Tax centre
Tax tables 2007-08
Main Income Tax Reliefs and Credits
| 2007/08 | 2006/07 | |
|---|---|---|
| Personal (basic) | £5,225 | £5,035 |
| Personal (65-74) | £7,550 | £7,280 |
| Personal (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% 5 years |
20% 5 years |
| EIS eligible for Capital Gains Tax re-investment relief | No limit | |
© Copyright 21 March 2007, subject to Finance Act 2007. For information only. Always seek professional advice before acting.