tax table
income tax rates
| Description | 2006/2007 |
2005/2006 |
|---|---|---|
| Starting Rate 10% on first | £2,150 |
£2,090 |
| Basic Rate (20% for savings income) 22% on next | £31,150 |
£30,310 |
| Higher Rate 40% on income over | £33,300 |
£32,400 |
| Dividends - Basic rate Taxpayers - Higher rate Taxpayers |
10% 32.50% |
10% 32.50% |
| Pre-owned Assets Tax (charge as income) minimum | £5,000 |
£5,000 |
| Trusts - Standard rate band generally - Dividends (rate applicable to trusts) - Other income (rate applicable to trusts) |
£1,000 32.50% 40% |
£500 32.50% 40% |
| Construction Industry Subcontractors (rate deducted from gross income) | 18% |
18% |
13
A bakers' dozen
