Income Tax 2014

Starting rate band of 10% on savings income up to*£2,880£2,790
Basic rate of 20% on income up to£31,865£32,010
Maximum tax at basic rate£6,373£6,402
Higher rate of 40% on income£31,866-
Tax on first £150,000£53,627£53,598
Additional rate on income over £150,00045%45%
Dividends for:basic rate taxpayers10%10%
higher rate taxpayers32.5%32.5%
additional rate taxpayers37.5%37.5%
Trusts:standard rate band generally£1,000£1,000
dividends (rate applicable to trusts)37.5%37.5%
other income (rate applicable to trusts)45%45%
* Not available if taxable non-savings income exceeds the starting rate band.
Child benefit charge
1% of benefit for every £100 of annual income between £50,000 and £60,000.
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