Tax Rates and Allowances
year ended 5 April 2011

Tax allowances
Personal allowance
6,475
Over Age 65 – Personal Allowance
9,490
Capital Gains - 18% over 10,100
Capital Gains - 28% over
37,400

National Insurance
 
Ees & Ers Weekly - Earnings Threshold
110
Employees Weekly - Upper Limit - 1% Above
844
Ees & Ers Annual - Earning Threshold
5,715
Employees Annual - Upper Limit - 1% above
43,875
Employees Rate
11.0%
Employers Rate
12.8%
Class II - Self Employed @ £2.40 per week
5,075
Class IV - Self Employed @ 8% above
5,715

Tax Rates
 
20% on first 37,400
Higher Rate at 40% on taxable earnings over
37,400
Higher Rate at 50% on taxable earnings over
150,000

Corporation Tax
 
Small Companies Rate at 21% up to
300,000

Inheritance Tax
 
IHT Threshold
325,000

VAT Threshold
 
Registration turnover limit
70,000
De-registration limit 68,000

*Large increases are marked in orange
Express Accountancy • 01202 555663 • express@TaxTips.co.uk