Personal Tax Consideration

Income Tax allowances table

Income Tax allowances 2010-11 2011-12 2012-13
Personal   Allowance (1) £6,475 £7,475 £8,105
Income   limit for Personal Allowance £100,000 £100,000 £100,000
Personal   Allowance for people aged 65-74 (1)(2) £9,490 £9,940 £10,500
Personal   Allowance for people aged 75 and over (1)(2) £9,640 £10,090 £10,660
Married   Couple’s Allowance (born before 6th April 1935 and aged 75 and over) (2) (3) £6,965 £7,295 £7,705
Income   limit for age-related allowances £22,900 £24,000 £25,400
Minimum   amount of Married Couple’s Allowance £2,670 £2,800 £2,960
Blind   Person’s Allowance £1,890 £1,980 £2,100
  1. From the 2010-11 tax year the Personal Allowance reduces where the income is above £100, 000 – by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of age.
  2. These allowances reduce where the income is above the income limit for age-related allowances by £1 for every £2 of income above the limit. For the 2010-11 tax year the Personal Allowance for people aged 65 to 74 and 75 and over can be reduced below the basic Personal Allowance where the income is above £100,000.
  3. Tax relief for the Married Couple’s Allowance is given at the rate of 10 per cent.


Income Tax rates and taxable bands

Rate 2010-11 2011-12 2012-13
Starting   rate for savings: 10%* £0-£2,440 £0-£2,560 £0-£2,710
Basic   rate: 20% £0-£37,400 £0-£35,000 £0-£34,370
Higher   rate: 40% £37,401-£150,000 £35,001-£150,000 £34,371-£150,000
Additional   rate: 50% Over £150,000 Over   £150,000 Over   £150,000

* The 10 per cent starting rate applies to savings income only. If, after deducting your Personal Allowance from your total income liable to Income Tax, your non-savings income is above this limit then the 10 per cent starting rate for savings will not apply. Non-savings income includes income from employment, profits from self-employment, pensions, income from property and taxable benefits.


The rates available for dividends are the 10 per cent ordinary rate, the 32.5 per cent dividend upper rate and the dividend additional rate of 42.5 per cent.

Click on this link to view Personal Tax Rates and Allowances

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