UK Tax Tables 2008/2009

Tax Rates and Allowances

2007-08 (£) 2008-09 (£) Increase (£)
INCOME TAX ALLOWANCES:
Personal allowance 5,225 6,035 +210
CAPITAL GAINS TAX ANNUAL EXEMPT AMOUNT:
Individuals etc: 9,200 9,600 +400
Other trustees: 4,600  4,800 +200
Inheritance tax threshold 300,000 312,000 +12,000
PENSIONS SCHEMES:
Annual allowance: £225,000 £235,000 +10,000
Lifetime allowance: 1,600,000 1,650,000 +50,000

Taxable Bands

Taxable bands 2007-08 (£) Taxable bands 2008-09 (£)
Starting rate 10% 0 - 2,230 - -
Basic rate 22% 2,231 - 34,600 Basic rate 20% 0 - 34,800
Higher rate 40% Over 34,600 Higher rate 40% Over 34,800

Corporation Tax Rates

Band Corporation tax profits 2007-08 (£) Corporation tax profits 2008-09 (£)
0 - 300,000 20% 21%
300,001 - 1,500,000 Marginal relief Marginal relief
1,500,001 or more 30% 28%

* The Small companies rate rose to 21% in April 2008, and will then rise to 22% in April 2009.

REV2: National Insurance Rates

2007-08 2008-09
Primary threshold £100 per week £105 per week
Secondary threshold £100 per week £105 per week
Employees’ primary class 1 rate on earnings between primary threshold and upper earnings limit 11% of £100.01 to £670 per week 1% above £670 per week 11% of £105.01 to £770 per week 1% above £770 per week
Employers’ secondary Class 1 rate 12.8% on earnings above £100 per week 12.8% on earnings above £105 per week
Class 4 rate 8% of £5,225 to £34,840 per year 1% above £34,840 per year 8% of £5,435 to £40,040 per year 1% above £40,040 per year
Class 4 lower profits limit £5,225 per year £5,435
Class 4 upper profits limit £34,840 per year £40,040

For further rates and allowances and historic tables see HMRC.