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Tax Tables

Income Tax Allowances, Reliefs and Credits




	2011/12 £	2010/11 £
Given at marginal rate of income tax
Personal allowance (minimum)	7,475	6,475
Personal allowance (age 65-74)	9,940	9,490
Personal allowance (age 75+)	10,090	9,640

Blind Person's Allowance	1,980	1,890

Rent-a-room tax free home income* *restricted to £2,125 if letting jointly	4,250	4,250

Relief restricted to 10%
Married couples/Civil partnerships allowance (age under 75 and born before 6th April 1935)	N/A	N/A
Married couples/Civil partnerships allowance (age 75+)	7,295	6,965
Married couples/Civil partnerships allowance (minimum)	2,800	2,670
Income limit for age-related allowances	24,000	22,900
Personal allowances progressively reduced £1 for £2 income above £100,000

Child Tax Credit (CTC)
Family element	545	545
Family element baby addition	N/A	545
Child element	2,555	2,300
Disabled child element	2,800	2,715
Severely disabled child element	1,130	1,095

Working Tax Credit (WTC)
Basic element	1,920	1,920
Couples & lone parent element	1,950	1,890
30 hour element	790	790
Disabled worker element	2,650	2,570
Severe disability element	1,130	1,095
50+ return to work payment (16-29 hours)	1,365	1,320
50+ return to work payment (30+ hours)	2,030	1,965

Childcare Element of WTC
Maximum eligible cost for one child	£175 per week	£175 per week
Maximum eligible cost for two or more children	£300 per week	£300 per week
Percentage of eligible costs covered	80%	70%

Withdrawal Rates for CTC & WTC
First income threshold	6,420	6,420
First income threshold for CTC only	15,860	16,190
First withdrawal rate	41%	39%
Second income threshold	40,000	50,000
Second withdrawal rate	41%	6.67%
Income increase disregarded	10,000	25,000

Limits for other reliefs
Enterprise Investment Scheme (EIS)	30%	20%
Maximum Investment	500,000	500,000
EIS capital gains re-investment	Unlimited	Unlimited

Venture Capital Trusts (VCT) @ 30%
Maximum Investment	200,000	200,000

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