Chartered Accountants, Canalside Buildings
Roundhouse Business Park, Leeds, LS12 1AH
Telephone: 0113 244 9811
Email: enquiries@dbaca.co.uk

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Tax Card

Income Tax

*Income Tax Rates*	2009-2010 %	2008-2009 %	2007-2008 %	2006-2007 %
Starting tax rate	-	-	10	10
Basic tax rate	20	20	22	22
Higher tax rate	40	40	40	40
Starting rate on savings income	10	10	-	-
Starting rate band on savings income	£0 - £2,440	£0 - £2,320	-	-
Tax on savings income	20	20	20	20
Tax on dividends at Basic Rate	10	10	10	10
Tax on dividends at Higher Rate	32.50	32.50	32.50	32.50
Starting rate band	-	-	to £2,230	to £2,150
Basic rate band	£0 - £37,400	£0 - £34,800	£2,231 - £34,600	£2,151 - £33,300
Higher rate band	above £37,400	above £34,800	above £34,600	above £33,300

Personal Allowances

*Personal allowances*	2009-2010	2008-2009	2007-2008	2006-2007
Standard payroll tax code	647L	603L	522L	503L
Personal allowance	£6,475	£6,035	£5,225	£5,035
- age 65 to 74	£9,490	£9,030	£7,550	£7,280
- age 75 and over	£9,640	£9,180	£7,690	£7,420
Married couples allowance (Note 1)
- age 65 to 74	Note 2	£6,535	£6,285	£6,065
- age 75 and over	£6,965	£6,625	£6,365	£6,135
The income limit for age-related allowances	£22,900	£21,800	£20,900	£20,100
Minimum amount of Married Couples Allowance	£2,670	£2,540	£2,440	£-
Blind person's allowance	£1,890	£1,800	£1,730	£1,660
Note 1: Tax relief for the Married Couple's Allowance is given at 10%. These allowances reduce by £1 for every £2 of taxable income where the income is above the limits given above. The reduction in the allowance will not reduce below the Personal Allowance or the minimum amount of the Married Couples Allowance.
Note 2: At some point during 2009/2010 all claimants in this category will reach the age of 75 and will therefore be entitled to claim the higher rate of relief of 75 and over for Married Couples Allowance.

Key Dates

*Key dates in 2009 for personal Self Assessment tax payers*
31 July 2009	The date by which the second payment on account in respect of 2008/2009 must be paid.
31 October 2009	Deadline for submission of a HMRC paper tax return (previous it was possible to file paper returns up to 31 January in the following year).
5 October 2009	Deadline for notifying HMRC of new sources of income unless a 2008/2009 tax return has already been issued.
30 December 2009	Deadline for e-filing the tax return where the tax payer requires the 2008/2009 balancing payment to be collected through next year's tax code (less than £2,000).
31 January 2010	Deadline for submitting online your 2008/2009 self assessment tax return. It is also the date by which the tax payer will be required to settle the 2008/2009 balancing payment and make the first payment on account in respect of 2009/2010.

Capital Gains Tax

Capital Gains Tax

2009-2010

2008-2009

2007-2008

2006-2007

Annual exempt amount:

- Individuals etc

not available

£9,600

£9,200

£8,800

- Trustee

not available

£4,800

£4,600

£4,400

From 1 April 2008

Capital Gains Tax will be charged at a Standard Rate of 18%.

Entrepreneur's Relief gives an effective rate of 10% on gains up to £1 million. It is available in respect of gains made on: the disposal of a business; gains made on the disposal of all or part of a business; gains made on the disposal of assets following the cessation of a business; or gains made by certain individuals involved in the running of a business.

Prior to 1 April 2008

The amount chargeable to CGT is added onto the top of income liable to income tax for individuals and is charged to CGT at the following rates:
- below the starting rate limit at 10%
- between the starting rate and standard rate limits at 20%, and
- above the basic rate limit at 40%.
For individuals, gains on disposals after 5 April 1998 benefit from indexation relief up to that date. Gains are reduced by taper relief reflecting the number of complete years after 5 April 1998. Non-business assets acquired before 17 March 1998 qualify for a bonus year of taper relief.

The holding period required to receive maximum taper relief for business assets is two years, and for non-business assets is ten years.

Years held after 5/4/98

Relief available to 31 March 2008 Based on the percentage of gain chargeable to CGT

Business asset

Non-Business asset

0

100%

100%

1

50%

100%

2

25%

100%

3

25%

95%

4

25%

90%

5

25%

85%

6

25%

80%

7

25%

75%

8

25%

70%

9

25%

65%

10

25%

60%

Inheritance Tax

*Inheritance Tax*	2009-10 £	2008-2009 £	2007-2008 £	2006-2007 £
No tax charge arises up to:	£325,000	£312,000	£300,000	£285,000
Balance taxed at 40% above:	£325,000	£312,000	£300,000	£285,000
Tapering relief is given in respect of gifts made between three and seven years before death. Where tax is payable on lifetime gifts (other than those taxable only because they are made within seven years of death), tax is charged at 20%.

