Income Tax Return to BSG Valentine homepage
| Rates | 2007/08 | 2006/07 | ||
| 10% on first | £2,230 | £2,150 | ||
| 22% (20% for savings income) on next | £32,370 | £31,150 | ||
| 40% on income over | £34,600 | £33,300 | ||
| Dividends for: | basic rate taxpayers higher rate taxpayers |
10% 32.5% |
10% 32.5% |
|
| Trusts: | standard rate band generally dividends (rate applicable to trusts) other income (rate applicable to trusts) |
£1,000 32.5% 40% |
£1,000 32.5% 40% |
|
| Pre-owned assets tax (£5,000 minimum taxable) | As income | |||
© Copyright 21 March 2007, subject to Finance Act 2007. For information only. Always seek professional advice before acting.