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UK tax year date : 6th April 2012 - 5th April 2013
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Income Tax Rates
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2012 - 13
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Starting rate for savings
|
10% £0 - £2,710
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Basic tax rate
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20% £0 - 34,370
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Higher tax rate
|
40% Over £34,370
|
Additional rate
|
50% Over £150,000
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Lower rate on dividend Income
|
10%
|
Higher rate on dividend income
|
32.50%
|
Additional rate on dividend income
|
42.50%
|
|
|
Income Tax Allowances
|
(£)
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Personal allowance for people under 65
|
8,105
|
Personal allowance for people aged 65-74
|
10,500
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Personal allowance for people aged 75 and over
|
10,660
|
Income limit for age-related allowances
|
25,400
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Married couple's allowance - aged 75 or more
|
7,705
|
Minimum amount of married couple's allowance
|
2,960
|
Blind person's allowance
|
2,100
|
|
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Reduced tax allowances and tapered down to zero over |
£100,000 |
|
|
National Insurance
|
2012 - 13
|
LEL per week
|
£107
|
UEL per week
|
£817
|
Primary Threshold per week
|
£146
|
Secondary Threshold per week
|
£144
|
Employee - between PT - UEL (A)
|
12%
|
Employee - Over UEL
|
2%
|
Employers class 1
|
13.8%
|
|
|
Corporation Tax
|
2012 - 13
|
0 - 300,000
|
20%
|
300,001 - 1.5m
|
marginal relief fraction 1/100
|
Over 1.5m
|
24%
|
|
|
Capital Gains Tax
|
2012 - 13
|
Individuals
|
18% and 28%
|
Trust
|
28%
|
Qualifying Entrepreneurs' Relief
|
10%
|
Annual Exemption/ relief
|
|
Individuals
|
£10,600
|
Trust
|
£5,300
|
|
|
Inheritance Tax
|
2012 - 13
|
Nil band
|
£325,000
|
Lifetime transfers
|
20%
|
Transfer within 7 years of death
|
40%
|
If more than 10% of net estate left to charity
|
36%
|
|
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