Accountancy ServicesDue diligence, acquisition and merger adviceAudit and accounts preparationTax planning and adviceForensic accountingBusiness navigatorTax CalculatorsBudget 2011
There is currently no news available. |
Income Tax and Rate Bands
| | 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 | | | * 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.
| | | | Tax rates | | |
| Rates differ for General/Savings/Dividends | | | 2011/12 and 2010/11 | | | 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% | | | | 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. |
|
|
