HM Treasury’s United Kingdom Budget 2007
Income Tax Rates
|Taxable income||Rate||Cumulative tax|
|over 34,600||over 32,400||40||–||–|
- Savings income (excluding dividends) is taxed at 10% within the starting rate band and at 20% within the basic rate band
- Rate applicable to discretionary and accumulation and maintenance trusts is 40% above standard rate band of £1,000; within this band tax rate is 10%, 20% or 22% depending on nature of income.
1 Starting rate band
2 Basic rate band
The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.
This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.