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Income tax personal and age-related allowances
Per year 2012-13 2013-14

Personal allowance (age under 65)
£8,105 £9,440

Personal allowance (age 65-75)
£10,500 £10,500

Personal allowance (age 75 and over)
£10,660 £10,660

Married couple’s allowance (age 77 and over)
£7,705 £7,915

Married couple’s allowance – minimum amount
£2,960 £3,040
Income tax: Taxable bands
2012-13 2013-14

Savings starting rate*: 10%
0-£2,710 0-£2,790

Basic rate: 20%
0-£34,370 0 – £32,010

Higher rate: 40%
£34,371 – £150,000 £32,011 – £150,000

Additional rate:
(reduced 5% in 2013-14)
Over £150,000 (50%) Over £150,000 (45%)

* Only available if non savings income is less than this amount

Income limit for age-related allowances
(2013-14 figure applies to those aged 65 and over)
£25,400 £26,100

Income limit for under 65 personal allowance
£100,000 £100,000

Blind person’s allowance
£2,100 £2,160

Capital gains tax annual exempt amount

Individuals etc.
£10,600 £11,000*

Most trustees
£5,300 £5,500*

Individual inheritance tax allowance
£325,000 £325,000

Pension schemes allowances

Annual Allowance
£50,000 £50,000

Lifetime Allowance
£1,500,000 £1,500,000

* Estimate – Awaiting confirmation that annual exempt amount will increase in line with CPI (then 1% in 2014-15)

Capital gains tax rates
2012-13
2013-14

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)
2012-13
2013-14

£0-£300,000
20%
20%

£300,001 – £1,500,000
Marginal rate
Marginal rate

£1,500,001 or more
24%
23%*

* Annual 1% reductions announced in 2011 Budget were accelerated with another 1% to reach a rate of 21% by 2014-15. Source: HMRC Corporation Tax rates

National insurance contributions
per week (unless stated)
2012-13
2013-14

Lower earnings limit, primary Class 1
£107
£109

Upper earnings limit, primary Class 1
£817
£817

Upper Accruals point
£770
£770

Primary threshold
£146
£149

Secondary threshold
£144
£148

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
1.4%
1.4%

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
£2.65
£2.70

Class 2 small earnings exception (per year)
£5,595
£5,725

Special Class 2 rate for share fishermen
£3.30
£3.35

Special Class 2 rate for volunteer development workers
£5.35
£5.45

Class 3 rate (per week)
£13.25
£13.55

Class 4 lower profits limit (per year)
£7,605
£7,755

Class 4 upper profits limit (per year)
£42,475
£41,450

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)
2012-13
2013-14

Working Tax Credit

Basic element
£1,920
£1,920

Couple and lone parent element
£1,950
£1,970

30 hour element
£790
£790

Disabled worker element
£2,790
£2,855

Severe disability element
£1,190
£1,220

Childcare element of the Working Tax Credit

Maximum eligible cost for one child
£175pw
£175pw

Maximum eligible cost for two or more children
£300pw
£300pw

Percentage of eligible costs covered
70%
70%

Child Tax Credit

Family element
£545
£545

Child element
£2,690
£2,720

Disabled child element
£2,950
£3,015

Severely disabled child element
£1,190
1,220

Income thresholds and withdrawal rates

First income threshold
£6,420
£6,420

First withdrawal rate
41%
41%

First threshold for those entitled to Child Tax Credit only
£15,860
£15,910

Income rise disregard
£10,000
£5,000
Income fall disregard £2,500 £2,500

Source: Tables confirming tax and tax credit rates and thresholds for 2013-14

Individual Savings Account (ISA)
Annual ISA subscription limit
2012-13
2013-14

Overall limit
£11,280
£11,520

of which cash
£5,640
£5,760

of which stocks & shares
£11,280
£11,520
Junior ISA subscription limit £3,600 £3,720

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%
£150,001-£250,000
£125,001-£250,000

3%
£250,001-£500,000
£250,001-£500,000

4%
£500,001-£1m
£500,001-£1m

5%
£1,000,001-£2m
£1,000,001-£2m
7% Over £2m (from 22 March 2012) Over £2m