Income Tax Rates
| 2012/13 | 2011/12 | ||
| Band £ | Rate % | Band £ | Rate % |
| 0-2,710 | 10* | 0-2,560 | 10* |
| 0 – 34,370 | 20** | 0 – 35,000 | 20** |
| 34,371 - 150,000 | 40*** | 35,001 - 150,000 | 40*** |
| Over 150,000 | 50**** | Over 150,000 | 50**** |
*Only applicable to dividends and savings income. The 10% rate is not available if taxable non-savings income exceeds £2,710 (£2,560)
** Except dividends (10%).
*** Except dividends (32.5%).
**** Except Dividends (42.5%)
Other income taxed first, then savings income and finally dividends.
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John Galley, Partner
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