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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.