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Article Index
HM Treasury's United Kingdom Budget 2005
Personal Allowances
Taxation of Dividends
Personal Reliefs
Benefits in Kind
Advisory Fuel Rates for Company Cars
Tax Free Approved Mileage Rates
Enterprise Investment Scheme (EIS)
Venture Capital Trusts (VCT)
Approved Employee Share Schemes
Individual Savings Accounts (ISA)
Child Trust Fund
Personal Pension Plans (PPP) And Retirement Annuity Plans (RAP)
Capital gains tax
Inheritance Tax
Corporation Tax (Corporate Tax)
Corporate Capital Gains
Corporate Venturing Scheme
Construction Industry Scheme
Capital Allowances and Reliefs
Value Added Tax
National Insurance Contributions (NIC)
Tax Credits
Gifts To Charities
Landfill Tax
Insurance Premium Tax
Aggregates Levy
Climate Change Levy
Stamp Duty
Dates For Payment Of Tax
Page 1 of 30

Budget 2005

brought to you courtesy of Grant ThorntonIncome Tax Rates

Taxable income
Rate
Cumulative tax
2005/
2006
2004/
2005
 
2004/
2005
2003/
2004
£
£
%
£
£
1-2,090
1-2,020
10
209.00
202.00
2,091-32,400
2,021-31,400
22
6,877.20
6,665.60
over 32,400
over 31,400
40
-
-

Savings income (excluding dividends) is taxed at 10% within the starting rate band and at 20% within the basic rate band.

Rate applicable to discretionary and accumulation and maintenance trusts 40% above standard rate band of £500 (40% on all income 2004/2005)

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.



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