Company Formation

If you're looking for a UK Company Formation service we recommend using Simple Formations. Straight forward advice and no hidden fees.

2008 - 2009 tax Rates
 

Please see the following tax tables for the current tax rates and allowances.

Income Tax Rates

Tax Year

Tax Year

 

2008/09

2007/08

Starting rate band to

£2,320

£2,230

  Tax rate

10%*

10%

Basic rate band - next

£2,321 - £36,000

£32,370

  Non-savings rate

20%**

22%

  Savings rate

-

20%

  Dividend ordinary rate

-

10%

Higher rate - income over

£36,000

£34,600

  Tax rate excluding dividends

40%

40%

  Dividend upper rate

32.5%

32.5%

 * Only applicable to dividends and savings income.

** Except dividends (10%) and, in 2007/08, savings income (20%)

     

Personal Allowances

   
Allowances that reduce taxable income

£

£

Personal allowance        under 65

5,435

5,225

                                     65-74*

9,030

7,550

                                     75 and over*

9,180

7,690

Allowances that reduce tax    
Married couple's allowance (MCA)    
    Age of elder partner  73-74*

653.50

628.50

                                     75 and over*

662.50

636.50

                                     minimum

254.00

244.00

* higher allowances for those aged 65 or more are scaled back when income exceeds £21,800 (2007/08, £20,900).  MCA is only available where at least one partner was born before 6 April 1935.

Capital Gains Tax Allowances

   
Individuals

£

£

  Annual exemption

9,600

9,200

Trusts

 

 

  Annual exemption

4,800

4,600

Corporation tax rates for limited companies in the UK. UK company tax rates.

Corporation Tax 

 

Year to 31.03.09

Year to 31.03.08

 

Profits Band £

Rate %

Rate %

Small companies rate

0 - 300,000

21

20

Marginal (small companies rate)

300,001 - 500,000

29.75

32.50

Full rate

 >1,500,000

28

30

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