Additional higher rate of Income Tax

A new additional higher rate of Income Tax of 50 per cent will be introduced for those with incomes above £150,000 from 6th April 2012.

Income Tax - taxable bands

2011/2012	£ per year	2010/2011	£ per year
Starting savings rate: 10%*	£0-£2,560	Starting savings rate: 10%*	£0-£2,440
Basic rate: 20%*	£0-£35,000	Basic rate: 20%*	£0-£37,400
Higher rate: 40%*	Over £35,000	Higher rate: 40%*	Over £37,400

*There is a 10p starting rate for savings only. If an individual's non savings taxable income exceeds the starting rate limit, the 10p starting rate for savings will not be available for savings income.

National Insurance contributions

£ per week (unless stated)	2011/2012	2010/2011
Lower earnings limit (primary Class 1)	£102	£97
Upper earnings limit (primary Class 1)	£817	£844
Upper accruals point	n/a	£770
Employees’ primary Class 1 rate between primary threshold and upper earnings limit	12%	11%
Employees’ primary Class 1 rate above upper earnings limit	2%	1%
Employers’ secondary Class 1 rate above secondary threshold	13.8%	12.8%
Employers’ contracted-out rebate, salary-related schemes	3.7%	3.7%
Employers’ contracted-out rebate, money-purchase schemes	1.4%	1.4%
Class 2 rate	£2.50	£2.40
Class 2 small earnings exception (per year)	£5,315	£5,075
Class 3 rate - voluntary (per week)	£12.60	£12.05
Class 4 lower profits limit (per year)	£7,225	£5,715
Class 4 upper profits limit (per year)	£42,475	£43,875
Class 4 rate between lower profits limit and upper profits limit	9%	8%
Class 4 rate above upper profits limit	2%	1%