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Budget 2006



Introduction

Personal Income Tax

Tax Credits

National Insurance Contributions

Employees

Savings

Trusts

Capital Gains Tax

Stamp Duty Land Tax

Inheritance Tax

Corporation Tax

Business Tax

Value Added Tax

Other Measures

Tax Tables

National Insurance

Capital Gains Tax


Annual exemption and tax rates

The annual exemption for individuals has been increased to £8,800 for 2006/07 (2005/06: £8,500). Trustees receive half this figure (£4,400 for 2006/07; £4,250 for 2005/06), although this is usually shared between trusts which have been set up by the same person.

No changes were announced to the exemption for a taxpayer's only or main residence or to the complications of CGT taper relief.


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