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 refraining from acting as a result of any material contained in this publication.
