Budget 2007


Introduction

Main Income Tax reliefs

Income Tax Rates and bands

Car Benefit Assessment

Tax Free Mileage Allowances

National Insurance Contributions

Pension Contributions

Inheritance Tax

Value Added Tax

Capital Gains Tax

Corporation Tax

Main capital allowances

Stamp Duty & Stamp Duty Land Tax

Earliest due dates for payment of tax

Pension Contributions

Maximum annual tax-efficient gross contributions to age 75
- individuals	£3,600 or 100% of earnings to £225k
- employers	£225k less employee contributions
Maximum tax-efficient fund on taking benefits in 2007/08: £1.6m
Only current earnings count for the 100% limit. It is no longer possible to use prior year earnings or to carry back a contribution to earlier years.