Income Tax
| Rates | 2010/11 | 2009/10 | |
|---|---|---|---|
| Starting rate band of 10% on savings income up to* | £2,440 | £2,440 | |
| Basic rate of 20% on income up to |
£37,400 | £37,400 | |
| Higher rate of 40% on income |
£37,401 - £150,000 | £37,401 and over |
|
| Additional rate of 50% on income over | £150,000 | N/A | |
| Dividends for: | basic rate taxpayers | 10% | 10% |
| higher rate taxpayers | 32.5% | 32.5% | |
| additional rate taxpayers | 42.5% | N/A | |
| Trusts: | standard rate band generally | £1,000 | £1,000 |
| dividends (rate applicable to trusts) | £42.5% | £32.5% | |
| other income (rate applicable to trusts) | 50% | 40% | |
| Pre-owned assets tax minimum taxable as income | £5,000 | £5,000 | |
| * Not available if taxable non-savings income exceeds starting rate band | |||