Tax Tables - Income Tax

Income Tax

Rates		2008/09	2007/08
Starting rate of 10% on first		£2,320*	£2,230
Income to which starting rate applies		Savings	All
Basic rate on earned, pensions and property income		20%	22%
Basic rate on savings income		20%	20%
Higher rate of 40% on income over		£34,800	£34,600

Dividends for:	basic rate taxpayers	10%	10%
	higher rate taxpayers	32.5%	32.5%

Trusts:	standard rate band generally	£1,000	£1,000
	dividends (rate applicable to trusts)	32.5%	32.5%
	other income (rate applicable to trusts)	40%	40%

Pre-owned assets tax (£5,000 minimum taxable)		As income

* Only applicable where taxable non-savings income is under £2,320