Income tax rates and allowances

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TAX RATES - INCOME TAX

Tax Bands	2000-2001	2001-2002	2002-2003	2003-2004
Lower Rate Tax Band	�1,520	�1,880	�1,920	�1,960
Rate	10%	10%	10%	10%
Basic Rate Tax Band	�1,521 - �28,400	�1,881 - �29,400	�1,921 - �29,900	�1,961 - �30,500
Rate	22%	22%	22%	22%
Higher Rate Tax Band	�28,400+	�29,400+	�29,900+	�30,500+
Rate	40%	40%	40%	40%

Allowances & Reliefs	2000-2001	2001-2002	2002-2003	2003-2004
Personal allowance	�4,385.00	�4,535.00	4,615	4,615
Personal allowance 65-74	�5,790.00	�5,990.00	6,100	6,610
Personal allowance 75+	�6,050.00	�6,260.00	6,370	6,720
Married couple's allowance	�2,000.00	�2,070.00	2,110	2,150
...if older partner aged 65-74	�5,185.00	�5,365.00	5,465	5,565
...if older partner aged 75+	�5,255.00	�5,435.00	5,535	5,635
Blind person's allowance	�1,400.00	�1,450.00	�1,400.00	�1,450.00
Widow's bereavement allowance	�2,000.00	�2,000.00	�2,000.00	�2,000.00
Income limit for age-related allowances	�16,200.00	�16,800.00	17,900	18,300

CHILDREN'S TAX CREDIT (CTC)
2002/03 (£)	2003/04 (£)
529	545*

WORKING FAMILIES' TAX CREDIT (WFTC)
	£ per Week 2002/03	£ per Week 2003/04
Basic tax credit	62.50	n/a
30-hour tax credit	11.65	n/a
Child tax credits	26..45	n/a
16 - 18	27.20	n/a
Disabled child tax credit (1)	35.50	n/a
Enhanced Disability TaxCredit (lone parent/couple)	16.25	n/a
Enhanced Disability Tax Credit (child) (2)	46.75	n/a
Maximum eligible childcare costs allowed (3) -1 child	135.00	n/a
Maximum eligible childcare costs allowed (3) - 2 or more children	200.00	n/a
Income threshold	94.50	n/a

(1) Payable in addition to the chid tax credit
(2) Payable instead of the disabled child tax credit
(3) Childcare tax credit is 70% of eligible childcare costs allowed.

DISABLED PERSON'S TAX CREDIT (DPTC)
	£ per Week 2002/03	£ per Week 2003/04
Single person basic tax credit	62.10	n/a
Lone parent/couple basic tax credit	95.30	n/a
30-hour tax credit	11.65	n/a
Child tax credits Under 16	26.45	n/a
16 - 18	27.20	n/a
Enhanced Disability Tax Credit (lone parent/couple)	16.25	n/a
Enhanced Disability Tax Credit (single person)	11.25	n/a
Enhanced Disability Tax Credit (child )(1)	46.75	n/a
Maximum eligible childcare costs allowed (2) - 1 child	135.00	n/a
Maximum eligible childcare costs allowed (2) -2 or more children	200.00	n/a
Income threshold - single person	73.50	n/a
Income threshold - lone parent/couple	94.50	n/a

(1) Payable instead of the disabled child tax credit
(2) Childcare tax credit covers 70% of eligible childcare costs allowed

For tax years 1995-99 click here
For tax years 1998-01 click here

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