Tax tables 2012-13

Editorial team
AccountingWEB.co.uk
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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)

 

 &poun...

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22nd Mar 2012 10:43

Annual exempt amount for CGT

SI 2012/881 was laid on 20 March, published yesterday. This confirms the AEA for 2012/13 is £11,200.

But the various tables published as part of the Budget material incorrectly show the AEA for 2012/13 as £10,600 - the same as for 2011/12

Thanks (1)
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By Judruff
22nd Mar 2012 11:09

45% Tax rate

 

The cut applies to 2012/13, not 2013/14

 

Thanks (1)

Very interesting - thanks

We may be getting a bit too detail-focused at this point (is that possible when it comes to tax rates), but SI 1012/881 makes no mention of the lower AEA "for most trustees".

In previous years, this has been 50% of the individual AEA, but in the absence of any legislative confirmation we have left it at the previously published £5,000.

Update: I've also adjusted the table to acknowledge the 45% rate applicable from next year.

Thanks (0)
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31st Mar 2012 21:05

In the main legislation

At the risk of going off half cocked; isn't the answer in the main legislation at schedule 1 para 2. This says the AEA will be half that which applies for individuals. So once you set the rate for them you automatically set the rate for trustees

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