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DAVID J. COX, ACPA -
TAX RATES
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| TAX RATES FOR 2007/2008 | TAX RATES FOR 2008/2009 | ||||||
| Personal allowance | 5225.00 | 6035.00 | |||||
| Aged 65-74 | 7550.00 | 9030.00 | |||||
| Aged 75 and over | 7690.00 | 9180.00 | |||||
| Income limit | 20900.00 | 21800.00 | |||||
| INCOME TAX RATES | |||||||
| At 10% on £ | up to | 2230.00 | At 10% on £ | up to | 0.00 | ||
| At 22% on £ | 2231 to 34600 | 32370.00 | At 20% on £ | up to | 34800.00 | ||
| At 40% on £ | over 34600 | At 40% on £ | over 34800 | ||||
| CLASS 4 NIC | |||||||
| Profits |
maximum £34840 |
34840.00 |
maximum £40040 |
40040.00 | |||
| Exempt | 5225.00 | Exempt | 5435.00 | ||||
| Class 4 NIC @ 8.0% on | 29615.00 | Class 4 NIC @ 8.0% on | 34605.00 | ||||
| Class 4 NIC @ 1.0% on excess over £34840 | 0.00 | Class 4 NIC @ 1.0% on excess over £34605 | 0.00 | ||||