Income tax allowances
| Allowances | 2010/11 | Change
£ | 2011/12 | Change
£ | 2012/13
|
| Personal allowance (age under 65) | 6,475 | +1,000 | 7,475 | +630 | 8,105 |
| Personal allowance (age 65-74) | 9,490 | +450 | 9,940 | +560 | 10,500 |
| Personal allowance (age 75 and over) | 9,640 | +450 | 10,090 | +570 | 10,660 |
| Married couple's allowance (age 75 and over) | 6,965 | +330 | 7,295 | +410 | 7,705 |
| Married couple's allowance - minimum amount | 2,670 | +130 | 2,800 | +160 | 2,960 |
| Income limit for age-related allowances | 22,900 | +1,100 | 24,000 | +1,400 | 25,400 |
| Blind person’s allowance | 1,890 | +90 | 1,980 | +120 | 2,100 |
Income tax - taxable bands
| 2010/11 | Band | 2011/12 | Band | 2012/13 | Band |
| Starting rate for savings 10% | Up to £2,440 | Starting rate for savings 10% | Up to £2,560 | Starting rate for savings 10% | Up to £2,710 |
| Basic rate 20% | Up to £37,400 | Basic rate 20% | Up to £35,000 | Basic rate 20% | Up to £34,370 |
| Higher rate 40% | Over £37,400 | Higher rate 40% | £35,001 to 150,000 | Higher rate 40% | £34,371 to 150,000 |
| Additional rate 50% | Over 1£150,000 | Additional rate 50% | Over £150,000 | Additional rate 50% | Over £150,000 |
Age allowance restriction - personal allowance
| 2010/11 | 2011/12 | 2012/13 |
| Income limit for receiving basic personal allowance only - aged 65-74 | 28,930 | 28,930 | 30,190 |
| Income limit for receiving basic personal allowance only - aged 75 or over | 29,230 | 29,230 | 30,510 |
Dividends
| 2010/11 | Tax rate | 2011/12 | Tax rate | 2012/13 | Tax rate |
| Up to £37,400 | 10% | Up to £35,000 | 10% | Up to £34,700 | 10% |
| Over £37,400 | 32.50% | £35,001-150,000 | 32.50% | £34,701-150,000 | 32.50% |
| | Over £150,000 | 42.50% | Over £150,000 | 42.50% |
National Insurance contributions (NIC)
Class 1 primary NIC (employees EE)
| £ per week (unless stated) | 2010/11 | Change | 2011/12 | Change | 2012/13 |
| Lower earnings limit | 95 | +5 | 102 | +5 | 107 |
| Primary threshold | 110 | +29 | 139 | +7 | 146 |
| Upper accruals point | 770 | 0 | 770 | 0 | 770 |
| Upper earnings limit | 844 | -27 | 817 | 0 | 817 |
| EE primary Class 1 rate between primary threshold and upper earnings limit | 11% | +1 | 12% | 0 | 12% |
| EE primary Class 1 rate above upper earnings limit | 1% | +1 | 2% | 0 | 2% |
| EE contracted-out rebate - salary-related schemes | 1.6% | 0 | 1.6% | -0.2 | 1.4% |
| Married women’s reduced rate between primary threshold and upper earnings limit | 4.85% | +1 | 5.85% | 0 | 5.85% |
| Married women’s rate above upper earnings limit | 1% | +1 | 2% | 0 | 2% |
Class 1 secondary NIC (employers - ER)
| £ per week (unless stated) | 2010/11 | Change | 2011/12 | Change | 2012/13 |
| Secondary threshold | 110 | +26 | 136 | +8 | 144 |
| ER secondary Class 1 rate above secondary threshold | 12.8% | +1 | 13.8% | 0 | 13.8% |
| ER contracted-out rebate, salary-related schemes | 3.7% | 0 | 3.7% | -0.3 | 3.4% |
| ER contracted-out rebate, money-purchase schemes | 1.4% | 0 | 1.4% | | Abolished from 6 April 2012 |
Class 2 NIC (self-employed)
| £ per week (unless stated) | 2010/11 | Change | 2011/12 | Change | 2012/13 |
| Class 2 rate | 2.40 | +0.10 | 2.50 | +0.15 | 2.65 |
| Class 2 small earnings exception (per year) | 5,075 | +240 | 5,315 | +280 | 5,595 |
| Special Class 2 rate for share fishermen | 3.05 | +0.10 | 3.15 | +0.15 | 3.30 |
| Special Class 2 rate for volunteer development workers | 4.75 | +0.35 | 5.10 | +0.25 | 5.35 |
Class 3 NIC (voluntary)
| £ per week (unless stated) | 2010/11 | Change | 2011/12 | Change | 2012/13 |
| Class 3 rate | 12.05 | +0.55 | 12.60 | +0.65 | 13.25 |
Class 4 NIC (self-employed)
| £ per week (unless stated) | 2010/11 | Change | 2011/12 | Change | 2012/13 |
| Class 4 lower profits limit (per year) | 5,715 | +1,510 | 7,225 | +380 | 7,605 |
| Class 4 upper profits limit (per year) | 43,875 | -1,400 | 42,475 | 0 | 42,475 |
| Class 4 rate between lower profits limit and upper profits limit | 8% | +1 | 9% | 0 | 9% |
| Class 4 rate above upper profits limit | 1% | +1 | 2% | 0 | 2% |
Capital gains tax
| Up to 22 June 2010 | Change | From 23 June 2010 | Change | 2011/12 | Change | 2012/13 |
| Standard rate | 18% | 0 | 18%* | 0 | 18% | | |
| Rate for higher and additional rate taxpayers | 18% | +10% | 28%# | 0 | 28% | | |
| Annual exemption | 10,100 | 0 | 10,100 | 500 | 10,600 | | |
| Entrepreneurs' relief rate | 10% | 0 | 10% | 0 | 10% | | |
| Entrepreneur's relief lifetime limit | 1M 2009/10 and 2M thereafter | 3 million | 5M | 5M | 10M | | |
*For gains where gain plus the balance of taxable income does not exceed £37,400
# Rate applies to the excess over £37,400 of gains plus taxable income
Inheritance tax
| 2010/11 | Change | 2011/12 | Change | 2012/13 |
| Chargeable lifetime transfers (after exemptions) | | | | | |
| Up to £325,000 | 0% | 0 | 0% | 0 | 0% |
| Over £325,000 | 20% | 0 | 20% | 0 | 20% |
| On death (net estate) | | | | | |
| Up to £325,000 | 0% | 0 | 0% | 0 | 0% |
| Over £325,000 | 40% | 0 | 40% | 0 | 40% |
