| Income tax rates | 2011-2012 | 2010-2011 |
|---|---|---|
| 10% starting rate for savings* | £2,560 | £2,440 |
| 20% on first/next | £35,000 | £37,400 |
| 40% on income over | £35,000 | £37,400 |
| 50% on income over | £150,000 | £150,000 |
| Dividends for basic rate taxpayers | 10% | 10% |
| Dividends for higher rate taxpayers up to £150,000 | 32.5% | 32.5% |
| Dividends for income over £150,000 | 42.5% | 42.5% |
| Trusts within relevant property regime** | 50% | 50% |
| Dividends for trusts within relevant property regime | 42.5% | 42.5% |
* Restricted to savings income and not available if non-savings income exceeds starting rate limit.
** A standard rate band of £1,000 applies, below this level income will be taxed at no more than 20%.
| Main income tax reliefs | 2011-2012 | 2010-2011 |
|---|---|---|
| Personal allowance (for income up to £100,000)* | £7,475 | £6,475 |
| Personal allowance (age 65-74) | £9,940 | £9,490 |
Personal allowance (age 75 and over) |
£10,090 | £9,640 |
| Married couple's allowance (where born before 06/04/1935)** |
£7,295 | £6,965 |
| Income limit for age-related allowances | £24,000 | £22,900 |
| Blind person's allowance | £1,980 | £1,890 |
| Enterprise Investment Scheme at 30% / 20% *** | £500,000 | £500,000 |
| Venture Capital Trust at 30% | £200,000 | £200,000 |
| Rent-a-room tax-free income | £4,250 | £4,250 |
* From 2010-11 the allowance reduces by £1 for every £2 of income above the limit, irrespective of age.
** Relief is restricted to 10%, subject to conditions (minimum allowance £2,800 for 2011-12).
*** Capital gains tax deferral relief also available.
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