Income Tax Rates

Income Tax - taxable bands	2012/13(£)	2011/12(£)
Starting rate: 10%:	-	-
Basic rate: 20%:	£0 -34,370	£0 -35,000
Higher rate: 40%	£34,371 -150,000	£35,001 -150,000
Additional Rate: 50%	£150,000 +	£150,000 +

*for 20012/13 applicable on savings income only where it is below £2,710., and for 2011/12 below £2,560.

Dividends
Basic rate taxpayers	10%	10%
Higher rate taxpayers	32.5%	32.5%
Additional rate taxpayers	42.5%	42.5%

Pre-owned assets tax (£5,000 taxable threshold)	As income	As income

Discretionary and Relevant Property Trusts*
Standard rate band	1,000	1,000
Dividends (rate applicable to trusts - RAT)	42.5%	42.5%
Other income (rate applicable to trusts - RAT)	50%	50%

*from 6/4/2008 A&M trusts can only be created by a parent's will, all other trusts will fall under the RPT regime.

Interest In Possession Trusts
UK Dividends	10%	10%
Savings, rent and trading	20%	20%

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