Terence Houghton & Co. Ltd

2009-10 Tax Rates

• Income Tax Rates
• Income Tax Reliefs
• Tax Credits
• Pension Premiums
• Car, Van, Fuel Benefits
• Mileage Allowances
• Individual Savings (ISAs)
• Corporation Tax
• Capital Allowances
• Value Added Tax
• Capital Gains Tax
• Inheritance Tax
• Stamp Duty, Land Tax
• National Insurance
• Social Security Benefits
• Key Dates

Tax Credits

	2009/10 £	2008/09 £
Working Tax Credit (WTC) Basic element - max.	1,890	1,800
Childcare element 80% of eligible costs up to £175 per week (£300 if two or more children).
Child Tax Credit (CTC) Child element
per child - max.	2,235	2,085
Family element ent	545	545
Baby addition	545	545

Reductions in maximum rates
39% of income above £6,420* p.a.

*If only CTC is claimed, the threshold is £16,040 (£15,575) p.a. The family element of CTC is not reduced unless income is more than £50,000 p.a. when it is reduced by £1 for every £15 of additional income.