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Budget 2006


Introduction

Main Income Tax reliefs

Income Tax Rates and bands

Car Benefit Assessment

Tax Free Mileage Allowances

National Insurance Contributions

Pension Contributions

Inheritance Tax

Value Added Tax

Capital Gains Tax

Corporation Tax

Main capital allowances

Stamp Duty & Stamp Duty Land Tax

Earliest due dates for payment of tax

Income Tax Rates and bands


  2006/07 2005/06
 
Lower rate on first £2,150 £2,090
Basic rate on next 31,150 30,310
Higher rate on taxable income over 33,300 32,400
 
Tax rates 2006/07 (unchanged from 2005/06)    
Rates differ for Dividends/Interest/Other D I O
Starting rate 10% 10% 10%
Basic rate 10% 20% 22%
Higher rate 32.5% 40% 40%
Dividends taxed at highest part of income, then interest, then other
Discretionary trust      
- within £1,000 standard rate band (2005/06: £500) 10% 20% 22%
- thereafter 32.5% 40% 40%