Income Tax, Tax Rates

Winters Chartered Accountants and Registered Auditors
29 Ludgate Hill
London EC4M 7JE
England, UK

Tel:
+44 (0) 20 7919 9100

Fax:
+44 (0) 20 7919 9019

Income Tax Rates

2005/06		2004/05
Band £	Rate %	Band £	Rate %
0 - 2,090	10	0 - 2,020	10
2,091 - 32,400	22 *	2,021 - 31,400	22 *
Over 32,400	40 **	Over 31,400	40 **

* Except dividends (10%) and savings income (20%).
** Except dividends (32.5%).
Other income taxed first, then savings income and finally dividends.

Income Tax Reliefs

		2005/06 £	2004/05 £
Personal allowance	- under 65	4,895	4,745
	- 65 - 74 *	7,090	6,830
	- 75 and over *	7,220	6,950
Married couple's allowance (relief at 10%)	- aged less than 75 and born before 6.4.35 *	5,905	5,725
	- 75 and over*	5,975	5,795
	- min. amount	2,280	2,210
* Age allowance income limit		19,500	18,900
(reduce age allowance by £1 for every £2 of excess income over £19,500)
Blind person’s allowance		1,610	1,560

Disclaimer
The information on these tax rates is based upon the 2005 Budget and other earlier announcements and may be subject to amendment by the Finance Act.

If you would like to find out more about our services and how we might be able to assist you, please complete the tax contact form .
We can then have the relevant specialist contact you to briefly discuss your needs. Any such telephone discussion, and of course, any further initial consultation is entirely complimentary.