Budget 2011 – Annual tax rates and allowances

Budget 2011 - Grant Thornton

Income Tax Rates

Rate (%) 2010/2011 (£) 2010/2011 (£)
10 1-2,56012 1-2,44012
20 1-35,0003 1-37,4003
40 35,001-150,0004 37,401-150,0004
505 over 150,000 over 150,000
  • Savings income (excluding dividends) is taxed at 10% within the savings rate band.
  • Rate applicable to discretionary and accumulation and maintenance
    trusts is 50% above standard rate band of £1,000; within this band tax rate
    is 10% or 20% depending on nature of income.
  • See Taxation of Dividends.

1 Savings rate band.
2 Only available to extent taxable non-savings income is less than savings rate band.
3 Basic rate band.
4 Higher rate band
5 Additional rate.

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