Income tax allowances
| Allowances | 2011/12 | 2012/13 | 2013/14 | 2014/15 |
| Personal Allowances up to 5 April 2013: * | | | | |
| age under 65 | 7,475 | 8,105 | see below | see below |
| age 65-74 | 9,940 | 10,500 | see below | see below |
| age 75 and over | 10,090 | 10,660 | see below | see below |
| Personal Allowances from 6 April 2013: * | | | | |
| those born after 5 April 1948 | N/A | N/A | 9,440 | 10,000 |
| those born on or between 6 April 1938 and 5 April 1948 | N/A | N/A | 10,500 | 10,500 |
| those born before 6 April 1938 | N/A | N/A | 10,660 | 10,660 |
| Married couple's allowance: | | | | |
| maximum amount | 7,295 | 7,705 | 7,915 | TBA |
| minimum amount | 2,800 | 2,960 | 3,040 | TBA |
| Blind person's allowance | 1,980 | 2,100 | 2,160 | TBA |
| Income limit for personal allowance | 100,000 | 100,000 | 100,000 | 100,000 |
| Income limit for age-related personal allowance ** | 24,000 | 25,400 | N/A | N/A |
| Income limit for personal allowance for those born before 6 April 1948 ** | N/A | N/A | 26,100 | TBA |
* Up to and including 2012/13, an individual's personal allowance depends on their age and their income in the tax year. From 2013/14 an individual's personal allowance depends on their date of birth and their income in the tax year. Only people born before 6 April 1948 are entitled to age-related personal allowance; only people born before 6 April 1938 are entitled to the higher amount of age-related personal allowance. Individuals born on or after 6 April 1948 are entitled to the basic personal allowance.
** The age-related personal allowance reduces where the individual's income in the tax year is above the income limit by £1 for every £2 above the limit until the level of the basic personal allowance is reached.
Income tax - taxable bands
| 2011/12 | Band | 2012/13 | Band | 2013/14 | Band |
| Starting rate for savings 10% | Up to £2,560 | Starting rate for savings 10% | Up to £2,710 | Starting rate for savings 10% | Up to £2,790 |
| Basic rate 20% | Up to £35,000 | Basic rate 20% | Up to £34,370 | Basic rate 20% | Up to £32,010 |
| Higher rate 40% | £35,001 to £150,000 | Higher rate 40% | £34,371 to £150,000 | Higher rate 40% | £32,011 to £150,000 |
| Additional rate 50% | Over £150,000 | Additional rate 50% | Over £150,000 | Additional rate 45% | Over £150,000 |
Age allowance restriction - personal allowance
| 2011/12 | 2012/13 | 2013/14 |
| Income limit for receiving basic personal allowance only - aged 65-74 | 28,930 | 30,190 | N/A |
| Income limit for receiving basic personal allowance only - aged 75 or over | 29,230 | 30,510 | N/A |
| Income limit for receiving basic personal allowance only - born between 6 April 1938 and 5 April 1948 | N/A | N/A | 28,220 |
| Income limit for receiving basic personal allowance only - born before 6 April 1938 | N/A | N/A | 28,540 |
Dividends
| 2011/12 | Tax rate | 2012/13 | Tax rate | 2013/14 | Tax rate |
| Up to £35,000 | 10% | Up to £34,370 | 10% | Up to £32,010 | 10% |
| £35,001 -£150,000 | 32.50% | £34,371 -£150,000 | 32.50% | £32,011 -£150,000 | 32.50% |
| Over £150,000 | 42.50% | Over £150,000 | 42.50% | Over £150,000 | 37.50% |
National Insurance contributions (NIC)
Class 1 primary NIC (employees EE)
| £ per week (unless stated) | 2011/12 | 2012/13 | 2013/14 |
| Lower earnings limit | 102 | 107 | 109 |
| Primary threshold | 139 | 146 | 149 |
| Upper accruals point | 770 | 770 | 770 |
| Upper earnings limit | 817 | 817 | 797 |
| EE primary Class 1 rate between primary threshold and upper earnings limit | 12% | 12% | 12% |
| EE primary Class 1 rate above upper earnings limit | 2% | 2% | 2% |
| EE contracted-out rebate - salary-related schemes | 1.6% | 1.4% | 1.4% |
| Married women’s reduced rate between primary threshold and upper earnings limit | 5.85% | 5.85% | 5.85% |
| Married women’s rate above upper earnings limit | 2% | 2% | 2% |
Class 1 secondary NIC (employers - ER)
| £ per week (unless stated) | 2011/12 | 2012/13 | 2013/14 |
| Secondary threshold | 136 | 144 | 148 |
| ER secondary Class 1 rate above secondary threshold | 13.8% | 13.8% | 13.8% |
| ER contracted-out rebate, salary-related schemes | 3.7% | 3.4% | 3.4% |
| ER contracted-out rebate, money-purchase schemes | 1.4% | Abolished from 6 April 2012 | Abolished from 6 Apil 2012 |
Class 2 NIC (self-employed)
| £ per week (unless stated) | 2011/12 | 2012/13 | 2013/14 |
| Class 2 rate | 2.50 | 2.65 | 2.70 |
| Class 2 small earnings exception (per year) | 5,315 | 5,595 | 5,725 |
| Special Class 2 rate for share fishermen | 3.15 | 3.30 | 3.35 |
| Special Class 2 rate for volunteer development workers | 5.10 | 5.35 | 5.45 |
Class 3 NIC (voluntary)
| £ per week (unless stated) | 2011/12 | 2012/13 | 2013/14 |
| Class 3 rate | 12.60 | 13.25 | 13.55 |
Class 4 NIC (self-employed)
| £ per year | 2011/12 | 2012/13 | 2013/14 |
| Class 4 lower profits limit | 7,225 | 7,605 | 7,755 |
| Class 4 upper profits limit | 42,475 | 42,475 | 41,450 |
| Class 4 rate between lower profits limit and upper profits limit | 9% | 9% | 9% |
| Class 4 rate above upper profits limit | 2% | 2% | 2% |
Capital gains tax
| 2011/12 | 2012/13 | 2013/14 |
| Standard rate | 18% | 18% | 18% |
| Rate for higher and additional rate taxpayers | 28% | 28% | 28% |
| Annual exemption | 10,600 | 10,600 | TBC |
| Entrepreneurs' Relief rate | 10% | 10% | 10% |
| Entrepreneur's Relief lifetime limit | 10M | 10M | 10M |
TBC - to be confirmed
Inheritance tax
| 2011/12 | 2012/13 | 2013/14 |
| Chargeable lifetime transfers (after exemptions) | | | |
| Up to £325,000 | 0% | 0% | 0% |
| Over £325,000 | 20% | 20% | 20% |
| On death (net estate) | | | |
| Up to £325,000 | 0% | 0% | 0% |
| Over £325,000 | 40% | 40% | 40% |
