01253 804133

rates and allowances

Income Tax

Rates £
10% starting rate band on savings income up to* 2,790
Basic Rate 20%
Higher rate of 40% on income over 32,010
Additional rate of 45% on income over Dividends for: 150,000
Basic rate taxpayers 10%
Higher rate taxpayers 32.5%
Additional rate taxpayers 37.5%
Trusts: standard rate band generally 1,000
dividends (rate appicable to trusts) 37.5%
other income (rate appicable to trusts) 45%

*Not available if taxable non-savings income exceeds starting rate band

Main Personal Allowances & Reliefs £
Personal (basic) 9,440
Personal allowance reduced by 50% of income over 100,000
Personal if born between 6 April 1938 and 5 April 1948 10,500
Personal if norn before 6 April 1938 10,660
Married/civil partners (minimum) at 10%* 3,040
Married/civil partners (maximum) at 10% 7,915
Age-related reliefs reduced by 50% of income over 26,100

*Where at least one spouse/civil partner was born before 6 April 1935

Testimonial

Before MLA Accountants & Bookkeepers were introduced to us we were still using a manual cash book, Purchase day book and Purchase Ledger. Utilising their expertise they implemented Sage into our business and provided the necessary training saving us time and money!!!. We have been extremely pleased with all the services provided to us and would not hesitate to recommend them.

Amanda Mellor-Clark, St Annes Pier

 

Preparing our tax return for all our pensionable income was a very daunting process, especially at our age. Steve from MLA Accountants & Bookkeepers helped ease the pain of completeing the return and relived the burden from our older shoulders and his fee for preparing it was a very pleasant surprise.

Robert & Barbara

 

Before MLA Accountants & Bookkeepers were introduced to us we were still using a manual cash book, Purchase day book and Purchase Ledger. Utilising their expertise they implemented Sage into our business and provided the necessary training saving us time and money!!!. We have been extremely pleased with all the services provided to us and would not hesitate to recommend them.

Amanda Mellor-Clark, St Annes Pier