Income tax
2000/2001 (1999/2000)
Pounds 1 – Pounds 1,520 (Pounds 1- Pounds 1,500)
Dividends*: 10% (10%)
Savings: 10% (10%)
Other: 10% (10%)
Pounds 1,521- Pounds 28,400 (Pounds 1,501 – Pounds 28,000)
Dividends*: 10% (10%)
Savings: 20% (20%)
Other: 22% (23%)
Over Pounds 28,400 (Over Pounds 28,000)
Dividends*: 32.5% (32.5%)
Savings: 40% (40%)
Other: 40% (40%)
* Dividends are increased by a non-repayable tax credit of 1/9th
Dividends are treated as the top slice of total income, savings as the next slice and other income as the lowest slice.
Discretionary and accumulation trusts – dividends at 25% (25%), all other income at 34% (34%).