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UK Tax Rates 2003-4
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to pick tax
Tax Year
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Income Tax
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National Ins.
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Corporation
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Capital Gains
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Inheritance
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UK tax year date : 6th April 2003 - 5th April 2004
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Income Tax Rates
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2003 - 04
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Starting tax rate
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10% 0 - 1, 960
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Basic tax rate
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22% 1, 961 - 30, 500
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Higher tax rate
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40% Over 30, 500
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Income Tax Allowances
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(£)
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Personal allowance
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4, 615
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Personal allowance for people aged 65-74
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6, 610
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Personal allowance for people aged 75 and over
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6, 720
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Income limit for age-related allowances
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18, 300
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Married couple's allowance for people born before 6 April 1935
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5, 565
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Married couple's allowance - aged 75 or more
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5, 635
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Minimum amount of married couple's allowance
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2,150
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Blind person's allowance
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1, 510
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Children tax credit
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replaced by Tax credit
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children tax credit - baby rate
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replaced by Tax credit
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National Insurance
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2003 - 04
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LEL
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77
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UEL
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595
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Employee - between LEL - UEL (A)
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11%
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Employee - Over UEL
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1%
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Employers class A
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12.8
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Corporation Tax
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2003 - 04
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Under 10,000
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0%
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10,001 - 50,000
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23.75%
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50,001 - 300,000
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19%
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300,001 - 1.5m
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32.75%
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Over 1.5m
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30%
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Capital gains Tax
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2003 - 04
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Annual Exemption/ relief
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.
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Individuals
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7900
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Trust
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3950
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Inheritance Tax
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2003 - 04
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Nil band
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255,000
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Lifetime transfers
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20%
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Transfer within 7 years of death
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40%
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UK Tax Rates - Past and Present
UK tax rates, for much further information from the official authority site
Summary table
(past year uk tax rates comparison tables)
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