Income Tax 2011

Rates 2011/12 2010/11
Starting rate band of 10% on savings income up to* £2,560 £2,440
Basic rate of 20% on income up to £35,000 £37,400
Higher rate of 40% on income £35,001-£150,000 £37,401-£150,000
Additional rate of 50% on income over £150,000 £150,000
Dividends for: basic rate taxpayers 10% 10%
higher rate taxpayers 32.5% 32.5%
additional rate taxpayers 42.5% 42.5%
Trusts: standard rate band generally £1,000 £1,000
dividends (rate applicable to trusts) 42.5% 42.5%
other income (rate applicable to trusts) 50% 50%
Pre-owned assets tax minimum taxable as income £5,000 £5,000
* Not available if taxable non-savings income exceeds starting rate band
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ICAEW The Chartered Institute of Taxation ACCA IPG IR