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Tax Facts
 
Summer Budget 2010

Introduction

Main Income Tax Reliefs

Income Tax Rates and Bands

Car Benefit Assessment

Tax Free Mileage Allowances

NI Contributions

Pension Contributions

Inheritance Tax

Important Annual Limits

Value Added Tax

Capital Gains Tax

Corporation Tax

Main Capital Allowances

Stamp Duty and SDLT

Payment Dates for Tax

 

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 Main Income Tax reliefs


 
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
Blind Person's Allowance 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Personal allowances in 2010/11 are withdrawn at £1 for every £2 by which total income exceeds £100,000.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).



email: info@davidcutter.co.uk
Tel: 0121-550-8525   Fax: 0121-585-7341
2 Lyttleton Court | Birmingham Street | Halesowen | West Midlands | B63 3HN
DIRECTORS:     PAUL CUTTER BA(Hons), ACA
  KATE JONES BA(Hons), FCCA, ACA
   
DAVID CUTTER & CO IS A TRADING NAME OF CUTTER & CO LIMITED
COMPANY NUMBER: 07252989
A MEMBER OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES