Budget 2005 Introduction Main Income Tax reliefs Income Tax Rates and bands Car Benefit Assessment Tax Free Mileage Allowances National Insurance Contributions Personal Pensions and Retirement Annuity Premiums Inheritance Tax Value Added Tax Capital Gains Tax Corporation Tax Main capital allowances Stamp Duty & Stamp Duty Land Tax Earliest due dates for payment of tax

Income Tax Rates and bands   2005/06 2004/05   Lower rate on first £2,090 £2,020 Basic rate on next 30,310 29,380 Higher rate on taxable income over 32,400 31,400   Tax rates 2005/06 (unchanged from 2004/05)     Rates differ for Dividends/Interest/Other D I O Starting rate 10% 10% 10% Basic rate 10% 20% 22% Higher rate 32.5% 40% 40% Dividends taxed at highest part of income, then interest, then other Discretionary trust 32.5% 40% 40%