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Budget 2006
Income Tax Rates
Taxable income |
Rate |
Cumulative tax |
2006/
2007 |
2005/
2006 |
|
2006/
2007 |
2005/
2006 |
£ |
£ |
% |
£ |
£ |
1-2,150* |
1-2,090* |
10 |
215.00 |
209.00 |
2,151-33,300† |
2,091-32,400† |
22 |
7068.00 |
6,877.20 |
over 33,300 |
over 32,400 |
40 |
- |
- |
|
Savings income (excluding dividends) is taxed at 10% within the starting rate band and at 20% within the basic rate band Rate applicable to discretionary and accumulation and maintenance trusts is 40% above standard rate band of £1,000 (£500 2005/2006); within this band tax rate is 10%, 20% or 22% depending on nature of income
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