Tax centre
Tax tables 2007-08
Income Tax
| 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 | 10% | 10% |
| – higher rate taxpayers | 32.5% | 32.5% |
| Trusts: | ||
| – standard rate band generally | £1,000 | £1,000 |
| – dividends (rate applicable to trusts) | 32.5% | 32.5% |
| – other income (rate applicable to trusts) | 40% | 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.