taxrates02







	Introduction


				Allowed at the top rate of tax		Note	2009/10	2008/09
	Main Income Tax Reliefs

				Personal Allowance (under 65)			£6,475	£6,035
	Income Tax Rates and Bands

				Personal Allowance (65 - 74)		1	£9,490	£9,030
	Car Benefit Assessment

				Personal Allowance (75 and over		1	£9,640	£9,180
	Tax Free Mileage Allowances

				Blind Person’s Allowance			£1,890	£1,800
	National Insurance Contributions

				Allowed only at 10%

	Pension Contributions

				Married Couple’s Allowance (up to 74)		1,2	n/a	£6,535
	Inheritance Tax

				Married Couple’s Allowance (75 and over)		1,2	£6,965	£6,625
	Value Added Tax

				Income limit for age-related allowances			£21,800	£21,800
	Capital Gains Tax

				Important annual limits

	Corporation Tax
				Individual Savings Account investment (ISA)			£7,200	£7,200

				Enterprise Investment Scheme investment (EIS)		3	£500,000	£500,000
	Main Capital Allowances

				Venture Capital Trust investment (VCT)		4	£200,000	£200,000
	Stamp Taxes

				Rent a room exemption			£4,250	£4,250
	Due Dates for Payment of Tax


		Notes
	Social Security Benefits

		1.			Only available if born before 6th April 1935
	Tax Credits
		2.			The age-related allowances are reduced by £1 for every £2 by which income exceeds the income limit, until the age-related allowance is reduced to the normal allowance. The personal allowance is reduced before the married couple’s allowance. The married couple’s allowance is reduced to a minimum of £2,670 (2008/09: £2,540)

			3.		Relief at 20%
		4.			Relief at 30%




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