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Prime Advisors Ltd,
NEW ADDRESS:
Ocean Air house
Suite 200, Floor 1,
750-760 High Road, Leytonstone,
London E11 3AW
Tel - 0044 208 530 6929
Fax - 0044 208 989 1179
E-mail: primeadvisors@yahoo.co.uk

 
   

INCOME TAX

 

Income Tax Rates

2003-2004

2002-2003

10% on first

£1,960

£1,920

22% on next

£28,540

£27,980

40% on income over

£30,500

£29,900

Dividends for basic rate taxpayers

10%

10%

Dividends for higher rate tax payers

32.5%

32.5%

Other savings income for basic rate tax payers

20%

20%

Certain Trusts

34%

34%

Dividends for certain trusts

25%

25%

 

Main Income Tax Reliefs

2003-2004

2002-2003

Personal allowance (Basic)

£4,615

£4,615

Personal allowance (age 65-74)

£6,610

£6,100

Personal allowance (age 75 & over)

£6,720

£6,370

Married couple's allowance (age 65 & born before 6/4/35)*

£5,565

£5,465

Married couple's allowance (age 75 & over)*

£5,635

£5,535

Income limit for age-related allowances

£18,300

£17,900

Blind person's allowance

£1,510

£1,480

Enterprise Investment Scheme at 20%§

£150,000

£150,000

Venture Capital Trust at 20%

£100,000

£100,000

 

*Allowances where relief is restricted to 10%
§ CGT taper relief given on a cumulative basis for serial investors. With effect from
6/4/99 for shares acquired after 5/4/98.

 

 

   
 

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