Income Tax
| Rates |
2007/08 |
2006/07 |
| 10% on
first |
£2,230 |
£2,150 |
| 22% (20% for
savings income) on next |
£32,370 |
£31,150 |
| 40% on income
over |
£34,600 |
£33,300 |
| |
|
|
|
| Dividends for: |
basic rate taxpayers
higher rate taxpayers |
10%
32.5%
|
10%
32.5%
|
| |
|
|
|
| Trusts: |
standard rate band
generally
dividends (rate applicable to trusts)
other income (rate
applicable to trusts) |
£1,000
32.5%
40% |
£1,000
32.5%
40% |
| |
|
|
| Pre-owned assets
tax (£5,000 minimum taxable) |
As income |
|
|
