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Tax tables 2011-12

9th Dec 2010
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AIA

These tables reflect announcements made on 24 March, 22 June and 2 & 9 December 2010. For more detail on these rates, see Annual uprating of certain tax and tax credits rates and thresholds (112kb PDF)

Income tax, capital gains tax, and inheritance tax

Per year 2010-11 2011-12
Income tax personal and age-related allowances
Personal allowance (age under 65)  £6,475   £7,475
Personal allowance (age 65-74)  £9,490   £9,940
Personal allowance (age 75 and over)  £9,640 £10,090
Married couple's allowance* (age 75 and over)  £6,965   £7,295
Married couple's allowance* - minimum amount  £2,670   £2,800
Income limit for age-related allowances  £22,900  £24,000
Income limit for under 65 personal allowance £100,000 £100,000
Blind person’s allowance  £1,890 £1,980
Capital gains tax annual exempt amount
Individuals etc.  £10,100  £10,600
Most trustees  £5,050  £5,300
Individual inheritance tax allowance  £325,000 £325,000 
Pension schemes allowances
Annual Allowance £255,000  £50,000
Lifetime Allowance  £1,800,000 £1,800,000
* Married couple's allowance is given at the rate of 10%.

Income tax: Taxable bands

  2010-11 2011-12
Savings starting rate*: 10%  0 - £2,440  0 - £2,560
Basic rate1: 20%  0 - £37,400  0 - £35,000
Higher rate: 40% £37,401 - £150,000  £35,001 - £150,000
Additional rate: 50% Over £150,000 Over £150,000 
* Only available if non savings income is less than this amount

Capital gains tax rates

  2010-11 2011-12
Standard rate of CGT 18% 18%
Higher rate (from 23/6/10) 28% 28%
Entrepreneurs' Relief fraction (to 22/6/10)  4/9 n/a
Rate for Entrepreneurs (from 23/6/10) 10% 10%
Corporation tax on profits
£ per year (unless stated) 2010-11 2011-12
£0-£300,000  21%  20%
£300,001 - £1,500,000 Marginal rate  Marginal rate 
£1,500,001 or more  28%  26%*
* This represents an additional 1% reduction announced in 2011 Budget with subsequent annual 1% reductions leading to a rate of 23% by 2014-15.

National insurance contributions

per week (unless stated) 2010-11 2011-12
Lower earnings limit, primary Class 1  £97 £102
Upper earnings limit, primary Class 1  £844  £817
Upper Accruals point  £770  £770
Primary threshold  £110  £139
Secondary threshold  £110  £136
Employees’ primary Class 1 rate between primary threshold and upper earnings limit  11%  12%
Employees’ primary Class 1 rate above upper earnings limit  1%  2%
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%  5.85%
Married women’s rate above upper earnings limit  1%  2%
Employers’ secondary Class 1 rate above secondary threshold  12.8%  13.8%
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  £2.50
Class 2 small earnings exception (per year)  £5,075  £5,315
Special Class 2 rate for share fishermen  £3.05  £3.15
Special Class 2 rate for volunteer development workers  £4.75  £5.10
Class 3 rate (per week)  £12.05  £12.60
Class 4 lower profits limit (per year)  £5,715 £7,225 
Class 4 upper profits limit (per year)  £43,875 £42,475 
Class 4 rate between lower profits limit and upper profits limit  8%  9%
Class 4 rate above upper profits limit  1%  2%
Working and child tax credits rates
£ per year (unless stated) 2010-11 2011-12
Working Tax Credit
Basic element  £1,920 £1,920
Couple and 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 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  80% 70% 
Child Tax Credit
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
Income thresholds and withdrawal rates
First income threshold  £6,420 £6,420 
First withdrawal rate  39%  41%
Second income threshold  £50,000  £40,000
Second withdrawal rate  6.67%  41%
First threshold for those entitled to Child Tax Credit only  £16,190  £15,860
Income disregard  £25,000  £10,000
* The baby element of the Child Tax Credit will be removed from April 2011.

Individual Savings Account (ISA)

Annual ISA subscription limit 2010-11 2011-12
Overall limit  £10,200 £10,680 
  of which cash  £5,100 £5,340
  of which stocks & shares  £10,200 £10,680
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 announced that:
• the planned 1-pence-per litre Fuel Duty escalator will be abolished;
• and there will be an additional 1 pence cut in the rate of fuel duty from 6pm on 23 March.

The 2012-13 RPI increase will be deferred from April 2012 to August 2012.

Replies (9)

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By sandradavidson
10th Dec 2010 09:48

SMP for 2011-12

Has the new SMP rate for 2011-12 been released?  Can't seem  to find it. A point in the right direction would be appreciated.

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By Coates Franklin Ltd
13th Dec 2010 23:10

NIC thresholds

Anyone know why the primary and secondary NIC thresholds have diverged?  I thought the tax system was supposed to be being simplified?!

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By thomas34
24th Mar 2011 09:06

Simplification?

Good question Coates Franklin.

Employers pay NI on salaries over £7,075, employees pay NI on salaries over £7,225, employees pay tax on salaries over £7,475. Yep, all seems pretty simple to me.

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By lawmaniz
24th Mar 2011 12:12

Statutory Maternity Pay/Allowance.

From 11 April 2011, statutory maternity pay (earnings related pay) will be 90% of employee's normal weekly earnings, payable for 6 weeks;

from the same date, statutory maternity pay (prescribed rate) will be £128.73 or 90% of normal weekly earnings if lower, payable for 33 weeks;

statutory maternity allowance is payable at the same rate but for 39 weeks: see Social Security Benefits Up-rating Order 2010, S.I. No.793 (statement made to Parlament on 08 December 2010 by the Minister for Pensions, Steve Webb, MP.

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By simplypn
28th Mar 2011 11:24

Personal allowances

It looks like the tax tables are wrong.  They show the personal allowance for 2011/12 as being £7475.  Should it not be £8105?

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By Jim Broome
28th Mar 2011 13:11

Nope...

£8105 from April 2012...

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By abelljms
28th Mar 2011 19:47

pa 11/12

 

 

your query about pers allce amount proves how sucessful the chancellors 'lies' are in pulling wool......

 

As the CT rates announcement proves - u can't trust them for REAL rate until it IS the REAL rate. - Rest is all aspirational fantasyland.

 

 

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By abelljms
28th Mar 2011 20:21

IHT

 

not that I will pay it........

 

40% both years?

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By Barkster
22nd Mar 2012 10:41

The link says...........

Tax tables - a handy summary of the rates for 2012-13

but these are tax tables for 2010-11 and 2011-12

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