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UK Tax System
British tax residents are subject to income and capital gains tax on their world-wide income and gains on an arising basis, with
a key exception outlined in our Domicile Status section.
| Income Tax Allowances |
06-07
(£) |
07-08
(£) |
08-09
(£) |
| Personal allowance |
£5,035 |
£5,225 |
£5,435 |
Personal allowance for people aged 65-74
(10% relief) |
£7,280 |
£7,550 |
£9,030 |
Personal allowance for people aged 75 and over
(10% relief) |
£7,420 |
£7,690 |
£9,180 |
Married couple's allowance
(born before 6th April 1935 but aged under 75) |
£6,065 |
£6,285 |
£6,535 |
| Married couple's allowance - aged 75 and over |
£6,135 |
£6,365 |
£6,625 |
| Income limit for age-related allowances |
£20,100 |
£20,900 |
£21,800 |
| Minimum amount of married couple's allowance |
£2,350 |
£2,440 |
£2,540 |
| Blind person's allowance |
£1,660 |
£1,730 |
£1,800 |
| Income Tax Bands |
06-07
Rate |
07-08
Rate |
08-09
Rate |
06-07
(£) |
07-08
(£) |
08-09
(£) |
| Starting Rate |
10% |
10% |
abolished |
£0 -
£2,150 |
£0 -
£2,230 |
abolished |
| Basic Rate |
22% |
22% |
22% |
£2,151 -
£33,300 |
£2,231 -
£34,600 |
£0 -
£36,000 |
| Higher Rate |
40% |
40% |
40% |
over £33,300 |
over £34,600 |
over £36,000 |
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Dynamic Management Solutions Limited is a company registered in England and Wales with company number 3652783
and whose business address and registered office is 3rd Floor, 3 Copthall Ave, London, EC2R 7BH |
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