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Personal allowance (age under 65) |
£5,035 |
Personal allowance (age 65-74) |
£7,280 |
Personal allowance (age 75 and over) |
£7,420 |
Married couple’s allowance* |
£6,065 |
Married couple’s allowance* (age
75 and over) |
£6,135 |
Married couple’s allowance*
– minimum amount |
£2,350 |
Age allowances income limit |
£20,100 |
* Tax relief for the married couple’s allowance
is given at the rate of 10%, and is
only available where at least one spouse was born before 6 April 1935.
The same
allowances and conditions apply for civil partners.
| Lower earnings limit, primary class 1 |
£84 a week |
| Upper earnings limit, primary class 1 |
£645 a week |
| Primary threshold | £97 a week |
| Secondary threshold | £97 a week |
| Employees’ primary class 1 rate | 11% of £97.01 to £645 a week 1% above £645 a week |
| Employees’ contracted-out rebate | 1.6% |
| Married women’s reduced rate | 4.85% |
| Employers’ secondary class 1 rate | 12.8% on earnings above £97 a week |
| Employers’ contracted-out rebate, salary-related schemes | 3.5% |
| Employers’ contracted-out rebate, money-purchase schemes | 1.0% |
| Class 2 rate | £2.10 a week |
| Class 2 small earnings exception | £4,465 a year |
| Special class 2 rate for share fishermen | £2.75 a week |
| Special class 2 rate for volunteer development workers | £4.20 a week |
| Class 3 rate | £7.55 a week |
| Class 4 rate | 8% of £5,035 to £33,540 a year 1% above £33,540 a year |
| Class 4 lower profits limit | £5,035 a year |
| Class 4 upper profits limit | £33,540 a year |
| This guide is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking action on the basis of the contents of this publication. The guide represents our understanding of the law and HM Revenue & Customs practice as at December 2005, which are subject to change. |
The Acumen Investment Partnership • Southlands • Buxton Road • Bosley •
Macclesfield • SK11 0PS
Tel: 01260 223115 • Email:
