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Links
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Income
Tax Refunds Rates and Allowances
Below we have constructed
a table which helps to show the different tax bands for the past
5 years. This can help you calculate if you are due a tax refund
from the Inland Revenue:
| Tax
Bands |
2003-2004 |
2004-2005 |
2005-2006 |
2006-2007 |
2007-2008 |
| Lower
Rate |
£1,960 |
£2,020 |
£2,090 |
£2,150 |
£2,230 |
| Total
Tax Paid in Band |
£196.00 |
£202.00 |
£209.00 |
£215.00 |
£223.00 |
| Rate |
10% |
10% |
10% |
10% |
10% |
| Basic
Rate Band |
£1,961-
£30,500 |
£2,021-
£31,400 |
£2,091-
£32,400 |
£2,151-
£33,300 |
£2,231-
£34,600 |
| Total
Tax Paid in Band |
£6,278.58 |
£6,463.60 |
£6,668.20 |
£6,852.78 |
£7,121.18 |
| Rate |
22% |
22% |
22% |
22% |
22% |
| Higher
Rate Tax Band |
£30,500+ |
£31,400+ |
£32,400+ |
£33,300+ |
£34,600+ |
| Tax in
Band |
unlimited |
unlimited |
unlimited |
unlimited |
unlimited |
| Rate |
40% |
40% |
40% |
40% |
40% |
The table below shows
the Tax Free allowances that each person working within the United
Kingdom is entitleed to earn each year before they pay any tax.
If you have earned under this amount for any of the given years
listed it is highly probable that you are due a tax
refunds
| Allowances
& Reliefs |
2003-2004 |
2004-2005 |
2005-2006 |
2006-2007 |
2007-2008 |
| Personal
allowance |
£4,615 |
£4,745 |
£4,895 |
£5,035 |
£5,225 |
| Personal
allowance 65-74 |
£6,610 |
£6,830 |
£7,090 |
£7,280 |
£7,550 |
| Personal
allowance 75+ |
£6,720 |
£6,950 |
£7,220 |
£7,420 |
£7,690 |
| Married
couple's allowance |
£2,150 |
£2,210 |
£2,280 |
£2,350 |
£2,440 |
| ...if
older partner aged 65-74 |
£5,565 |
£5,725 |
£5,905 |
£6,065 |
£6,285 |
| ...if
older partner aged 75+ |
£5,635 |
£5,795 |
£5,975 |
£6,135 |
£6,365 |
| Blind
person's allowance |
£1,510 |
£1,560 |
£1,610 |
£1,660 |
£1,730 |
Age allowance
withdrawn
by £1 for every £2 of income over |
£18,300 |
£18,900 |
£19,500 |
£20,100 |
£20,900 |
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