Budget 2005

brought to you courtesy of Grant Thornton

HM Treasury’s United Kingdom Budget 2005

Income Tax Rates Taxable income Rate Cumulative tax 2005/ 2006 2004/ 2005   2004/ 2005 2003/ 2004 £ £ % £ £ 1-2,090 1-2,020 10 209.00 202.00 2,091-32,400 2,021-31,400 22 6,877.20 6,665.60 over 32,400 over 31,400 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 40% above standard rate band of £500 (40% on all income 2004/2005) 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... »