Call us now: 0121-550-8525
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
3 Lyttleton Court, Birmingham Street, Halesowen, Birmingham, B63 3HN

Personal Taxation

 

Allowed at top rate of tax 2010/11 2009/10
Personal Allowance £6.475 £6,475
Personal Allowance (65-74)* 9,490 9,490
Personal Allowance (75 and over)* 9,640 9,640
1,890 1,890
Personal allowances in 2010/11 are withdrawn at £1 for every £2 by which total income exceeds £100,000.
Allowed only at 10%
Married Couple's Allowance* 6,965 6,965
Income Limit for age-related allowances 22,900 22,900
* Age allowances are reduced £1 for every £2 by which income exceeds the income limit, until the age allowance is reduced to the normal allowance. Personal allowance is reduced before married couple's allowance. MCA is reduced to a minimum of £2,670 (2009/10: £2,670).
Starting rate on band **                                             2,440 2,440
Basic rate band 37,400 37,400
Higher rate band 37,401-150,000 over 37,400
Additional rate over 150,000 -
** Starting rate band is within basic rate band and applies to savings income only; if taxable general income exceeds the band, the 10% rate is not available.
 
Tax rates
Rates differ for General/Savings/Dividends
2010/11 2009/10
G S D G S D
Starting rate N/A 10% 10% N/A 10% 10%
Basic rate 20% 20% 10% 20% 20% 10%
Higher rate 40% 40% 32.5% 40% 40% 32.5%
Additional rate 50% 50% 42.5% - - -
General income (salary, pension, profit, rent) uses lower rate bands first, then savings (interest), then dividends. Discretionary trusts: basic rate as above applies to the first £1,000 of income, then highest rate.

 

AddThis Social Bookmark Button
icaewlogo  Chartered Tax Advisers2bacslogo certifiedquickbookslogo fsblogo sagelogo

Directors:  Paul Cutter FCA | Kate Jones FCCA, ACA | Dave Hazlehurst FCCA, CTA

Registered Office:

3 Lyttleton Court | Birmingham Street | Halesowen | West Midlands | B63 3HN

Site Map | Client Portal Login

A Member firm of the institute of Chartered Accountants in England and Wales

Registered with The Chartered Institute of Taxation as a firm of Chartered Tax Advisers

 Company Number: 07252989

Terms Of Use | Privacy & Cookie Policy