Income Tax Rates
  For individuals and for Discretionary Trusts
Personal Allowances
  Allowances that reduce taxable income and Allowances that reduce tax
Taxable Company Car Benefits
  Scale Charge Calculator, Company Car Fuel Benefits and Inland Revenue Authorised Mileage Rates
Investments
  Investments Limits
Approved Employee Share Incentives
  Enterprise Manangement Incentive, Company Share Option Plan, Share Incentive Plan (Annual limits) and Savings Related Share Option
Pension Contributions
  Pensions
Corporation Tax
  Corporation Tax
Tax Credits
  Tax Credits
Taxable Social Security Benefits
  Main Taxable Social Security Benefits
National Insurance Contribution
  Employee, self employed, employer and voluntary contributions.
Inheritance Tax
  Rates on cumulative transfers and Main Exemptions.
Interest on Tax
  Annual Rates
Capital Gains Tax
  Annual exemptions and Taper relief
Civil Partnership Act 2004
  Civil Partnership Act 2004
Employer Provided Benefits
  Vans, Supported Childcare and Loaned Computing equipment.
Capital Allowances
  Plant & Machinery, Private Motor Cars and Other Items.
Stamp Duty
  Stamp Duty and Land Tax
Value Added Tax ( VAT )
  Vans, Supported Childcare and Loaned Computing equipment.
 
PENSION CONTRIBUTIONS
 
 
Allowable %
of net earnings
Maximum 2005/06 contribution
       
Age at start of tax year.
RAP
PPP
£
Up to 35
17.5
17.5
18,480
36 - 45
17.5
20.0
21,120
46 - 50
17.5
25.0
26,400
51 - 55
20.0
30.0
31,680
56 - 60
22.5
35.0
36,960
61 or more
27.5
40.0
42,240
Life assurance (out of above)
5.0
5.0
5,280
AVC's
15.0
15,840
       
   
2005 / 06
2004/ 05
   
£
£
Earnings cap  
105,600
102,000
Permitted gross contribution level irrespective of age / earnings.  
3,600
3,600
       
Retirement Annuity Plan limits apply to pre 1 July 1988 RAP policies. The pensions regime will be fundamentally changed from 6th April 2006.

 

 
Important Notice
Whilst every effort has been made to ensure accuracy, information contained in these Tax Tables may not be comprehensive and readers should not act upon it without seeking professional advice. These figures are based on the budget statement of 16 March 2005 and may be affected by subsequent legislation.