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| Personal Allowances: | ||||||||||||||
| 2008/09 | 2007/08 | |||||||||||||
| single person | £5,435 | £5,225 | £5,035 | £4,895 | £4,745 | £4,615 | £4,615 | £4,535 | £4,385 | £4,335 | £4,195 | £4,045 | £3,765 | £3,525 |
| married couple (married man) | - | - | - | - | - | - | - | - | £1,970 | £1,900 | £1,830 | £1,790 | £1,720 | |
| Tax relief on the married couple's allowance was restricted to 20% in 1994/5, 15% from 1995/96 and 10% from 1999/2000. The allowance was abolished from April 2000 (except 10% if at least one spouse was born before 6 April 1935). | ||||||||||||||
| Age Allowance: | ||||||||||||||
| 2008/09 | 2007/08 | 2006/07 | 2005/06 | 2004/05 | 2003/04 | 2002/03 | 2001/02 | |||||||
| single person 65 plus | £7,850* | £7,550 | £7,280 | £7,090 | £6,830 | £6,610 | £6,100 | £5,990 | £5,790 | £5,720 | £5,410 | £5,220 | £4,910 | £4,630 |
| single person 75 plus | £8,000* | £7,690 | £7,420 | £7,220 | £6,950 | £6,720 | £6,370 | £6,260 | £6,050 | £5,980 | £5,600 | £5,400 | £5,090 | £4,800 |
| Married Couple's Allowance (husband/wife aged less than 75 & born before 6/4/1935) | ||||||||||||||
| 2008/09 | 2007/08 | 2006/07 | 2005/06 | 2004/05 | ||||||||||
| - either spouse 65 plus | £6,535 | £6,285 | £6,065 | £5,905 | £5,725 | £5,565 | £5,465 | £5,365 | £5,185 | £5,125 | £3,305 | £3,185 | £3,115 | £2,995 |
| - either spouse 75 plus | £6,625 | £6,365 | £6,135 | £5,975 | £5,795 | £5,635 | £5,535 | £5,435 | £5,255 | £5,195 | £3,345 | £3,225 | £3,155 | £3,035 |
| income limit (to get full age allowance) | £21,800 | £20,900 | £20,100 | £19,500 | £18,900 | £18,300 | £17,900 | £17,600 | £17,000 | £16,800 | £16,200 | £15,600 | £15,200 | £14,600 |
| 2008/09 | 2007/08 | 2006/07 | 2005/06 | 2004/05 | ||||||||||
| Clawback (reduction of age allowance where income exceeds income limit) | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 | £1 in £2 |
| * the age-related allowances are to be further increased, above inflation, via measures to be included in the Finance Bill 2008. The final figures, as published by HM Treasury on 18 October 2007, are to be £9,030 and £9,180 respectively. | ||||||||||||||
| Basic rate | 20% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 23% | 23% | 23% | 24% | 25% |
| Taxable earnings subject to basic rate of tax [excluding amount subject to lower rate] | £36,000 | £32,370 | £31,150 | £30,310 | £29,380 | £28,540 | £27,980 | £27,520 | £26,880 | £26,500 | £22,800 | £22,000 | £21,600 | £21,100 |
| Lower rate | 10% | 10% | 10% | 10% | 10% | 10% | 10% | 10% | 10% | 10% | 20% | 20% | 20% | 20% |
| Taxable earnings subject to lower rate of tax | £0 | £2,230 | £2,150 | £2,090 | £2,020 | £1,960 | £1,920 | £1,880 | £1,520 | £1,500 | £4,300 | £4,100 | £3,900 | £3,200 |
| Capital gains tax exemption | £9,600 | £9,200 | £8,800 | £8,500 | £8,200 | £7,900 | £7,700 | £7,500 | £7,200 | £7,100 | £6,800 | £6,500 | £6,300 | £6,000 |
| Inheritance tax threshold (40% flat rate above this level) | £312,000* | £300,000 | £285,000 | £275,000 | £263,000 | £255,000 | £250,000 | £242,000 | £234,000 | £231,000 | £223,000 | £215,000 | £200,000 | £154,000 |
| * effectively £624,000 for couples and widows | ||||||||||||||
| Company Car Tax | ||
| With effect from 6 April 2002, the tax benefit charge is graduated according to carbon dioxide emissions. The taxable amount is based on the car's list price when new (up to £80,000) and varies from 15% to 35% according to CO2 emissions in grams per kilometre. The former business mileage and age-related discounts (see below) no longer apply. From 6.04.99 - 5.4.02 the tax charge was based on the following percentages of the price of the car for tax purposes:
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| Standard cars-under (over) 4 years old, original market value up to £19,250 | 93/94 | 92/93 |
| up to 1,400cc | £2,310 | £2,140 |
| (£1,580) | (£1,460) | |
| 1,401 to 2,000cc | £2,990 | £2,770 |
| (£2,030) | (£1,880) | |
| over 2,000cc | £4,800 | £4,440 |
| (£3,220) | (£2,980) | |
| Expensive cars - under (over) four years old, original market value £19,251 to £29,000 | £6,210 | £5,750 |
| (£4,180) | (£3,870) | |
| over £29,000 | £10,400 | £9,300 |
| (£6,600) | (£6,170) | |
| Car Fuel Benefit - petrol (diesel) | |||||||||||||
| The scale charge prior to 1993/94 was reduced by 50% if the employee covered at least 18,000 business miles. | |||||||||||||
| 2002/03 | 2001/02 | 2000/01 | 99/00 | 98/99 | 97/98 | 96/97 | |||||||
| up to 1,400cc | £2,240 | £1,930 | £1,700 | £1,210 | £1,010 | £800 | £710 | ||||||
| (£2,850) | (£2,460) | (£2,170) | (£1,540) | (£1,280) | (£740) | (£640) | |||||||
| 1,401 to 2,000cc | £2,850 | £2,460 | £2,170 | £1,540 | £1,280 | £1,010 | £890 | ||||||
| (£2,859) | (£2,460) | (£2,170) | (£1,540) | (£1,280) | (£740) | (£640) | |||||||
| over 2,000cc | £4,200 | £3,620 | £3,200 | £2,270 | £1,890 | £1,490 | £1,320 | ||||||
| (£4,200) | (£3,620) | (£3,200) | (£2,270) | (£1,890) | (£940) | (£820) | |||||||
| no cylinder capacity | £4,200 | £3620 | £3,200 | £2,270 | £1,890 | £1,490 | £1,320 | ||||||
| Car phones | no charge | no charge | no charge | no charge | £200 | £200 | £200 | ||||||
Rule change from April 2003: multiply £14,400 by the same CO2 percentage as used for the car benefit.
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