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Guide to Income tax rates and allowances 2010/11
Tax rates and bands
| Tax rate | Tax bands in 2010-11 |
| Starting rate for savings: 10% | £0-£2,440 |
| Basic rate: 20% | £0-£37,400 |
| Higher rate: 40% | Over £37,401-£150,000 |
| Additional higher rate: 50% | Over £150,000 |
The basic rate limit will be reduced in 2011-12 so that higher rate taxpayers do not benefit from the increased personal allowance that is being introduced in April 2011.
A tax allowance is the amount of tax-free income an employee can earn in a year. Some employees will be entitled to more than one allowance.
From the tax year 2010-11, if your income is over £100,000, your Personal Allowance is reduced by half of the amount – £1 for every £2 – you have over that limit. If your income is large enough, your Personal Allowance will be reduced to nil. This £100,000 limit applies irrespective of your age.
Income tax allowances
| Type of allowance | Earnings for 2009-10 and 2010-11 |
| Personal allowance | £6,475 (note: the personal allowance will be increased to £7,475 in 2011-12) |
| Income limit for personal allowance | £100,000 (not applicable before 6 April 2010) |
| Personal allowance (aged 65-74) | £9,490 |
| Personal allowance (aged 75 and over) | £9,640 |
| Income limited for age-related allowances | £22,900 |
| Married couple’s allowance for people born before 6 April 1935 | £6,865 |
| Married couple’s allowance – aged 75 or over | £6,965 |
| Minimum amount of married couple’s allowance | £2,670 |
| Blind person’s allowance | £1,890 |
From the 2010-11 tax year the personal allowance reduces for those earning above £100,000. It is reduced by £1 for each £2 over £100,000 until the allowance reaches nil. This reduction applies irrespective of age. From 2010-11 personal allowance for people aged 65 to 74 and 75 and over can be reduced below the basic personal allowance where the income is above £100,000.
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