Tax Facts 2009/10
Income tax rates, reliefs and tax credits
| INCOME TAX RATES | |||
|---|---|---|---|
| 2009/10 | 2008/9 | ||
| Band £ | Rate % | Band £ | Rate % |
| 0 - 2,440 | 10* | 0 - 2,230 | 10* |
| 2,441 - 37,400 | 20** | 2,321 - 34,800 | 22*** |
| over 37,400* | 40*** | Over 34,800 | 40**** |
* Only applicable to dividends and savings income. |
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| INCOME TAX RELIEFS | |||
|---|---|---|---|
| 2009/10 £ |
2008/9 £ |
||
| Personal Allowance | under 65 | 6,475 | 6,035 |
| 65 to 74* | 9,490 | 9,030 | |
| 75 and over* | 9,640 | 9,180 | |
| Married Couples allowance (relief at 10%) | aged less than 75 and born before 6.4.35** |
n/a | 6,535 |
| 75 and over* | 6,965 | 6,625 | |
| min amount | 2,670 | 2,540 | |
| Age allowance income limit* | 22,900 | 21,800 | |
| Blind Persons Allowance | 1,890 | 1,800 | |
* As announced on 13 May 2008 and confirmed in the Finance Act. |
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| TAX CREDITS | ||
|---|---|---|
| 2009/10 £ |
2008/9 £ |
|
Working Tax Credit |
||
Basic element - max |
1,890 | 1,800 |
Childcare element - 80% of eligible costs up to £175 per week (£300 if two or more children) |
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Child Tax Credit (CTC) |
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Child element - per child - max |
2,235 | 2,085 |
Family element |
545 | 545 |
Baby addition |
545 | 545 |
| Reductions in maximum rates 39% of income above £6,420* p.a.39% (37%) of income above £6,420* (£5,220*) p.a. |
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*If only CTC is claimed, the threshold is £16,040 (£15,575) p.a. The family element of CTC is not reduced unless income is more than £50,000 p.a. when it is reduced by £1 for every £15 of additional income. |
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Disclaimer
The information in this tax card is based upon the 2009 Budget and other earlier announcements and may be subject to amendment by the Finance Act.