Tax tables and allowances 2011/ 2012

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(Source: Inland Revenue)

Tax Rates and Allowances

 

 2010-11 (£) 2011-12 (£) Increase (£)

Income tax allowances

     

Personal allowance

 6,475 7,475 1000
       
Capital gains tax annual exempt amount:      
Individuals etc: £10,100    
Other trustees: £5,050    
       
Inheritance tax threshold 325,000    
       
       

Taxable Bands

 

Taxable bands 2010-11 (£)

Taxable bands 2011-12 (£)

Starting rate for savings 10%

 £0-£2,440 Starting rate for savings 10% £0-£2,560

Basic rate 20%

 £0-£37,400 Basic rate 20% £0-£35,000

Higher Rate 40%

 £37,401-£150,000 Higher Rate 40% £35,001-£150,000

Additional Rate 50%

 Over £150,000 Additional Rate 50% Over £150,000

Corporation Tax Rates

 

Corporation tax profits 2010-11 (£)

 Corporation tax profits 2011-12 (£)

Small companies' rate 21%

 0 - 300,000

Small companies' rate 20%

 0 - 300,000
Marginal relief 300,001 - 1,500,000 Marginal relief 300,001 - 1,500,000
Main rate 28% 1,500,001 or more Main rate    % 1,500,001 or more

National Insurance Rates

 

  2009-10   2010-11
Primary threshold £110 per week   £110 per week
Secondary threshold £110 per week   £110 per week
Employees' primary class 1 rate on earnings between primary threshold and upper earnings limit 11%   11%
Employers' secondary Class 1 rate 12.8%   12.8%
Class 4 rate 8% of £5,715 to £43,875 per year 1% above £40,040 per year   8% of £5,715 to £43,875 per year 1% above £43,875 per year
Class 4 lower profits limit £5,715 per year   £5,715 per year
Class 4 upper profits limit £43,875 per year   £43,875 per year
  • For a complete list of rates and allowances for 2011-12, visit the Inland Revenue site.
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