These tables reflect announcements made between December 2011 and March 2012.
For more detail on these rates, see Tables confirming tax and tax credit rates and thresholds for 2012-13 (57kb PDF)
Please note that the information here is derived from published government sources and may not be immune from errors.
For definitive guidance please consult the relevant pages on Gov.uk and alert AccountingWEB of any inaccuracies that you detect.
Tax tables
Income tax, capital gains tax, and inheritance tax
Per year
|
2011-12
|
2012-13
|
Income tax personal and age-related allowances
|
Personal allowance (age under 65)
|
£7,475
|
£8,105
|
|
Personal allowance (age 65-74)
|
£9,490
|
£10,500
|
|
Personal allowance (age 75 and over)
|
£10,090
|
£10,660
|
|
Married couple's allowance* (age 75 and over)
|
£7,295
|
£7,705
|
|
Married couple's allowance* - minimum amount
|
£2,800
|
£2,960
|
|
Income limit for age-related allowances
|
£24,000
|
£25,400
|
|
Income limit for under 65 personal allowance
|
£100,000
|
£100,000
|
|
Blind person’s allowance
|
£1,980
|
£2,100
|
|
Capital gains tax annual exempt amount
|
Individuals etc.
|
£10,600
|
£11,200
|
|
Most trustees
|
£5,300
|
£5,300±
|
|
Individual inheritance tax allowance
|
£325,000
|
£325,000
|
|
Pension schemes allowances
|
Annual Allowance
|
£50,000
|
£50,000
|
|
Lifetime Allowance
|
£1,800,000
|
£1,500,000
|
|
* Married couple's allowance is given at the rate of 10%.
±This figure has not been confirmed by Statutory Instrument - see comments below.
Income tax: Taxable bands
|
2011-12
|
2012-13
|
Savings starting rate*: 10%
|
0-£2,560
|
0-£2,710
|
Basic rate1: 20%
|
0-£35,000
|
0 - £34,370
|
Higher rate: 40%
|
£35,001 - £150,000
|
£34,371 - £150,000
|
Additional rate: 50% (45% from 2012/13)
|
Over £150,000
|
Over £150,000
|
* Only available if non savings income is less than this amount
Capital gains tax rates
|
2011-12
|
2012-13
|
Standard rate of CGT
|
18%
|
18%
|
Higher rate (for higher rate income tax payers)
|
28%
|
28%
|
Rate for Entrepreneurs
|
10%
|
10%
|
Source: HMRC Capital Gains Tax rates
Corporation tax on profits
£ per year (unless stated)
|
2011-12
|
2012-13
|
£0-£300,000
|
20%
|
20%
|
£300,001 - £1,500,000
|
Marginal rate
|
Marginal rate
|
£1,500,001 or more
|
26%
|
24%*
|
* Annual reductions announced in 2011 Budget will continue at 1% to reach a rate of 22% by 2014-15. Source: HMRC Corporation Tax rates
National insurance contributions
per week (unless stated)
|
2011-12
|
2012-13
|
Lower earnings limit, primary Class 1
|
£102
|
£107
|
Upper earnings limit, primary Class 1
|
£817
|
£817
|
Upper Accruals point
|
£770
|
£770
|
|
|
|
Primary threshold
|
£139
|
£146
|
Secondary threshold
|
£136
|
£144
|
Employees’ primary Class 1 rate between primary threshold and upper earnings limit
|
12%
|
12%
|
Employees’ primary Class 1 rate above upper earnings limit
|
2%
|
2%
|
Employees’ contracted-out rebate - salary-related schemes
|
1.6%
|
1.4%
|
Employees’ contracted-out rebate - money-purchase schemes
|
1.6%
|
Abolished
|
Married women’s reduced rate between primary threshold and upper earnings limit
|
5.85%
|
5.85%
|
Married women’s rate above upper earnings limit
|
2%
|
2%
|
Employers’ secondary Class 1 rate above secondary threshold
|
13.8%
|
13.8%
|
Class 2 rate
|
£2.60
|
£2.65
|
Class 2 small earnings exception (per year)
|
£5,315
|
£5,595
|
Special Class 2 rate for share fishermen
|
£3.15
|
£3.30
|
Special Class 2 rate for volunteer development workers
|
£5.10
|
£5.35
|
Class 3 rate (per week)
|
£12.60
|
£13.25
|
Class 4 lower profits limit (per year)
|
£7,225
|
£7,605
|
Class 4 upper profits limit (per year)
|
£42,475
|
£42,475
|
Class 4 rate between lower profits limit and upper profits limit
|
9%
|
9%
|
Class 4 rate above upper profits limit
|
2%
|
2%
|
Working and child tax credits rates
£ per year (unless stated)
|
2011-12
|
2012-13
|
Working Tax Credit
|
Basic element
|
£1,920
|
£1,920
|
|
Couple and lone parent element
|
£1,950
|
£1,950
|
|
30 hour element
|
£790
|
£790
|
|
Disabled worker element
|
£2,650
|
£2,790
|
|
Severe disability element
|
£1,130
|
£1,190
|
|
50+ Return to work payment (16-29 hours)
|
£1,365
|
Removed
|
|
50+ Return to work payment (30+ hours)
|
£2,030
|
Removed
|
|
Childcare element of the Working Tax Credit
|
Maximum eligible cost for one child
|
£175 pw
|
£175 pw
|
|
Maximum eligible cost for two or more children
|
£300 pw
|
£300 pw
|
|
Percentage of eligible costs covered
|
70%
|
70%
|
|
Child Tax Credit
|
Family element
|
£545
|
£545
|
|
Child element
|
£2,555
|
£2,690
|
|
Disabled child element
|
£2,800
|
£2,950
|
|
Severely disabled child element
|
£1,130
|
1,190
|
|
Income thresholds and withdrawal rates
|
First income threshold
|
£6,420
|
£6,420
|
|
First withdrawal rate
|
41%
|
41%
|
|
Second income threshold
|
£40,000
|
Abolished
|
|
Second withdrawal rate
|
41%
|
N/A
|
|
First threshold for those entitled to Child Tax Credit only
|
£15,860
|
£15,860
|
|
Income rise disregard
|
£10,000
|
£10,000
|
|
Income fall disregard |
- |
£2,500 |
Source: Tables confirming tax and tax credit rates and thresholds for 2012-13
Individual Savings Account (ISA)
Annual ISA subscription limit
|
2011-12
|
2012-13
|
Overall limit
|
£10,680
|
£11,280
|
of which cash
|
£5,340
|
£5,640
|
of which stocks & shares
|
£10,680
|
£11,280
|
Junior ISA subscription limit |
£3,600 |
£3,600 |
Stamp taxes and duties
Transfers of land and buildings (consideration paid)
Rate
|
Non residential
|
Residential
|
|
Total value of consideration
|
Zero
|
£0 - £150,000
|
£0 - £125,000
|
|
1%
|
Over £150,001 - £250,000
|
Over £125,001 - £250,000*
|
|
3%
|
Over £250,001 - £500,000
|
Over £250,001 - £500,000
|
|
4%
|
Over £500,000
|
Over £500,000
|
|
5%
|
n/a
|
Over £1,000,000 (from April 2011)
|
|
* First time buyers can claim relief from SDLT on residential transactions up to £250,000 between 25 March 2010 and 25 March 2012
Fuel Duty
Budget 2011 abolished the planned 1p per litre Fuel Duty escalator and announced the 2012-13 RPI increase will be deferred from April 2012 to August 2012.