Tax Rates & Allowances - Income Tax Rates and Bands
Income Tax rates and bands
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2011/12 |
2010/11 |
| Starting rate on band *(SRB) |
2,560 |
2,440 |
| Basic rate band (BRB) |
35,000 |
37,400 |
| Higher rate band (HRB) |
35,001-150,000 |
37,401-150,000 |
| Additional rate |
over 150,000 |
over 150,000 |
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* SRB is within BRB and applies to savings income only. If taxable general income exceeds the SRB, the 10% rate is not available for savings income.
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| Tax rates |
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| Rates differ for General/Savings/Dividends |
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2011/12 and 2010/11 |
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G |
S |
D |
| Starting rate |
N/A |
10% |
10% |
| Basic rate |
20% |
20% |
10% |
| Higher rate |
40% |
40% |
32.5% |
| Additional rate |
50% |
50% |
42.5% |
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| General income (salary, pension, profit, rent) uses lower rate bands first, then savings (interest), then dividends. Discretionary trusts: basic rate as above applies to the first £1,000 of income, then additional rate. |
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Designated Members : M.J. Jay, F.C.A. • P.E. Farrow, F.C.C.A., A.C.A. • J.W. Hall, F.C.C.A., A.C.A. • J.R. Turner, Dip. P.F.S., A.I.F.P. • R.D. Gray, A.C.I.B. • S.J. Edwards, F.C.A.
Member: S.T. Boote, B.Sc (Econ), F.C.A.
Offices at King's Lynn and Downham Market. Registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Mapus-Smith & Lemmon LLP is a registered limited liability partnership.
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