Barrys Accountants Limited Tax Facts » Income Tax Allowance » Income Tax Rate
 

Income Tax Rate

Taxable income 2011/12Rate (%)
£0-£35,00020
£35,001 - £150,00040
Over £150,00050

Taxable income 2010/11Rate (%)
£0-£37,40020
£37,401 - £150,00040
Over £150,00050

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 2010/11). If taxable non-savings income exceeds this limit, the 10% rate does not apply. Income from dividends is taxed at 10% within the starting and basic rate 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)

 
Manager Login Cyber Splat Web Design