Quality
Impartial
Advice
|
SUMMARY
| Income tax allowances |
2012-13 (£) |
2013-14 (£) |
| |
|
Provisional |
| Personal allowance |
8105 |
9,440 |
| Personal allowance for people aged 65-74 |
10,500 |
10,500 |
| Personal allowance for people aged 75 over |
10,660 |
10,660 |
| Married couple's allowance - aged 75 and over |
7,705 |
6,965 |
| Income limit for age-related allowances |
25,400 |
25,400 |
| Income limit for personal allowance |
100,000 |
100,000 |
| Income Tax: taxable bands |
2012-13 (£) |
2013-14* (£) |
| Starting rate for savings 10% |
0-2,710 |
|
| Basic rate: 20% |
0-34,3700 |
0-32,425 |
| Higher rate: 40% |
over
37,371 |
over 32,426 |
| Highest Rate |
50%>
150,000 |
45%>
150,000 |
| Capital Gains Tax: Individuals and Trustees |
|
|
|
| Annual exempt amount |
|
2012-13 (£) |
2013-14 (£) |
| Individuals etc. * |
|
10,600 |
10,600 |
| Other Trustees |
|
5,300 |
5,300 |
Individual Savings Account - Annual Limit
|
|
11,280 |
11,520 |
| Inheritance Tax Nil Rate Band |
|
325,000 |
325,000 |
National Insurance - Rates and Allowances
|
|
|
£ per week |
2012-13 (£) |
2013-14 (£) |
| Lower earnings limit |
95 |
97 |
| Upper earnings limit (UEL) |
817 |
817 |
| Employees’ primary Class 1 rate between threshold and UEL |
12% |
12% |
| Employers’ secondary Class 1 rate above threshold |
13.8% |
13.8% |
* 2013 - 2014 figures subject to confirmation on the 2014 Budget
|
This Table Summary
Highlights the major rates
For any queries,
Please contact us.
|
