Neil Westwood & Co.

 

Chartered Accountants

 

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Tax Rates 2007/08
Introduction
Income Tax
Capital Gains Tax
Corporation tax
Main Capital Allowances
Value Added Tax
Inheritance Tax
Vehicle Benefits
Mileage Allowances
NI Contributions
Key Dates and Deadlines
Pension Premiums
Charitable Giving
Savings and Investment
Some Useful Rates
Stamp Taxes

Some Useful Rates


 Weekly Benefit
 2007/082006/07
Basic Retirement Pension  
Single person£87.30£84.25
Married couple£139.60£134.75
Child Benefit  
First eligible child£18.10£17.45
Each subsequent child£12.10£11.70
Statutory Sick Pay (SSP)  
Average weekly earnings £87 or over (2006/07 £84)£72.55£70.05
Statutory Maternity Pay (SMP)  
90% of average weekly payFirst 6 weeksFirst 6 weeks
Maximum £112.75 (2006/07 £108.85). Minimum 90% average weekly payNext 20 weeksNext 20 weeks
Mimimum rate£78.30£75.60
Adoption Pay (SAP)26 weeks26 weeks
Paternity Pay (SPP)1 week or fortnight1 week or fortnight
Both SAP and SPP  
90% of average weekly payMax £112.75
Min £78.30
Max £108.85
Min £75.60
Example rates:
Jobseekers Allowance  
Single person£59.15£57.45
Married couple£92.80£90.10
National Minimum WageFrom 1 October 2007From 1 October 2006
 Over 21£5.52 p.h.£5.35 p.h.
18 - 21£4.60 p.h.£4.45 p.h.
16 and 17£3.40 p.h.£3.30 p.h.



 

Neil Westwood & Co.

101 Dixons Green Road, Dudley

West Midlands, DY2 7DJ