEL	79
UEL	610
Employee - between LEL - UEL (A)	11%
Employee - Over UEL	1%
Employers class A	12.8%

Corporation Tax	2004 - 05
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	2004 - 05
Annual Exemption/ relief
Individuals	8,200
Trust	4,100

Inheritance Tax	2004 - 05
Nil band	263,000
Lifetime transfers	20%
Transfer within 7 years of death	40%

Tax Year