Income Tax
| 2005-06 | 2004-05 | |
| Starting rate band to | £2,090 | £2,020 |
| Tax Rate | 10% | 10% |
| Basic rate band - next | £30,310 | £29,380 |
| Non-savings rate | 22% | 22% |
| Savings-rate | 20 | 20% |
| UK dividend rate | 10% | 10% |
| Higher rate - income over | £32,400 | £31,400 |
| Higher tax rate | 40% | 40% |
| UK divided rate | 32.5% | 32.5% |
| Allowanced that Reduce Taxable Income | ||
| Personal allowances(PA) - under 65 | £4,895 | £4,745 |
| - under 65 | £7,090 | £6,830 |
| - 75 and over | £7,220 | £6,950 |
| The age-related allowances are progressively | ||
| withdrawn if income exceeeds | £19,500 | £18,900 |
| Minimum PA | £4,895 | £4,745 |
| Ages are as at the end of the tax year | ||
| Tax Shelters | ||
| Enterprise Investment Scheme up to | £200,000 | £200,000 |
| Venture Capital Trust up to | £200,000 | £200,000 |
| Rent a Room exempt on gross annual rent | £4,250 | £4,250 |
| Contruction Industry Scheme deduction rate | 18% | 18% |