Man income Tax rates
|
||
Allowed at top rate of tax
|
2011/12
|
2010/11
|
Personal Allowance
|
7,475
|
6,475
|
Personal Allowance (65-74)*
|
9,940
|
9,490
|
Personal Allowance (75 and over)*
|
10,090
|
9,640
|
Blind Person's Allowance
|
1,980
|
1,890
|
Personal allowances in 2011/12 are withdrawn at £1 for every £2 by which total income exceeds £100,000.
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||
Allowed only at 10%
|
2011/12
|
2010/11
|
Married Couple's Allowance*
(only available if born before 6th April 1935)
|
7,295
|
6,965
|
IncomelLimit for age-related allowances
|
24,000
|
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 £2,800 (2010/11: £2,670).
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||
Important annual limits
|
2011/12
|
2010/11
|
Individual Savings Account investment
|
10,680
|
10,200
|
Enterprise Investment Scheme investment
|
** 500,000
|
* 500,000
|
Venture Capital Trust investment
|
** 200,000
|
** 200,000
|
* Relief at 20%
|
||
** Relief at 30%
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