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PERSONAL TAX
Income Tax Rates and Allowances
For 2006/07, the lower, basic and higher rates of income tax remain at 10%, 22% and 40% respectively.
The starting rate band is increased by £60 to £2,150, and the basic rate band by £840 to £31,150 (so that the higher rate applies to taxable income in excess of £33,300).
PERSONAL TAX
Income Tax Rates and Allowances
For 2006/07 the lower basic and higher rates of income tax remain at 10% 22% and 40% respectively.
The starting rate band is increased by £60 to £2 150 and the basic rate band by £840 to £31 150 (so that the higher rate applies to taxable income in excess of £33 300).
The special rates applicable to dividends and other savings income are unchanged.
The rate applicable to discretionary and accumulation trusts remains at 40% (32.5% for dividend income). The 'basic rate' band for such trusts is increased from £500 to £1 000.
The basic personal allowance is increased by £140 to £5...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
