TAX TABLES 2007

Main Income Tax Reliefs

08-09 07-08 Personal Allowance (basic) £5,225 £5,035 Personal Allowance (65-74) £7,550 £7,280 Personal Allowance (75 & over) £7,690 £7,420 Married/civil partners (minimum) at 10%* £2,440 £2,350 Married/civil partners (under 75) at 10%* £6,285 £6,065 Married/civil partners (75+) at 10% £6,365 £6,135 Age-related reliefs reduced by 50% of income over £20,900 £20,100 Blind person's allowance £1,730 £1,660 Rent-a-room tax-free income £4,250    £4,250 Venture capital trust (VCT) up to £200,000 Minimum holding period for income tax relief 30% 5 years 30% 5 years Enterprise investment scheme (EIS) up to £400,000 Minimum holding period for income tax relief 20% 3 years 20% 3 years EIS eligible for capital gains tax re-investment relief No limit *Where at least 1 claimant was born before 6 April 1935

© Copyright 12 March 2008, subject to Finance Act 2008. For information only. Always seek professional advice before acting.

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