Tax centre
Tax tables 2007-08
Income Tax
| Rates | ||
|---|---|---|
| 2008/09 | 2006/07 | |
| Starting rate of 10% on first | £2,320* | £2,230 |
| Income to which starting rate applies | Savings | All |
| Basic rate on earned, pensions and property income | 20% | 22% |
| Basic rate on savings income | 20% | 20% |
| 40% on income over | £34,800 | £34,600 |
| 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 12 March 2008, subject to Finance Act 2008. For information only. Always seek professional advice before acting.