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Tax allowances and National Insurance Contributions (NICs)

The basic personal allowance and starting point for national insurance contributions will rise in 2006/07 to £5,035. The rates of employers’, employees’ and class 4 NICs will stay unchanged. The flat rate of NIC for the self-employed will remain at £2.10 a week for 2006/07. A full list of the 2006/07 income tax allowances and NIC rates and thresholds is set out at the end of this summary.
Summary
Tax allowances and NICs
Pension simplification
Tax credits
Residence and domicile
Corporation tax
First year allowances
Work in progress - the impact of accounting standards
VAT annual accounting
Real Estate Investment Trusts (REITs)
Film taxation
Tax avoidance measures
Tables
Links
The Acumen Investment Partnership is authorised and regulated by the Financial Services Authority.
  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

The Acumen Investment Partnership • Southlands • Buxton Road • Bosley • Macclesfield • SK11 0PS
Tel: 01260 223115 • Email: