| Tax information
Unfortunately paying tax is unavoidable.
Without our tax money there would be no NHS, no street lights
and no education.
Income Tax
For most people the first £4,615
you earn is your personal allowance so it is tax free, but
you have to pay tax on any money you earn above that amount.
Use the table below to find out what your personal allowance
is then find out how much tax you pay on anything above that
amount.
Income tax allowances
|
2002-03 (£) |
2003-04 (£) |
| Personal allowance |
4 615 |
4 615 |
| Personal allowance for people aged 65-74 |
6 100 |
6 610 |
| Personal allowance for people aged 75 and over |
6 370 |
6 720 |
| Income limit for age-related allowances |
17 900 |
18 300 |
| Married couple’s allowance for people born
before 6 April 1935 |
5 465 |
5 565 |
| Married couple’s allowance - aged 75 or
more |
5 535 |
5 635 |
| Minimum amount of married couple’s allowance |
2 110 |
2 150 |
| Children’s tax credit |
5 290 |
NA |
| Children's tax credit - baby rate |
10 490 |
NA |
| Blind person’s allowance |
1 480 |
1 510 |
|
| |
| Taxable bands 2002-03
(£) |
| starting rate (10%) |
0 - 1 920 |
| basic rate (22%) |
1 921 - 29 900 |
| high rate (40%) |
over 29 900 |
|
| |
| Taxable bands 2003-04
(£) |
| starting rate (10%) |
0 - 1 960 |
| basic rate (22%) |
1 961 - 30 500 |
| high rate (40%) |
over 30 500 |
|
Other forms of Tax
Click on the appropriate link to
the inland revenue site for more information.
|
