Budget 2012 – Annual Tax Rates and Allowances

Income Tax Rates

Rate (%) 2012/2013 (£) 2011/2012 (£)
101 1-2,7102 1-2,5602
203 1-34,370 1-35,000
404 34,370-150,000 35,001-150,000
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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