Income Tax

Updated Budget 2007


Tax Bands 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008
Lower Rate Tax Band £1,960 £2,020 £2,090 £2,150 £2,230
Tax in Band £196.00 £202.00 £209.00 £215.00 £223.00
Rate 10% 10% 10% 10% 10%
Basic Rate Tax Band £1,961 - £30,500 £2,021 - £31,400 £2,091 - £32,400 £2,151 - £33,300 £2,231 - £34,600
Tax in Band £6,278.58 £6,463.60 £6,668.20 £6,852.78 £7,121.18
Rate 22% 22% 22% 22% 22%
Higher Rate Tax Band £30,500+ £31,400+ £32,400+ £33,300+ £34,600+
Tax in Band unlimited unlimited unlimited unlimited unlimited
Rate 40% 40% 40% 40% 40%

 

Allowances & Reliefs 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008
Personal allowance £4,615 £4,745 £4,895 £5,035 £5,225
Personal allowance 65-74 £6,610 £6,830 £7,090 £7,280 £7,550
Personal allowance 75+ £6,720 £6,950 £7,220 £7,420 £7,690
Married couple's allowance* £2,150 £2,210 £2,280 £2,350 £2,440
...if older partner aged 65-74* £5,565 £5,725 £5,905 £6,065 £6,285
...if older partner aged 75+* £5,635 £5,795 £5,975 £6,135 £6,365
Blind person's allowance £1,510 £1,560 £1,610 £1,660 £1,730
Age allowance withdrawn
(to personal allowance levels)
by £1 for every £2 of income over
£18,300 £18,900 £19,500 £20,100 £20,900

* = Relief given at 10% since 1999/2000