National Insurance: 2007/08 (2006/07)           Income Tax.                                     Corporation Tax.                              .Home Page

         Income Tax                          Corporation Tax                       ASC Wylie

                                                           <-----------------------------2007/08 ----------------------------->    <-----------------------------2006/07---------------------->

Rates  

Class

Primary Threshold

Upper Limits {UEL}

Tax Rate

Primary Threshold

Upper Limits {UEL}

Tax Rate

1 - Employment {Not Contracted Out}

£ 5,200 pa

{£100 pw}

£ 34,840 pa

£670 pw}

11%

{+1% over UEL}

£ 4,784 pa

{£97 pw}

£ 33,540 pa

£645 pw}

11%

{+1% over UEL}

2 - Self Employed - Flat Rate

£4,732 pa

-

£2.20 pw

£4,628 pa

-

£2.10 pw

3 - Voluntary

-

-

£7.80 pw

-

-

£6.55 pw

4 - Self Employed - Earnings Related

£5,225

£34,840

8%

{+1% over UL}

£5,035

£33,540

8%

{+1% over UL}

Notes:

Class 1

2007/08    -        Employers rate is 12.8% over £5,200pa { £100 pw}        - No upper limit

..............     -        Contracted Out Rates 9.4% {employee}                          - Employer rates depend on type of scheme.

2006/07    -        Employers rate is 12.8% over £5,035pa { £97 pw}          - No upper limit

...............    -        Contracted Out Rates 9.4% {employee}                          - Employer rates depend on type of scheme.