We keep you updated

We provide our clients with regular updates on changes in taxation regulation, news from the world of accounting and, of course, information about the latest developments at AJP Accounting.

2011/12 Tax Data

Income Tax

                                                                   2011-12          2010-11

Basic Rate Band - Income up to                    £35,000           £37,400 

Starting rate for savings                                  10%                10% 

Basic Rate                                                      20%                20%

Dividend upper rate                                        10%                10% 

Higher rate - income over                             £35,000           £37,400

Higher rate                                                     40%                40%

Dividend upper rate                                         32.5%             32.5%

Additional rate - income over                       £150,000          £150,000

Additional rate                                                50%                50%

Dividend additional rate                                   42.5%             42.5%

 

Personal Allowances (PA) 

                                   

                                         Under 65               £7,475             £6,475

                                         65 to 74                £9,940             £9,490

                                         75 and over           £10,090           £9,640     

 

Married Couple's allowance (MCA)

 

Either partner born before 6 April 1935              £7,295            £6,965

(Relief restricted to 10 %)

 

Construction Industry Scheme

                                        

                                              deduction rate     20/30%          20/30%

 

 

Value Added Tax                       From            4 Jan 11'        1 Jan 10'

 

 

                                            Standard Rate        20%               17.5%

                                            VAT Fraction           1/6                 7/47

                                            Reduced Rate          5%                 5%