budget report 2011

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Registered Pensions

  2011/12 2010/11
Lifetime allowance* £1,800,000 £1,800,000
Annual allowance £50,000** £255,000
Maximum relievable personal contribution 100% of relevant UK earnings or
£3,600 if greater
Maximum pension commencement lump sum* 25% of pension benefit value
Lifetime allowance charge 55% if excess is drawn as cash
25% if excess is drawn as income
Annual allowance charge on excess
 20%-50%
 40%
   

* Subject to transitional protection for excess amount.

** Eligible members of registered pension schemes may carry forward unused annual allowance of up to £50,000 a year for 3 tax years from 2008/09.

Budget Summary

  1. Capital taxes
  2. Charities
  3. Miscellaneous
  4. National insurance contributions
  5. Personal and trust taxation
  6. Value added tax (VAT)

Tax Tables

  1. Basic State Pension
  2. Capital Gains Tax
  3. Car Benefit For Employees
  4. Company Cars
  5. Corporation Tax
  6. Fuel Benefit
  7. Income Tax
  8. Individual Savings Accounts (ISAs)
  9. Inheritance Tax
  10. Main Capital and Other Allowances
  11. Main Due Dates for Tax Payment
  12. Main Personal Allowances and Reliefs
  13. National Insurance Contributions
  14. Registered Pensions
  15. Stamp Duties
  16. Tax-Free Mileage Allowance
  17. Value Added Tax