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INCOME TAX ALLOWANCES
(3) Tax relief for the Married Couple’s Allowance is given at the rate of 10 per cent.
(4) In the 2009-10 tax year all Married Couple’s Allowance claimants in this category will become 75 at some point during the year and will therefore be entitled to the higher amount of the allowance – for those aged 75 and over.
INCOME TAX RATES AND TAXABLE BANDS
RATES AND ALLOWANCES NATIONAL INSURANCE CONTRIBUTIONS
CORPORATION TAX RATES
INHERITANCE TAX THRESHOLDS
If the estate – including any assets held in trust and gifts made within seven years of death – is more than the threshold, Inheritance Tax will be due at 40 per cent on the amount over the nil rate band.
STAMP DUTY LAND TAX RATES FOR RESIDENTIAL PROPERTY
Residential land or property SDLT rates and thresholds
For first time buyers the zero rate band is extended to £250,000 from 25 March 2010 for a limited period to 25 March 2012.
From April 2011 a new 5% rate will be introduced for property sales over £1m.
RATES AND ALLOWANCES TRAVEL
Approved mileage rates
PASSENGER PAYMENTS CARS AND VANS
COMPANY CARS ADVISORY FUEL RATES FROM 1 DECEMBER 2009
From the change on 1 December 2009, the revised rates will take effect from the specified date rather than one month later, allowing them to reflect fuel prices more quickly. For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either.
VALUE ADDED TAX (VAT)