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Article Index
Budget 2008
Income Tax Rates
Personal Allowances
Taxation of Dividends
Enterprise Investment Scheme (EIS)
Venture Capital Trusts (VCT)
Individual Savings Accounts (ISA)
Child Trust Fund
Registered Pension Schemes
Other Personal Income Tax Reliefs
Gifts to Charities
Capital Gains Tax
Non-UK Domiciles
Pre-owned Assets Charge
Inheritance Tax
Benefits in Kind
Key Reliefs for All Employees
Advisory Fuel Rates for Company Cars
Tax free Approved Mileage Rates
Approved Employee Share Schemes
National Insurance Contributions (NIC)
Corporation Tax
Capital Allowances and Reliefs
Corporate Capital Gains
Corporate Venturing Scheme (CVS)
Construction Industry Scheme
Agricultural Related Income Tax Matters
Value Added Tax
Landfill Tax
Insurance Premium Tax
Aggregates Levy
Climate Change Levy
Correction of Errors – Voluntary Disclosure
Stamp Duty
Stamp Duty Land Tax
Stamp Key Dates for Payment of Tax
Key Filing Dates
Income Tax Rates - Budget 2008 - GT

Budget 2008

Income Tax Rates

Rate 2008/2009 2007/2008
% £ £
10 1-2,32012 1-2,2303
20 1-36,00045 -
22 - 2,231-34,6004
40 over 36,000 over 34,600
  • Savings income (excluding dividends) is taxed at 10% within the savings rate band (starting rate band 2007/2008)
  • Rate applicable to discretionary and accumulation and maintenance trusts is 40%for income above £1,000; below this figure tax rate is 10%or 20%(or 22%2007/2008) depending on the nature of income.

See also Taxation of Dividends

1 Savings rate band.
2 Only available to extent taxable non-savings income is less than savings rate band.
3 Starting rate band.
4 Basic rate band.
5 Basic rate band reduced by amount of savings rate band used.