Tax Rates

The following table of tax rates will allow you to calculate your tax liabilities up until 05 April 2014. The tax rates table includes the 2011/12, 2012/13, 2013/14 tax years.

Income tax rates 2011/12 2012/13 2013/14
Starting Rate Band*  £2,560 £2,710  £2,790
Basic rate band £35,000.00 £34,370.00 £32,010.00
Savings starting rate *10% *10% *10%
Basic rate 20% 20% 20%
Basic Rate Dividends 10% 10% 10%
Higher rate – income over £35,000.00 £34,370.00 £32,010.00
Higher rate 40% 40% 40%
Dividend upper rate 32.5% 32.5% 32.5%
Additional rate – income over £150,000.00 £150,000.00 £150,000.00
Additional rate 50% 50% 45%
Dividend additional rate 42.5% 42.5% 37.5%
* The Starting rate applies to savings income only. Only applies where an individuals non savings income is less than the starting rate. The starting rate is reduced by the amount of non savings income.
Trusts
For interest in possession trusts on all income, and other trusts on the first £1,000 of income (“standard rate band”):
dividend ordinary rate 10% 10.0% 10.0%
savings income 20% 20% 20%
other income 20% 20% 20%
Income of other trusts above £1,000 is taxed at the special trust rates:
rate applicable to trusts 50% 50% 45%
dividend trust rate 42.5% 42.5% 37.5%
Personal allowance (PA)
under 65 £7,475.00 £8,105.00 £9,440.00
65 to 74* £9,940.00 £10,500.00 £10,500.00
75 and over* £10,090.00 £10,660.00 £10,660.00
Blind person’s allowance £1,980.00 £2,100.00 £2,160.00
Married couple’s allowance (MCA)
Either partner born before 6 April 1935 Maximum (relief restricted to 10%) £7,295.00 £7,705.00 £7,915.00

 

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