Tax rates and thresholds for 2012/13 have been announced as follows:

Income Tax Personal Allowances

Under 65: £8,105

65-75: £10,500

75 and over: £10,660

Minimum marriage allowance: £2,960

Maximum marriage allowance: £7,705

Blind person's allowance: £2,100

Income limit for those aged 65 or more: £25,400

Income limit for under 65 personal allowance: £100,000

Income Tax Rates

Savings rate* (10%): £0 - 2,710

Basic rate (20%): £0 - 34,370

Higher rate (40%): £34,371 to 150,000

Additional rate (50%): Over £150,000

* Rate does not apply where other income exceeds the savings rate threshold.

Different tax rates apply for dividend income as follows:

Basic rate (10%): £0 - 34,370

Higher rate (32.5%): £34,371 to 150,000

Additional rate (42.5%): Over £150,000

NI

The rates and weekly thresholds for NI contributions will be:

Employer's class 1 above primary threshold (above £144): 13.8%

Employee's class 1 not contracted out (from £146 to £817): 12%

Employee's additional class 1 (above £817): 2%

Self-employed class 4 (annual figures from £7,605 to £42,475): 9%

Self-employed class 4 additional rate (above £42,475 per year): 2%

Self-employed class 2: £2.65 per week

Voluntary contributions class 3: £13.25 per week

Capital Gains Tax

Tax rates for individuals

Up to basic rate band: 18%

Above basic rate band: 28%

Annual exemption: £10,600

Corporation Tax

From 1 April 2012:

Profit of £0 - £300,000: 20%

Profit of £300,000- £1,500,000: 26.25%

Profit of £1,500,000 and over: 25%

These rates apply where there are no associated companies.