TCM4000 Reference Section | Inland Revenue Rates and Allowances |
Income Tax |
Allowances | 2000 - 2001 | 2001 - 2002 | ||
Personal allowance | £4,385 | £4,535 | ||
Personal allowance for people aged 65-74 | £5,790 | £5,990 | ||
Personal allowance for people aged 75 and over | £6,050 | £6,260 | ||
Income limit for age-related allowances | £17,000 | £17,600 | ||
Married couples allowance for people born before 6 April 1935 | £5,185 | £5,365 | ||
Married couples allowance - aged 75 or more | £5,255 | £5,435 | ||
Minimum amount of married couples allowance | £2,000 | £2,070 | ||
Childrens tax credit | n/a | £5,200 | ||
Blind persons allowance | £1,400 | £1,450 | ||
The rate of relief for the continuing married couples allowance and maintenance relief for people born before 6 April 1935, and for the childrens tax credit, is 10%. |
Taxable bands | 2000 - 2001 | 2001 - 2002 | ||
Starting rate 10% | £0 - £1,520 | £0 - £1,880 | ||
Basic rate 22% | £1,521 - £28,400 | £1,881 - £29,400 | ||
Higher rate 40% | over £28,400 | over £29,400 | ||
Trusts | 34% | 34% | ||
Schedule F Trusts | 25% | 25% |
Source: HM Government Inland Revenue |