Income Tax Allowances, Reliefs and Credits
Tax Tables
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| 2010/11 £ |
2011/12 £ |
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| Given at marginal rate of income tax | ||
| Personal allowance (minimum) | 6,475 | 7,475 |
| Personal allowance (age 65-74) | 9,490 | 9,940 |
| Personal allowance (age 75+) | 9,640 | 10,090 |
| Blind Person's Allowance | 1,890 | 1,980 |
| Rent-a-room tax free home income* *restricted to £2,125 if letting jointly |
4,250 | 4,250 |
| Relief restricted to 10% | ||
| Married couples/Civil partnerships allowance (age under 75 and born before 6th April 1935) | N/A | N/A |
| Married couples/Civil partnerships allowance (age 75+) | 6,965 | 7,295 |
| Married couples/Civil partnerships allowance (minimum) | 2,670 | 2,800 |
| Income limit for age-related allowances | 22,900 | 24,000 |
| Child Tax Credit (CTC) | ||
| Family element | 545 | 545 |
| Family element baby addition | 545 | N/A |
| Child element | 2,300 | 2,555 |
| Disabled child element | 2,715 | 2,800 |
| Severely disabled child element | 1,095 | 1,130 |
| Working Tax Credit (WTC) | ||
| Basic element | 1,920 | 1,920 |
| Couples & lone parent element | 1,890 | 1,950 |
| 30 hour element | 790 | 790 |
| Disabled worker element | 2,570 | 2,650 |
| Severe disability element | 1,095 | 1,130 |
| 50+ return to work payment (16-29 hours) | 1,320 | 1,365 |
| 50+ return to work payment (30+ hours) | 1,965 | 2,030 |
| Childcare Element of WTC | ||
| Maximum eligible cost for one child | £175 per week | £175 per week |
| Maximum eligible cost for two or more children | £300 per week | £300 per week |
| Percentage of eligible costs covered | 80% | 70% |
| Withdrawal Rates for CTC & WTC | ||
| First income threshold | 6,420 | 6,420 |
| First income threshold for CTC only | 16,190 | 15,860 |
| First withdrawal rate | 39% | 41% |
| Second income threshold | 50,000 | 40,000 |
| Second withdrawal rate | 6.67% | 41% |
| Income increase disregarded | 25,000 | 10,000 |
| Limits for other reliefs | ||
| Enterprise Investment Scheme (EIS) at 20%/30% | ||
| Maximum Investment | 500,000 | 500,000 |
| EIS capital gains re-investment | Unlimited | Unlimited |
| Venture Capital Trusts (VCT) @ 30% | ||
| Maximum Investment | 200,000 | 200,000 |
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