Tax and pension allowances for 2010/2011
ISAs
| From April 6 2011 | |
|---|---|
| Annual allowance | £10,680 |
| Cash element | £5,340 |
Inheritance Tax
| 2011-2012 | |
|---|---|
| Personal allowance | £325,000 |
| Couple's allowance | £650,000 |
Capital Gains Tax - Personal Allowance
| 2011-2012 | Gains above annual exemption | |
|---|---|---|
| Individuals | £10,600 | 18% |
Pension Scheme - Personal Allowance
| 2011-2012 | |
|---|---|
| Annual allowance | £255,000 |
| Lifetime allowance | £1,800,000 |
Income Tax - Personal Allowances
| 2011-2012 | |
|---|---|
| Up to 64 Years | £7,475 |
| 65 - 74 Years* | £9,940 |
| Over 75 Years* | £10090 |
| Married couple's allowance* ^ 75+ | £7295 |
| Married couple's allowance^ (minimum amount) | £2800 |
| Income limit for age-related allowances | £24000 |
* These allowances may be lower depending on your income. For more information on how age-related allowances work visit www.hmrc.gov.uk/pensioners/allowances.htm
^ Married couple's allowance is given at the rate of 10%. It applies to couple's where at least one spouse was born before April 6 1935.
Income: Taxable Bands
| 2011-2012 | |
|---|---|
| Basic Rate 20% | £0 - £35,000 |
| Higher Rate 40% | £35,001 - £149,999 |
| Cumulative Tax | £53,000 + |
| Additional Rate Over £150,000 | 50% |
Stamp Duty
| Rate | Residential in disadvantaged areas | Residential outside disadvantaged areas | Non-residential |
|---|---|---|---|
| Total value of consideration | |||
| Zero | £0 - £150,000 | £0 - £125,000 | £0 - £150,000 |
| 1% | Over £150,000 - £250,000 | Over £125,000 - £250,000 | Over £150,000 - £250,000 |
| 3% | Over £250,000 - £500,000 | Over £250,000 - £500,000 | Over £250,000 - £500,000 |
| 4% | Over £500,000 | Over £500,000 | Over £500,000 |
| 5% | Over £1 million | Over £1 million | - |