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UK Tax Tables 2004/2005

Tax Rates and Allowances

2003-04 (�) 2004-05 (�) Increase (�)
INCOME TAX ALLOWANCES:
Personal allowance 4,615 4,745 130
CAPITAL GAINS TAX ANNUAL EXEMPT AMOUNT:
Individuals etc: 7,900 8,200 300
Other trustees: 3,950 4,100 150
Inheritance tax threshold 255,000 263,000 8000
Pension schemes earnings cap 99,000 102,000 3000

Taxable Bands

Taxable bands 2003-04 (�) Taxable bands 2004-05 (�)
Starting rate 10% 0 - 1,960 Starting rate 10% 0 - 2,020
Basic rate 22% 1,961 - 30,500 Basic rate 22% 2,021 - 31,400
Higher rate 40% Over 30,500 Higher rate 40% Over 31,400

Corporation Tax Rates

Corporation tax profits 2003-04 (�) Corporation tax profits 2004-05 (�)
Starting rate 10% 0 - 10,000 Starting rate zero 0 - 10,000
Marginal relief 10,001 - 50,000 Marginal relief 10,001 - 50,000
Small companies' rate 20% 50,001 - 300,000 Small companies' rate 19% 50,001 - 300,000
Marginal relief 300,001 - 1,500,000 Marginal relief 300,001 - 1,500,000
Main rate 30% 1,500,001 or more Main rate 30% 1,500,001 or more

REV2: National Insurance Rates 2002-04

2003-04 2004-05
Primary threshold �89 per week �91 per week
Secondary threshold �89 per week �91 per week
Employees� primary class 1 rate on earnings between primary threshold and upper earnings limit 11% of �89.01 to �595 per week 1% above �595 per week 11% of �91.01 to �610 per week 1% above �610 per week
Employers� secondary Class 1 rate 12.8% on earnings above �89 per week 12.8% on earnings above �91 per week
Class 4 rate 8% of �4,615 to �30,940 per year 1% above �30,940 per year 8% of �4,745 to �31,720 per year 1% above �31,720 per year
Class 4 lower profits limit �4,615 per year �4,745 per year
Class 4 upper profits limit �30,940 per year �31,720 per year

For further rates and allowances and historic tables see HMRC.