Income Tax Rates
Tax Tables
| Income Tax - taxable bands | 2011/12 | 2012/13 |
| Starting rate: 10% * | - | - |
| Basic rate: 20% | £0 - £35,000 | £0 - £34,370 |
| Higher rate: 40% | £35,001 - £150,000 | £34,371 - £150,000 |
| Additional Rate: 50% | £150,001 + | £150,001 + |
| *for 2011/12 only applicable on savings income where it is below £2,560, and for 2012/13 below £2,710. | ||
| Dividends | ||
| Basic rate taxpayers | 10% | 10% |
| Higher rate taxpayers | 32.5% | 32.5% |
| Additional rate taxpayers |
42.5%
|
42.5% |
| Pre-owned assets tax (£5,000 taxable threshold) | As income | As income |
| Discretionary and Relevant Property Trusts* | ||
| Standard rate band | 1,000 | 1,000 |
| Dividends (rate applicable to trusts - RAT) | 42.5% | 42.5% |
| Other income (rate applicable to trusts - RAT) | 50% | 50% |
| *from 6/4/2008 A&M trusts can only be created by a parent's will, all other trusts will fall under the RPT regime. | ||
| Interest In Possession Trusts | ||
| UK Dividends | 10% | 10% |
| Savings, rent and trading | 20% | 20% |