home

introduction

contact us

tax facts

useful links

.

.

INCOME TAX RATES

Income tax rates

Income tax allowances

Capital gains tax

Corporation tax

Inheritance tax

National insurance

Pension relief

Scale benefits for vehicles

Mileage Allowance

VAT

.

2012-13
2011-12
Individuals
Basic rate on first 34370 (35000)
20%
20%
Higher rate on next £115630 (£115000)
40%
40%
Additional rate over £150000
50%
50%
 
On savings income, excluding dividends
Starting rate*- Up to £2710 (£2560)
10%
10%
Basic rate up to 34370 (35000)
20%
20%
Taxable income above basic rate limit
40%
40%
Additional rate over £150000
50%
50%
* Does not apply if non-savings income is above this limit.
On dividend income
Basic rate
10%
10%
Higher rate
32.5%
32.5%
Additional rate
42.5%
42.5%
Trusts
Generally - basic rate
20%
20%
Dividend rate
42.5%
42.5%
Discretionary rate applicable to trusts
50%
50%

 

 

 


The Tax Practice (Guildford) Limited registered in England & Wales 4414698