Income Tax Rates
Back to Income Tax.
2008 to 2009
Starting rate* = 10% - £0 - £2,230
Basic Rate = 22% - £0 - £34,800
Higher Rate = 40% - £34,800+
2009 to 2010
Starting Rate* 10% = £0 - £2,440
Basic Rate 20% = £0 - £37,400
Higher Rate 40% = £37,400+
Increased Higher Rate 50% from April 2010 = £150,000+
This replaces the 45% Tax Rate
* From 2008-2009 the 10% starting rate now only applies to income which is produced from savings. If however your taxable income is higher than the starting rate maximum then the 10% starting rate will not actually apply to any savings which you have.
Back to Income Tax.
Comments
No comments for this article yet. Be the first to comment!