Income tax allowances
£ per year (unless stated) | 2009-10 | Change | 2010-11 |
Income tax personal and age-related allowances |
Personal allowance (age under 65) | £6,475 | - | £6,475 |
Personal allowance (age 65-74) | £9,490 | - | £9,490 |
Personal allowance (age 75 and over) | £9,640 | - | £9,640 |
Married couple's allowance* (age 75 and over) | £6,965 | - | £6,965 |
Married couple's allowance* - minimum amount | £2,670 | - | £2,670 |
Income limit for age-related allowances | £22,900 | - | £22,900 |
Blind person’s allowance | £1,890 | - | £1,890 |
*Married couple's allowance is given at the rate of 10 per cent
Income tax: taxable bands
2009-10 | £ per year | 2010-11 | £ per year |
Starting savings rate: 10%* | £0-£2,440 | Starting savings rate: 10%* | £0-£2,440 |
Basic rate: 20% | £0-£37,400 | Basic rate: 20% | £0-£37,400 |
Higher rate: 40% | Over £37,400 | Higher rate: 40% | £37,401-£150,000 |
Additional rate: 50% | Over £150,000 |
* There is a 10p starting rate for savings only. If an individual’s non-savings taxable income exceeds the starting rate limit, the 10p starting rate for savings will not be available for savings income.
Inheritance tax
£ per year (unless stated) | 2009-10 | Change | 2010-11 |
Individual inheritance tax allowance | £325,000 | - | £325,000 |
Corporation tax on profits
£ per year (unless stated) | 2009-2010 | 2010-2011 |
£0-£300,000 | 21% | 21%* |
£300,001 - £1,500,000 | Marginal Relief | Marginal Relief |
£1,500,001 or more | 28 % | 28 % |
* The planned small companies’ rate increase to 22% is deferred until 2011-12.
National insurance contributions
£ per week (unless stated) | 2009-10 | Change | 2010-11 |
Lower earnings limit, primary Class 1 | £95 | £2 | £97 |
Upper earnings limit, primary Class 1 | £844 | - | £844 |
Upper Accruals Point | £770 | - | £770 |
Primary threshold | £110 | - | £110 |
Secondary threshold | £110 | - | £110 |
Employees’ primary Class 1 rate between primary threshold and upper earnings limit | 11% | - | 11% |
Employees’ primary Class 1 rate above upper earnings limit | 1% | - | 1% |
Employees’ contracted-out rebate - salary-related schemes | 1.6% | - | 1.6% |
Employees’ contracted-out rebate - money-purchase schemes | 1.6% | - | 1.6% |
Married women’s reduced rate between primary threshold and upper earnings limit | 4.85% | - | 4.85% |
Married women’s rate above upper earnings limit | 1% | - | 1% |
Employers’ secondary Class 1 rate above secondary threshold | 12.8% | - | 12.8% |
Employers’ contracted-out rebate, salary-related schemes | 3.7% | - | 3.7% |
Employers’ contracted-out rebate, money-purchase schemes | 1.4% | - | 1.4% |
Class 2 rate | £2.40 | - | £2.40 |
Class 2 small earnings exception (per year) | £5,075 | - | £5,075 |
Special Class 2 rate for share fishermen | £3.05 | - | £3.05 |
Special Class 2 rate for volunteer development workers | £4.75 | £0.10 | £4.85 |
Class 3 rate (per week) | £12.05 | - | £12.05 |
Class 4 lower profits limit (per year) | £5,715 | - | £5,715 |
Class 4 upper profits limit (per year) | £43,875 | - | £43,875 |
Class 4 rate between lower profits limit and upper profits limit | 8% | - | 8% |
Class 4 rate above upper profits limit | 1% | - | 1% |
Working and Child Tax Credits rates
£ per year (unless stated) | April 2009 | Change | April 2010 |
Working Tax Credit |
Basic element | £1,890 | £30 | £1,920 |
Couple and lone parent element | £1,860 | £30 | £1,890 |
30 hour element | £775 | £15 | £790 |
Disabled worker element | £2,530 | £40 | £2,570 |
Severe disability element | £1,075 | £20 | £1,095 |
50+ Return to work payment (16-29 hours) | £1,300 | £20 | £1,320 |
50+ Return to work payment (30+ hours) | £1,935 | £30 | £1,965 |
Childcare element of the Working Tax Credit |
Maximum eligible cost for one child | £175 per week | - | £175 per week |
Maximum eligible cost for two or more children | £300 per week | - | £300 per week |
Percentage of eligible costs covered | 80% | - | 80% |
| Child Tax Credit |
Family element | £545 | - | £545 |
Family element, baby addition | £545 | - | £545 |
Child element | £2,235 | £65 | £2,300 |
Disabled child element | £2,670 | £45 | £2,715 |
Severely disabled child element | £1,075 | £20 | £1,095 |
| Income thresholds and withdrawal rates |
First income threshold | £6,420 | - | £6,420 |
First withdrawal rate | 39% | - | 39% |
Second income threshold | £50,000 | - | £50,000 |
Second withdrawal rate | 6.67% | - | 6.67% |
First threshold for those entitled to Child Tax Credit only | £16,040 | £150 | £16,190 |
Income disregard | £25,000 | - | £25,000 |
Child Benefit
£ per week | Jan 2009 | Change | April 2010 |
Eldest/Only Child | £20 | 30p | £20.30 |
Other Children | £13.20 | 20p | £13.40 |
Guardian's Allowance
£ per week | April 2009 | Change | April 2010 |
Guardian's Allowance | £14.10 | 20p | £14.30 |
Stamp taxes and duties
Transfers of land and buildings (consideration paid)
Rate | Residential in disadvantaged areas | Residential outside disadvantaged areas | Non-residential |
Total value of consideration |
Zero | £0 - £150,000 after 31 December 2009 (£0 - £175,000 until 31 December 2009) | £0 - £125,000 after 31 December 2009 (£0 - £175,000 until 31 December 2009) | £0 - £150,000 |
1% | Over £150,000 - £250,000 after 31 December 2009 (Over £175,000- £250,000 until 31 December 2009) | Over £125,000 - £250,000 after 31 December 2009 (Over £175,000- £250,000 until 31 December 2009) | Over £150,000 - £250,000 |
3% | Over £250,000 - £500,000 | Over £250,000 - £500,000 | Over £250,000 - £500,000 |
4% | Over £500,000 | Over £500,000 | Over £500,000 |
Bingo duty
Bingo duty will be reduced to 20% at Budget 2010.
Landline Duty
Landline Duty will be introduced at a rate of 50p per month for each line from 1 October 2010.
Vehicle excise duty
Motorbikes
Vehicle Excise Duty for Motorcycles: 2010-11 rates
VED band | Change from 2009-10 to 2010-11 | 2010-11 rate |
Up to 150cc | - | £15 |
151-400cc | - | £33 |
401-600cc | +£2 | £50 |
Over 600cc | +£4 | £70 |