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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.