Budget 2008

Income Tax Rates - Budget 2008 - GT

Income Tax Rates

Rate 2008/2009 2007/2008
% £ £
10 1-2,32012 1-2,2303
20 1-36,00045
22 2,231-34,6004
40 over 36,000 over 34,600
  • Savings income (excluding dividends) is taxed at 10% within the savings rate band (starting rate band 2007/2008)
  • Rate applicable to discretionary and accumulation and maintenance trusts is 40%for income above £1,000; below this figure tax rate is 10%or 20%(or 22%2007/2008) depending on the nature of income.

See also Taxation of Dividends

1 Savings rate band.
2 Only available to extent taxable non-savings income is less than savings rate band.
3 Starting rate band.
4 Basic rate band.
5 Basic rate band reduced by amount of savings rate band used.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37

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