2003-04 & 2002-03

Personal allowances

  2003~04 2002~03 Increase
Personal allowance £4,615 £4,615 -
Blind person's allowance £1,510 £1,480 30
Age allowance income limit £18,300 £17,900 400
Age related allowances
Personal allowance 65 - 74 £6,610 £6,600 10
Personal allowance 75+ £6,720 £6,370 350
Married couple's allowance DOB prior 6/4/1935 £5,725 £5,465 260
Married couple's allowance 75+ £5,635 £5,535 100
Minimum married couples allowance £2,150    

Tax

  2003~04 2002~03 Increase
Lower rate from 10% £0 10% £0 - -
to £1,960 £1,920 40
Basic rate from 22% £1,961 22% £1,921 -  
to £30,500 £29,900 600
Savings 20%   20%   -  
Higher rate from 40% £30,501 40% £29,901 - 600

NI

  2003~04 2002~03 Increase
Class 1 - employee
Lower earnings limit (LEL) £77 per wk £75 per wk 2
Employees earnings threshold (ET) £89 per wk £89 per wk -
Rate up to LEL 0% 0% -
Rate between LEL and ET 0% 0% -
Rate between ET and UEL
(not contracted-out)		 11% 10% 1%
Rate in excess of UEL 1% 0% 1%
Rate between ET and UEL (contracted-out) 9.4% 8.4% 1%
Upper earnings limit (UEL) £595 per wk £585 per wk 10
Class 1 - employer
Earnings threshold (ET) £89 per wk £89 per wk -
Rate above ET
(not contracted-out)		 12.8% 11.8% 1%
Rate between ET and UEL
(contracted-out)		 9.3% 8.4% 0.9%
Rate in excess of UEL
(contracted-out)		 12.8% 11.8% 1%
Class 1A
Rate 12.8% 11.8% 1%
Other taxed benefits in kind 12.8% 11.8% 1%
Class 1B
Rate 12.8% 11.8% 1%
Class 2
Rate £2.00 per wk £2.00 per wk -
small earnings exception limit £4,095 pa £4,025 pa 70
Class 3: voluntary contribution
Flat rate £6.95 per wk £6.85 per wk 0.10
Class 4: self employed on profits
Rates LPL - UPL 8% 7% 1%
Rates in excess of LPL 1% 0% 1%

Lower profits limit (LPL)

 £4,615 pa £4,615 pa -
Upper profits limit (UPL) £30,940 pa £30,420 pa 500