UK Tax Tables 2013/2014

Tax Rates and Allowances

2012-13 (£) 2013-14 (£) Increase (£)
INCOME TAX ALLOWANCES:
Personal allowance 8,105 9,440 +1335
CAPITAL GAINS TAX ANNUAL EXEMPT AMOUNT:
Individuals etc: 10,600 10,600 +0
Inheritance tax threshold 325,000 325,000 -
PENSIONS SCHEMES:
Annual allowance: £50,000 £50,000 -
Lifetime allowance: 1,500,000 1,500,000 -

From the 2010-11 tax year the Personal Allowance reduces where the income is above £100, 000 – by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of age.

Taxable Bands

Taxable bands 2012-13 (£) Taxable bands 2013-14 (£)
*Starting rate 10% 0 - 2,710 *Starting rate 10% 0 - 2,790
Basic rate 20% 0 - 34,370 Basic rate 20% 0 - 32,010
Higher rate 40% 34,371 - 150,000 Higher rate 40% 32,011 - 150,000
Additional rate 50% Over 150,000 Additional rate 50% Over 150,000

* From 2008-09 there is a 10 per cent starting rate for savings income only. If your non-savings income is above this limit then the 10 per cent starting rate for savings will not apply.

The rates available for dividends for the 2013-14 tax year is the 10 per cent ordinary rate, the 32.5 per cent dividend upper rate, and the new dividend additional rate of 37.5 per cent.

Corporation Tax Rates

Band Corporation tax profits 2012-13 (£) Corporation tax profits 2013-14 (£)
0 - 300,000 20% 20%
300,001 - 1,500,000 Marginal relief Marginal relief
1,500,001 or more 24% 23%

From 1 April 2010 onwards, the terminology used to describe some Corporation Tax rates and reliefs changed. This table reflects the new terminology but for ease the changes are shown below:

  • Small Profits Rate - previously Small Companies’ Rate
  • Marginal Relief - previously Marginal Small Companies’ Relief
  • Standard fraction - previously Marginal Small Companies’ Relief fraction

National Insurance Rates

2012-13 2013-14
Primary threshold £146 per week £149 per week
Secondary threshold £144 per week £148 per week
Employees’ primary class 1 rate on earnings between primary threshold and upper earnings limit 12% of £144.01 to £817 per week 2% above £817 per week 12% of £148.01 to £797 per week 2% above £797 per week
Employers’ secondary Class 1 rate 13.8% on earnings above £144 per week 13.8% on earnings above £148 per week
Class 4 rate 9% of £7,605 to £42,475 per year 2% above £42,475 per year 9% of £7,755 to £41,450 per year 2% above £41,450 per year
Class 4 lower profits limit £7,605 per year £7,755
Class 4 upper profits limit £42,475 per year £41,450

For further rates and allowances and historic tables see HMRC.

  
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