Income Tax
| Rates |
2008/09 |
2007/08 |
| Starting rate
of 10% on first |
£2,320* |
£2,230 |
| Income to which
starting rate applies |
Savings |
All |
| Basic rate on
earned, pensions and property income |
20% |
22% |
| Basic rate on
savings income |
20% |
20% |
| |
|
|
| Higher rate of
40% on income over |
£36,000 |
£34,600 |
| |
|
|
|
| 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 |
|
|
