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Alongside a small increase in the personal allowance and taxable bands for the 2009/10 tax year, the Government has once again increased NIC rates significantly.
The tax rates on limited company dividends remain the same for 2009/10.
The small companies' corporation tax rate remains at 21%.
The 15% standard VAT rate and revised flat rate VAT rates remain in place until 31st December 2009.
We'll add further useful tax tables for the 2009/10 tax year shortly.
Personal allowance - 2009/10
2008-09 |
2009-10 |
|
Personal Allowance |
£6,035 |
£6,475 |
2008-09 |
2009-10 |
|
Starting rate for savings: 10%* |
£0-£2,320 |
£0-£2,440 |
Basic rate: 20% |
£0-£34,800 |
£0-£37,400 |
Higher rate: 40% |
Over £34,800 |
Over £37,400 |
£ per week |
2007-08 |
2008-09 |
2009-10 |
Lower earnings limit, primary Class 1 |
£87 |
£90 |
£95 |
Upper earnings limit, primary Class 1 |
£670 |
£770 |
£844 |
Upper accruals point |
N/A |
N/A |
£770 |
Primary threshold |
£100 |
£105 |
£110 |
Secondary threshold |
£100 |
£105 |
£110 |
Employees’ primary Class 1 rate between primary threshold and upper earnings limit |
11% |
11% |
11% |
Employees’ primary Class 1 rate above upper earnings limit |
1% |
1% |
1% |
Employers’ secondary Class 1 rate above secondary threshold |
12.8% |
12.8% |
12.8% |
| Class 2 rate |
£2.20 |
£2.30 |
£2.40 |
| Class 2 small earnings exception |
£4,635 per year |
£4,825 per year |
£5,075 per year |
| Class 3 rate |
£7.80 |
£8.10 |
£12.05 |
| Class 4 lower profits limit |
£5,225 per year |
£5,435 per year |
£5,715 per year |
| Class 4 upper profits limit |
£34,840 per year |
£40,040 per year |
£43,875 per year |
| Class 4 rate between lower profits limit and upper profits limit |
8% |
8% |
8% |
| Class 4 rate above upper profits limit |
1% |
1% |
1% |
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