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UK Tax Tables 2005/2006

Tax Rates and Allowances

2004-05 (£) 2005-06 (£) Increase (£)
INCOME TAX ALLOWANCES:
Personal allowance 4,745 4,895 150
CAPITAL GAINS TAX ANNUAL EXEMPT AMOUNT:
Individuals etc: 8,200 8,500 300
Other trustees: 4,100  4,250 150
Inheritance tax threshold 263,000 275,000 12,000
Pension schemes earnings cap 102,000 105,600 3,600

Taxable Bands

Taxable bands 2004-05 (£) Taxable bands 2005-06 (£)
Starting rate 10% 0 - 2,020 Starting rate 10% 0 - 2,090
Basic rate 22% 2,021 - 31,400 Basic rate 22% 2,091 - 32,400
Higher rate 40% Over 31,400 Higher rate 40% Over 32,400

Corporation Tax Rates

Corporation tax profits 2004-05 (£) Corporation tax profits 2005-06 (£)
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

2004-05 2005-06
Primary threshold £91 per week £94 per week
Secondary threshold £91 per week £94 per week
Employees’ primary class 1 rate on earnings between primary threshold and upper earnings limit 11% of £91.01 to £610 per week 1% above £610 per week 11% of £94.01 to £630 per week 1% above £630 per week
Employers’ secondary Class 1 rate 12.8% on earnings above £91 per week 12.8% on earnings above £94 per week
Class 4 rate 8% of £4,745 to £31,720 per year 1% above £31,720 per year 8% of £4,895 to £32,760 per year 1% above £32,760 per year
Class 4 lower profits limit £4,745 per year £4,895 per year
Class 4 upper profits limit £31,720 per year £32,760 per year

For further rates and allowances and historic tables see HMRC.