|
Budget
2005
Changes
at a glance
|
|
|
Income
Tax
|
Tax
Bands
|
2004/05
|
2005/006
|
|
Lower
Rate Tax Band
|
£2,020
|
£2,090
|
|
Tax
in Band
|
£202.00
|
£209.00
|
|
Rate
|
10%
|
10%
|
|
Basic
Rate Tax Band
|
£2,021-£31,400
|
£2,091-£32,400
|
|
Tax
in Band
|
£6,463.60
|
£6,668.20
|
|
Rate
|
22%
|
22%
|
|
Higher
Rate Tax Band
|
£31,400+
|
£32,400+
|
|
Tax
in Band
|
unlimited
|
unlimited
|
|
Rate
|
40%
|
40%
|
|
Allowances
& Reliefs
|
2004/005
|
2005/06
|
|
Personal
allowance
|
£4,745.00
|
£4,895.00
|
|
Personal
allowance 65-74
|
£6,830.00
|
£7,090.00
|
|
Personal
allowance 75+
|
£6,950.00
|
£7,220.00
|
|
Married
couple's allowance*
|
|
|
|
...if
older partner aged 65-74*
|
£5,725.00
|
£5,905.00
|
|
...if
older partner aged 75+*
|
£5,795.00
|
£5,975.00
|
|
.minimum
amount
|
£2,210
|
£2,280
|
|
Age
allowance withdrawn
(to personal allowance levels) by £1 for every £2 of
income over
|
£18,900.00
|
£19,500.00
|
|
* = Relief given at 10% since 1999/2000.
|
|
|
|
|
