Tax Rates and Allowances
year ended 5 April 2010

Tax allowances
Personal allowance
6,435
Over Age 65 – Personal Allowance
9,490
Over Age 65 – Married Allowance
6,475
Capital Gains Threshold @ 18%
10,10

National Insurance
 
Ees & Ers Weekly - Earnings Threshold
110
Employees Weekly - Upper Limit - 1% Above
770
Ees & Ers Annual - Lower Limit
5,715
Employees Annual - Upper Limit - 1% above
43,875
Employees Rate
11.5%
Employers Rate
13.3%
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

Corporation Tax
 
Small Companies Rate at 21% up to April 2010
300,000

Inheritance Tax
 
IHT Threshold
325,000

VAT Threshold
 
Registration turnover limit
68,000
Express Accountancy • 01202 555663 • express@TaxTips.co.uk