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Income Tax Allowances
N.I. Contributions
Small Company Timetable
In The Press
2006-07 (£) 2007-08 (£)
Personal allowance 5,035 5,225
Personal allowance for people aged 65-74 7,280 7,550
Personal allowance for people aged 75 and over 7,420 7,690
Income limit for age-related allowances 20,100 20,100
Married couple's allowance * (aged less than 75 are born before 6th April 1935) 6,065 6,285
Married couple's allowance - aged 75 and over 6,135 6,365
Minimum amount of married couple's allowance 2,350 2,440
Blind person's allowance 1,660 1,730

Tax relief for the married couple's allowance is given at the rate of 10 per cent.

Taxable Bands Allowances 2006-07 (£) 2007-08 (£)
Starting rate 10% 0 - 2,150 0 - 2,230
Basic rate 22% 2,151 - 33,300 2,231 - 34,600
Higher rate 40% over 33,300 over 34,600
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