Tax Accountants UK
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UK Tax Tables 2010/2011 (June 2010 Budget)
Corporation Tax   2010/11 2009/10
Personal allowance      
General   £6,475 £6,475
Aged 65 or over in year of assessment   £9,490 £9,490
Aged 75 or over in year of assessment   £9,640 £9,640
Age allowance income limit   £22,900 £22,900
Minimum where income exceeds limit   £6,475 £6,475
Married couple's allowance³ (10% relief)      
Either partner aged 75 or over in the year of assessment   £6,965 £6,965
Age allowance income limit   £22,900 £22,900
Minimum where income exceeds limit   £2,670 £2,670
Blind person's allowance   £1,890 £1,890
Income tax rates      
Starting savings rate   10% 10%
    £2,440² £2,440²
Basic rate   20% 20%
    £37,400 £37,400
Higher rate   40% 40%
    £37,400 £37,400
Additional rate   50% N/A
    £150,000 N/A
Lower rate on dividend income   10% 10%
Higher rate on dividend income   32.50% 32.50%
Additional rate on dividend income   42.50% N/A
Pension schemes allowances      
Annual allowance   £255,000 £245,000
Lifetime allowance   £1,800,000 £1,750,000
 
¹For 2010/11 the personal allowance is reduced at a rate of £1 for every £2 of income above £100,000.
²Starting rate applies only to savings income. If taxable non-savings income is above this limit, the starting rate is not applicable.
³Available for civil partners
 
Corporation Tax   FY2010 FY2009
All companies (except below)   28% 28%
Companies with small profits   21% 21%
— 21% rate limit   £300,000 £300,000
— marginal relief limit   £1,500,000 £1,500,000
— marginal relief fraction   7/400 7/400
— effective marginal rate   29.75% 29.75%
 
Capital Gains Tax 2010/11   23.06.10 on To 22.06.10
Individuals      
— Standard rate   28%* 18%*
— Higher rate   28%* 18%*
Trustees and personal representatives   28%* 18%*
Annual exemption      
Individuals, disabled trusts, personal representatives for the year of death and two years thereafter   £10,100  
Trusts generally   £5,050  
*Subject to available reliefs      
 
Inheritance Tax Transfers after 5/4/2010, before 06/4/2011 
Death rates, gross transfer Up to £325,000* Nil  
  Over £325,000 40%  
 
*Unused nil rate band is transferable to spouse or civil partner
Chargeable lifetime transfers are initially charged at 20%. Annual gifts up to £3,000 per donor exempt
 
Individual savings accounts 2010/11   Overall limit Cash limit
Age 50 or under   £10,200 £5,100
Age under £50   £7,200 £3,600
 
National Insurance Contributions   2010/11  
Class 1A and 1B contributions   12.80%  
Class 2 contributions      
Flat weekly rate   £2.40  
Exemption limit   £5,075  
Class 3 contributions      
Flat weekly rate   £12.05  
Class 4 contributions   *  
*8% on the band of profits between £5,715 and £43,875 plus 1% on all profits above £43,875.
 
National Insurance Contributions   2010/11  
Class 1 (earnings related)   Not Contracted out Not Contracted out
Employees' contribution(on weekly earnings)      
First £110   Nil Nil
£110.01 - £770.00   11.0% 9.40%
£770.01 to £844.00   11.0% 11.0%
Over £844      
Employers' contribution(on weekly earnings) NCO SRS MPS
First £110 Nil Nil Nil
£110.01 - £770.00 12.8% 9.1% 11.40%
Over £770 12.8% 12.8% 12.8%
 
Employees' rates are reduced to 4.85% for married women with valid certificates of election but the 1% rate above £844 still applies. Rates are nil for employees over state pensionable age. Normal employers' contributions are still applicable
Employers also receive a rebate of 3.7% for salary-related schemes and 1.4% for money purchase schemes on earnings from £97 to £110 per week. A rebate of 1.60% on earnings from £97 to £110 per week is given to employees (or employers where insufficient contributions have been paid for offset)
 
Value Added Tax 
Standard rate after 31 December 2009     17.50%
Standard rate 1 Dec 2008 to 31 Dec 2009     15%
Standard rate 01 Jan 2010 to 03 Jan 2011   17.50%  
Standard rate from 04 Jan 2011   20.00%  
Registration threshold after 31 March 2010 24p £70,000 £70,000
(previously £68,000 after 30 April 2009)      
 
VAT fuel scale charge
Revised charges from the start of the first VAT period beginning on after 1 May 2010:
CO2 band 12-month
period
3-month period 1-month period
g/km £ £ £
120 or less 570 141 47
125 850 212 70
130 850 212 70
135 910 227 75
140 965 241 80
145 1,020 255 85
150 1,080 269 89
155 1,135 283 94
160 1,190 297 99
165 1,250 312 104
170 1,305 326 108
175 1,360 340 113
180 1,420 354 118
185 1,475 368 122
190 1,530 383 127
195 1,590 397 132
200 1,645 411 137
205 1,705 425 141
210 1,760 439 146
215 1,815 454 151
220 1,875 468 156
225 1,930 482 160
230 or more 1,985 496 165
No charge applies to cars incapable of producing CO2 engine emissions and a 5% charge applies to cars within an emissions figure of 75 g/km or less
Car fuel benefit: For 2010/11, car fuel benefit is calculated by applying the above car benefit percentage to a figure of £18,000.
 
 
Tax-free mileage allowances : Employee's own vehicle
Motorcars and vans 2010/11    
Up to 10,000 business miles 40p    
Over 10,000 business miles 25p    
Each passenger making same trip 5p    
Motorcycles 24p    
Cycles 20p    
 
Advisory fuel rates for company car from 1 June 2010
Cylinder capacity Petrol Diesel LPG
Up to 1,400 cc 12p 11p 8p
1,400 cc to 2,000 cc 15p 11p 10p
Over 2,000 cc 21p 16p 14p
 
Stamp Taxes
Shares and marketable securities 0.5%*
* Rounded up to the nearest multiple of £5. Transactions of value £1,000 or less exempt
Transfers of land and buildings (consideration paid)
Residential* Non-residential Rate  
£125,000 or less £150,000 or less Nil  
£125,001-£250,000 £150,001-£250,000 1%**  
£250,001-£500,000 £250,001-£500,000 3%  
Over £500,000 Over £500,000 4%  
     
Leases    
Rent (net present value)    
     
Residential* Non-residential Rate  
Up to £125,000 Up to £150,000 Nil  
Over £125,000 Over £150,000 1%