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Taking care of business

Income Tax Allowances

TAX RATES
2009-10
2008-09
Starting rate band to
NIL
NIL
Tax rate
0%
0%
Basic rate band - next
37,400
38,400
Tax rate
20%
20%
Higher rate band
Taxable income over
37,400
34,800
Tax rate
40%
40%
PERSONAL ALLOWANCES
Under 65 (at end of tax year)
6,475
6,035
65-74 (at end of tax year)
9,490
9,030
75 and over (at end of tax year)
9,640
9,180
Blind persons allowance
1,890
1,800

NATIONAL INSURANCE ALLLOWANCES

CLASS 1 (not contracted out)
2009-10
2008-09
Payable on weekly earnings
LEL
95
90
Primary Threshold (PT)
110
105
UEL
844
770
Employee's rate (PT to UEL)
11%
11%
above UEL
1%
1%
Employer's rate (above PT)
12.8%
12.8%
No employee's national insurance is payable
for those aged 65 and over
CLASS 2 (Self-employed)
2009-10
2008-09
Weekly
2.40
2.30
Small earnings exception
5,075
4,825
CLASS 4
(Self-employed on profits)
2009-10
2008-09
Lower profits limit
5,715
5,435
Upper profits limit
43,875
40,040
Rate on profits between lower and upper limits
8%
8%
Rate on profits above upper limit
1%
1%

 

 

 

 

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© 2008 DG Accountancy Services PO Box 1600 CROYDON CR0 4WA England (UK)
T: +44(0) 870 777 0279 F: +44(0) 870 420 4308
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D G Accountancy Services is a trading name of Business Bods Ltd. Registered Office: 31 Harley Street, London W1G 9QS
Registered in England and Wales Company No. 5279415
DG Bookkeeping services, based in Croydon Surrey (Taking care of business). DG Accountancy Services provide cost effective small business service. DG Bookkeeping Services for simple bookkeeping. DG Accountancy Services for VAT returns. DG Accountancy Services for payroll. DG Accountancy Services for CIS. Accountancy Services for sales invoicing. DG Credit Control DG National Insurance & tax rates and allowances. DG Bookkeeping Services for sales invoicing and credit control. DG Accountancy Services for taking care of business.