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UK Tax Tables 2006/2007

Tax Rates and Allowances

2005-06 (£) 2006-07 (£) Increase (£)
INCOME TAX ALLOWANCES:
Personal allowance 4,895 5,035 140
CAPITAL GAINS TAX ANNUAL EXEMPT AMOUNT:
Individuals etc: 8,500 8,800 300
Other trustees: 4,250  4,400 150
Inheritance tax threshold 275,000 285,000 10,000
PENSIONS SCHEMES:
Annual allowance: N/A £215,000 N/A
Lifetime allowance: N/A £1,500,000 N/A

Taxable Bands

Taxable bands 2005-06 (£) Taxable bands 2006-07 (£)
Starting rate 10% 0 - 2,090 Starting rate 10% 0 - 2,150
Basic rate 22% 2,091 - 32,400 Basic rate 22% 2,150 - 33,300
Higher rate 40% Over 32,400 Higher rate 40% Over 33,300

Corporation Tax Rates

Corporation tax profits 2005-06 (£) Corporation tax profits 2006-07 (£)
Starting rate 10% 0 - 10,000 Starting rate zero N/A
Marginal relief 10,001 - 50,000 Marginal relief N/A
Small companies' rate 20% 50,001 - 300,000 Small companies' rate 19% 0 - 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

2005-06 2006-07
Primary threshold £94 per week £97 per week
Secondary threshold £94 per week £97 per week
Employees’ primary class 1 rate on earnings between primary threshold and upper earnings limit 11% of £94.01 to £630 per week 1% above £630 per week 11% of £97.01 to £645 per week 1% above £645 per week
Employers’ secondary Class 1 rate 12.8% on earnings above £94 per week 12.8% on earnings above £97 per week
Class 4 rate 8% of £4,895 to £32,760 per year 1% above £32,760 per year 8% of £5,035 to £33,540 per year 1% above £33,540 per year
Class 4 lower profits limit £4,895 per year £5,035 per year
Class 4 upper profits limit £32,760 per year £33,540 per year