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

Main Income Tax reliefs Allowed at top rate of tax 2005/06 2004/05 Personal Allowance £4,895 £4,745 Personal Allowance (65-74)* 7,090 6,830 Personal Allowance (75+)* 7,220 6,950 Blind Person's Allowance 1,610 1,560   Allowed only at 10%     Married Couple's Allowance (65-74)* 5,905 5,725 Married Couple's Allowance (75+)* 5,975 5,795 Income Limit for age-related allowances 19,500 18,900   * Age allowances are reduced £1 for every £2 by which income exceeds the income limit, until the age allowance is reduced to the normal allowance. Personal allowance is reduced before married couple's allowance. MCA is reduced to a minimum of £2,280 (2004/05: £2,210).   Important limits 2005/06 and 2004/05 Individual Savings Account annual limit £7,000 Rent a room exemption 4,250 Enterprise Investment Scheme annual limit * 200,000 Venture Capital Trust annual limit ** 200,000   * Relief restricted to 20% ** Relief at 40%