| Income
Tax Rates |
| 2011/12 |
|
|
| Taxable
|
|
|
| Income
£ |
Rate
% |
| 0 - 35,000 |
20
|
| 35,001 - 150,000
|
40
|
| Over
150,000 |
50
|
| |
| 2010/11 |
|
| 0 - 37,400 |
20
|
|
37,401 - 150,000 |
40 |
|
Over 150,000 |
50 |
| |
|
| |
| Savings
income is generally treated as the highest part of total income.
A 10% starting rate, for savings income only, applies to the
extent that such income falls within the first £2,560
of taxable income (£2,440 for 2010/2011) If taxable
not-savings income exceeds this limit, the 10% rate does not
apply. Income from dividends is taxed at
10% within the starting and basic rate tax bands and at 32.5%
in the higher rate band and at 42.5% thereafter
(these rates are applied to the dividend grossed-up by a tax
credit of 1/9).
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