UK Tax Rates 2007

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Remember tax cuts start next year 2008 UK tax year date : 6th April 2007 - 5th April 2008
Income Tax Rates	2007 - 08
Starting tax rate	10% 0 - 2,230
Basic tax rate	22% 2,231 - 34,600
Higher tax rate	40% Over 34,600

Income Tax Allowances	(£)
Personal allowance	5,225
Personal allowance for people aged 65-74	7,550
Personal allowance for people aged 75 and over	7,690
Income limit for age-related allowances	20,900
Married couple's allowance - aged 75 or more	6,365
Minimum amount of married couple's allowance	2,440
Blind person's allowance	1,730

National Insurance	2007 - 08
LEL per week	87
UEL per week	670
Primary Theshold per week	100
Secondary Threshold per week	100
Employee - between PT - UEL (A)	11%
Employee - Over UEL	1%
Employers class 1	12.8%

Corporation Tax	2007 - 08
0 - 300,000	20%
300,001 - 1.5m	marginal relief fraction 1/40
Over 1.5m	30%

Capital gains	2007 - 08
Annual Exemption/ relief
Individuals	9,200
Trust	4,600

Inheritance Tax Pre-budget - good article in telegraph	2007 - 08
Nil band	300,000
Lifetime transfers	20%
Transfer within 7 years of death	40%

UK Tax Rates 2007-8