Stamp Duty

Stamp duty: Transfers of land and buildings (consideration paid) from 23 March 2006	Residential land in the UK		Non-residential
	Disadvantaged Areas	All Other Areas	All Land
Zero	£0 to £150,000	£0 to £125,000	£0 to £150,000
1%	over £150,000 to £250,000	over £125,000 to £250,000	over £150,000 to £250,000
3%	over £250,000 to £500,000	over £250,000 to £500,000	over £250,000 to £500,000
4%	Over £500,000	Over £500,000	Over £500,000
Disadvantaged Area Relief for non-residential land transactions ended on 17 March 2005.

*New leases (lease duty based on Net Present Value of rents for the term of the lease)*	NPV of total rent Residential	NPR of total rent Non-residential
Zero	£0 to £125,000	£0 to £150,000
1%	Over £125,000	Over £150,000
When calculating the duty payable on the Net Present Value of the lease, you must reduce the NPV calculation by either the £125/150K band before applying the 1% rate.

National Insurance Contributions

National Insurance Class 1	2009-2010 £	2008-2009 £	2007-2008 £
Class 1 Men over 65, Women over 60, and children under 16 do not pay Class 1 contributions.
Employee's Earnings Limits	Weekly - Monthly - Yearly	Weekly - Monthly - Yearly	Weekly - Monthly - Yearly
- Lower earnings limit (LEL) The minimum level of earnings employees need to qualify for benefit.	£95 - £412 - £4,940	£90 - £390 - £4,680	£87 - £377 - £4,524
- Earnings threshold (ET) The level of earnings above which employees Class 1 contributions become payable.	£110 - £477 - £5,720	£105 - £455 - £5,460	£100 - £433 - £5,200
- Upper earnings limit (UEL) Employees do not pay Class 1 contributions above this level.	£844 - £3,657 - £43,888	£770 - £3,337 - £40,040	£670 - £2,903 - £34,840

Employee's Class 1 NI rates
- Contracted in	11% to UEL then 1%	11% to UEL then 1%	11% to UEL then 1%
- Contracted out	9.4% to UEL then 1%	9.4% to UEL then 1%	9.4% to UEL then 1%
- Married woman's reduced rate	4.85% to UEL then 1%	4.85% to UEL then 1%	4.85% to UEL then 1%

Employer's Earnings Limits	Weekly - Monthly - Yearly	Weekly - Monthly - Yearly	Weekly - Monthly - Yearly
- Earnings threshold (ET) Employers pay Class 1 contributions on all earnings above this level.	£105 - £455 - £5,460	£105 - £455 - £5,460	£100 - £433 - £5,200
Employer's Class 1 NI rates	12.8% above ET	12.8% above ET	12.8% above ET

*National Insurance Class 2*	2009-2010 £	2008-2009 £	2007-2008 £	2006-2007 £	2005-2006 £
Self-employed National Insurance
- on annual earnings over	£5,075	£4,825	£4,635	£4,465	£4,345
- weekly contribution	£2.40	£2.30	£2.20	£2.10	£2.10
- annual contribution	£124.80	£119.60	£114.40	£109.20	£109.20

*National Insurance Class 3*	2009-2010 £	2008-2009 £	2007-2008 £	2006-2007 £	2005-2006 £
Voluntary contributions:
- weekly contribution	£12.05	£8.10	£7.80	£7.55	£7.35
- annual contribution	£626.60	£421.20	£405.60	£392.60	£382.20

*National Insurance Class 4*	2009-2010 £	2008-2009 £	2007-2008 £	2006-2007 £
Self-employed National Insurance on taxable profits between:
- Lower limit	£5,715	£5,435	£5,225	£5,035
- Upper limit	£43,875	£40,040	£34,840	£33,540
- Rate applied	8% of £5,715 to £43,875, then 1%	8% of £5,435 to £40,040, then 1%	8% of £5,225 to £34,840, then 1%	8% of £5,035 to £33,540, then 1%
- Maximum payable	£3,052.80 + 1%	£2,768.40 + 1%	£2,369.20 + 1%	£2,280.40 + 1%

The Authorised Mileage Rates

*Mileage Rates to be used for company owned vehicles from 1 January 2009*	Petrol	Diesel	LPG
- Up to 1400cc	10p	11p	7p
- 1401cc to 2000cc	12p	11p	9p
- over 2000cc	17p	14p	12p

*Mileage Rates to be used for company owned vehicles from 1 July 2008 to 31 December 2008*	Petrol	Diesel	LPG
- Up to 1400cc	12p	13p	7p
- 1401cc to 2000cc	15p	13p	9p
- over 2000cc	21p	17p	13p

*Mileage Rates to be used for company owned vehicles from 1 January 2008 to 30 June 2008*	Petrol	Diesel	LPG
- Up to 1400cc	11p	11p	7p
- 1401cc to 2000cc	13p	11p	8p
- over 2000cc	19p	14p	11p
HM Revenue & Customs will accept that no VAT, income tax or NIC tax will arise on payments made to employees that pay for their own fuel and are reimbursed for business journeys at the above mileage rates. The same rates can be used by employees to reimburse their employer for private journeys, where all fuel is paid for by the employer. Detailed daily mileage logs of the business journeys undertaken for each employee are essential to support any claims made.

