Table A
Allowances and Reliefs |
Allowed at top rate of tax |
2005/06 |
2004/05 |
Personal Allowance |
£4,895 |
£4,745 |
Personal Allowance (65-74)* |
7,090 |
6,830 |
Personal Allowance (75+)* |
7,220 |
6,950 |
Blind Person's Allowance |
1,610 |
1,560 |
|
Allowed only at 10% |
|
|
Married Couple's Allowance (65-74)* |
5,905 |
5,725 |
Married Couple's Allowance (75+)* |
5,975 |
5,795 |
Income Limit for age-related allowances |
19,500 |
18,900 |
* 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 £2,280 (2004/05: £2,210).
|
|
Bands |
2005/06 |
2004/05 |
Lower |
£2,090 |
£2,020 |
Basic |
next 30,310 |
next 29,380 |
Higher |
over 32,400 |
over 31,400 |
|
Rates differ for Dividend, Interest and Other
income within each band: |
Rates |
2005/06 and 2004/05 |
| |
D |
I |
O |
10% |
10% |
10% |
10% |
20% |
22% |
32.5% |
40% |
40% |
|
|
Table B
Personal Pensions: earnings cap £105,600 (2004/05 - £102,000) |
| |
Percentage |
2005/06 |
2004/05 |
Age on 6 April 2005 (2004 for 2004/2005) |
|
maximum |
maximum |
35 or less |
17.5% |
£18,480 |
£17,850 |
36 - 45 |
20.0% |
21,120 |
20,400 |
46 - 50 |
25.0% |
26,400 |
25,500 |
51 - 55 |
30.0% |
31,680 |
30,600 |
56 - 60 |
35.0% |
36,960 |
35,700 |
61 - 74 |
40.0% |
42,240 |
40,800 |
|
| |
Table C
Benefits In Kind |
Car Benefit Assessment 2005/06
Charge based on a percentage of the initial list price of
the car; the percentage depends on the carbon dioxide
emission ratings of the car, if it has one. For older cars
without a rating, the percentage depends on engine capacity.
For 2005/06 the percentage for a petrol engine is 15%
for ratings up to 140g/km. The percentage increases by 1%
for every complete 5g/km in excess of this (ie at 145, 150
etc), to a maximum of 35%. Diesel cars have 3% added
to this figure, but still have a maximum percentage of 35%. |
| |
Car Fuel Assessment
For 2005/06 the benefit will be calculated using the same
percentage as that used for the car benefit, applied to a
standard figure of £14,400.
The taxable amount will therefore be between £2,160 (15%
- min.) and £5,040 (35% - max.)
|
|
