Young & Co.

Chartered Accountants and Registered Auditors

More than just an accounting firm

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2010-2011 2011-2012

Young & Co. Chartered Accountants and Registered Auditors

• Bewell House, Bewell Street, Hereford, HR4 0BA • 3 Worcester Road, Great Malvern, WR14 4QY


Copyright © 2012 Young & Co.

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Personal Allowance - Available to everybody

£7,475

Income limit for Personal Allowance

From the 2010/11 tax year the Personal Allowance reduces where the income is above £100,000 - by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of age.

£100,000

Age Allowance - 65 to 75 year olds

£9,940

Age Allowance - 75 and over

£10,090

Married couples allowance - either spouse 65 to 75 years old at 5 April 2000

£2,800

Married couples allowance - either spouse over 75 years old at 5 April 2000

£7,295

Blind person

£1,980

Rates of Tax


Taxable income (total income less any relevant allowances) between £0 - £35,000

20%

Taxable income between £35,001 - £150,000

40%

Additional rate over £150,000

50%