Compulsory registration for VAT

*VAT thresholds and limits*	Registration threshold	Deregistration limit
from 1 May 2009	£68,000	£66,000
01.04.08 to 30.04.09	£67,000	£65,000
01.04.07 to 31.03.08	£64,000	£62,000
01.04.06 to 31.03.07	£61,000	£59,000
01.04.05 to 31.03.06	£60,000	£58,000
01.04.04 to 31.03.05	£58,000	£56,000
10.04.03 to 31.03.04	£56,000	£54,000
25.04.02 to 09.04.03	£55,000	£53,000
01.04.01 to 24.04.02	£54,000	£52,000
01.04.00 to 31.03.01	£52,000	£50,000
01.04.99 to 31.03.00	£51,000	£49,000
01.04.98 to 31.03.99	£50,000	£48,000
01.12.97 to 31.03.98	£49,000	£47,000

VAT Road Fuel Scale Charges

*Road Fuel Scale charges for periods after 1 May 2009*	VAT fuel scale charge	VAT at 15% VAT changes 01.01.2010	VAT exclusive charge
CO2 Band	£(month/Qtr)	£(month/Qtr)	£(month/Qtr)
120 or less	£42 / £126	£6.26 / £18.77	£35.74 / £107.23
125	£63 / £189	£9.38 / £28.15	£53.62 / £160.85
130	£63 / £189	£9.38 / £28.15	£53.62 / £160.85
135	£63 / £189	£9.38 / £28.15	£53.62 / £160.85
140	£67 / £201	£9.98 / £29.94	£57.02 / £171.06
145	£71 / £214	£10.57 / £31.87	£60.43 / £182.13
150	£75 / £226	£11.17 / £33.66	£63.83 / £192.34
155	£79 / £239	£11.77 / £35.60	£67.23 / £203.40
160	£83 / £251	£12.36 / £37.38	£70.64 / £213.62
165	£88 / £264	£13.11 / £39.32	£74.89 / £224.68
170	£92 / £276	£13.70 / £41.11	£78.30 / £234.89
175	£96 / £289	£14.30 / £43.04	£81.70 / £245.96
180	£100 / £302	£14.89 / £44.98	£85.11 / £257.02
185	£104 / £214	£15.49 / £46.77	£88.51 / £267.23
190	£109 / £327	£16.23 / £48.70	£92.77 / £278.30
195	£113 / £339	£16.83 / £50.49	£96.17 / £288.51
200	£117 / £352	£17.43 / £52.43	£99.57 / £299.57
205	£121 / £365	£18.02 / £54.36	£102.98 / £310.64
210	£126 / £378	£18.77 / £56.30	£107.23 / £321.70
215	£130 / £390	£19.36 / £58.09	£110.64 / £331.91
220	£134 / £403	£19.96 / £60.02	£114.04 / £342.98
225	£138 / £416	£20.55 / £61.96	£117.45/ £354.04
230	£142 / £428	£21.15 / £63.74	£120.85 / £364.26
235 or above	£147 / £441	£21.89 / £65.68	£125.11 / £375.32

Van Benefits

*Van Benefits*	2009-2010	2008-2009	2007-2008	2006-2007
				Under 4Yrs	Over 4Yrs
Van Benefit	£3,000	£3,000	£3,000	£500	£350
Fuel Benefit	£500	£500	£500	Included in above

Corporation Tax

*Corporation Tax*	YE 31.03.10 (2009)		YE 31.03.09 (2008)		YE 31.03.08 (2007)		YE 31.03.07 (2006)
*Corporation Tax*	Profits Band	%	Profits Band	%	Profits Band	%	Profits Band	%
Small companies rate	£0 - 300K	21%	£0 - 300K	21%	£0 - 300K	20%	£0 - 300K	19%
Marginal Rate for small companies	£300K - 1.5M	29.75%	£300K - 1.5M	29.75%	£300K - 1.5M	32.50%	£300K - 1.5M	32.75%
Full rate	Above £1.5M	28%	Above £1.5M	28%	Above £1.5M	30%	Above £1.5M	30%
Small companies fraction	7/400				1/40		11/400