A Fresh Approach to Tax Investigations
Key Information - Rates and Allowances

Admiral Tax Investigations detail the rates and allowances for the various types of taxes for 2008/09 and 2009/10 below.

Income tax, capital gains tax, and inheritance tax


Per annum (unless stated)

2009-10 (£)

 

2008-09 (£)

 

Income tax personal and age-related allowances

Personal allowance (age under 65)

6,475

 

6,035

Personal allowance (age 65-74)

9,490

 

9,030

Personal allowance (age 75 and over)

9,640

 

9,180

Married couple's allowance* (aged less than 75 and born before 6th April 1935)

**

 

6,535

Married couple's allowance* (age 75 and over)

6,965

 

6,625

Married couple's allowance* - minimum amount

2,670

 

2,540

Income limit for age-related allowances

22,900

 

21,800

Blind person�s allowance

1,890

 

1,800

 

Capital gains tax annual exempt amount

Individuals etc.

10,100

 

9,600

Most trustees

5,050

 

4,800

 

 

 

 

Individual inheritance tax allowance

325,000

 

312,000

 

Pension schemes allowances

Annual Allowance

245,000

 

235,000

Lifetime Allowance

1,750,000

 

1,650,000

* Married couple's allowance is given as a 10% tax credit.
** In the 2009-10 tax year all in this category will become 75 at some point and will therefore be entitled to the age 75 and over allowance.
Income tax: Taxable bands


2009-10

£ per year

2008-09

£ per year

Starting rate: 10%*

0-2,440

Starting rate: 10%*

0-2,320

Basic rate: 20%

0-37,400

Basic rate: 20%*

0-34,800

Higher rate: 40%**

Over 37,400

Higher rate: 40%**

Over 34,800

 * There is a 10p starting rate for savings income only. If an individual's non savings taxable income exceeds the starting rate limit, the 10p starting rate for savings will not be available for savings income.
Corporation tax on profits


£ per year (unless stated)

Y/E 31.03.2010 (%)

Y/E 31.03.2009 (%)

£0-£300,000

21

21

£300,001 - £1,500,000

Marginal relief

Marginal relief

£1,500,001 or more

28*

28*

 * For companies with ring fence profits the small companies' rate of tax on those profits remains at 19 per cent and the MSCR fraction 11/400 for financial years starting 1 April 2007, 2008 and 2009, and the main rate 30 per cent for financial years starting on 1 April 2008 and 2009. Ring fence profits mean the income and gains from oil extraction activities or oil rights in the UK and UK Continental Shelf.
National insurance contributions


£ per week (unless stated)

2009-10

2008-09

Lower earnings limit, primary Class 1

£95

£90

Upper earnings limit, primary Class 1

£844

£770

Upper accruals point

£770

n/a

Primary threshold

£110

£105

Secondary threshold

£110

£105

Employees� primary Class 1 rate between primary threshold and upper earnings limit

11%

11%

Employees� primary Class 1 rate above upper earnings limit

1%

1%

Employees� contracted-out rebate - salary-related schemes

1.6%

1.6%

Employees� contracted-out rebate - money-purchase schemes

1.6%

1.6%

Married women�s reduced rate between primary threshold and upper earnings limit

4.85%

4.85%

Married women�s rate above upper earnings limit

1%

1%

Employers� secondary Class 1 rate above secondary threshold

12.8%

12.8%

Employers� contracted-out rebate, salary-related schemes

3.7%

3.7%

Employers� contracted-out rebate, money-purchase schemes

1.4%

1.4%

Class 2 rate

£2.40

£2.30

Class 2 small earnings exception (per year)

£5,075

£4,825

Special Class 2 rate for share fishermen

£3.05

£2.95

Special Class 2 rate for volunteer development workers

£4.75

£4.50

Class 3 rate (per week)

£12.05

£8.10

Class 4 lower profits limit (per year)

£5,715

£5,435

Class 4 upper profits limit (per year)

£43,875

£40,040

Class 4 rate between lower profits limit and upper profits limit

8%

8%

Class 4 rate above upper profits limit

1%

1%

Working and child tax credits rates


£ per year (unless stated)

2009-10

 

2008-09

 

Working Tax Credit

Basic element

£1,890

 

£1,800

Couple and lone parent element

£1,860

 

£1,770

30 hour element

£775

 

£735

Disabled worker element

£2,530

 

£2,405

Severe disability element

£1,075

 

£1,020

50+ Return to work payment (16-29 hours)

£1,300

 

£1,235

50+ Return to work payment (30+ hours)

£1,935

 

£1,840

 

Childcare element of the Working Tax Credit

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%

 

80%

 

Child Tax Credit

Family element

£545

 

£545

Family element, baby addition

£545

 

£545

Child element

£2,235

 

£2,085

Disabled child element

£2,670

 

£2,540

Severely disabled child element

£1,075

 

£1,020

 

Income thresholds and withdrawal rates

First income threshold

£6,420

 

£6,420

First withdrawal rate

39%

 

39%

Second income threshold

£50,000

 

£50,000

Second withdrawal rate

6.67%

 

6.67%

First threshold for those entitled to Child Tax Credit only

£16,040

 

£15,575

Income disregard

£25,000

 

£25,000

Child benefit and guardian�s allowance rates from 6 April 2008


£ per week

2009-10 (£)

2008-09 (£)

Eldest/Only Child

20.00

18.80

Other Children

13.20

12.55

Guardian�s Allowance

14.10

13.45

With decades of tax investigation experience between our various specialists, Admiral Tax Investigations have the knowledge, ability and tactical awareness to successfully handle a tax investigation at any level.
Our team is made up of former senior HMRC investigators and inspectors. That internal departmental experience is absolutely invaluable and when allied to a proven track record of success within private practice, we are able to offer our clients a totally comprehensive service - regardless of the gravity or seriousness of the tax investigation concerned.
We believe in giving value for money and a client service that is second to none. Our fees are extremely competitive and most importantly our fee structure is absolutely open and transparent.

For a no commitment, confidential discussion about how we can resolve your tax investigation and save you money contact Admiral Tax Investigations day or night using the information listed below

Tel : 0845 519 2206
Email : info@admiraltax.co.uk

An initial consultation will be undertaken without charge and give our consultant the opportunity to offer you the no nonsense, practical advice that you need. Allow Admiral Tax Investigations to take control and be guaranteed absolute peace of mind.