Income Tax Act 2007

The rates U.K.

6 F1 The ... basic rate[F2 , higher rate and additional rate] U.K.

(1) The main rates at which income tax is charged are—

F3 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) the basic rate, F4 ...

(c) the higher rate[F5 , and

(d) the additional rate.]

(2) The F6 ... basic rate[F7 , higher rate and additional rate] for a tax year are the rates determined as such by Parliament for the tax year.

F8 (2A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8 (2B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8 (2C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) For other rates at which income tax is charged see—

[F9 (za) section 6A (Scottish basic, higher and additional rates),]

[F10 (a) section 7 (starting rate for savings),]

(b) section 8 (dividend ordinary rate[F11 , dividend upper rate and dividend additional rate]), and

(c) section 9 (trust rate and dividend trust rate).

Textual Amendments

F1 Words in s. 6 heading omitted (21.7.2008 with effect in accordance with s. 5(6) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 5(5)

F2 Words in s. 6 heading substituted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 2(3)

F3 S. 6(1)(a) omitted (21.7.2008 with effect in accordance with s. 5(6) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 5(2)

F4 Word in s. 6(1)(b) omitted (with effect in accordance with s. 6(6) of the amending Act) by virtue of Finance Act 2009 (c. 10), s. 6(2)

F5 S. 6(1)(d) and preceding word inserted (with effect in accordance with s. 6(6) of the amending Act) by Finance Act 2009 (c. 10), s. 6(2)

F6 Words in s. 6(2) omitted (21.7.2008 with effect in accordance with s. 5(6) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 5(3)

F7 Words in s. 6(2) substituted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 2(2)

F8 S. 6(2A)-(2C) omitted (with effect in accordance with Sch. 38 para. 12 of the amending Act) by virtue of Finance Act 2014 (c. 26), Sch. 38 para. 2(a)

F9 S. 6(3)(za) inserted (with effect in accordance with Sch. 38 para. 12 of the amending Act) by Finance Act 2014 (c. 26), Sch. 38 para. 2(b)

F10 S. 6(3)(a) substituted (21.7.2008 with effect in accordance with s. 5(6) of the amending Act) by Finance Act 2008 (c. 9), s. 5(4)

F11 Words in s. 6(3)(b) substituted (with effect in accordance with s. 6(6) of the amending Act) by Finance Act 2009 (c. 10), s. 6(3)

[F12 6A The Scottish basic, higher and additional rates U.K.

(1) The Scottish basic rate, the Scottish higher rate and the Scottish additional rate for a tax year are calculated as follows.

• Step 1 Take the basic rate, higher rate or additional rate.

• Step 2 Deduct 10 percentage points.

• Step 3 Add the Scottish rate (if any) set by the Scottish Parliament for that year.

(2) For provision about the setting of the Scottish rate, see Chapter 2 of Part 4A of the Scotland Act 1998.]

Textual Amendments

F12 S. 6A inserted (with effect in accordance with Sch. 38 para. 12 of the amending Act) by Finance Act 2014 (c. 26), Sch. 38 para. 3

[F13 7 The starting rate for savings U.K.

The starting rate for savings is [F14 0%].]

Textual Amendments

F13 S. 7 substituted (21.7.2008 with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 2

F14 Word in s. 7 substituted (with effect in accordance with s. 3(5) of the amending Act) by Finance Act 2014 (c. 26), s. 3(1)

8 The dividend ordinary rate[F15 , dividend upper rate and dividend additional rate] U.K.

(1) The dividend ordinary rate is 10%.

(2) The dividend upper rate is 32.5%.

[F16 (3) The dividend additional rate is [F17 37.5%].]

Textual Amendments

F15 Words in s. 8 heading substituted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 3(3)

F16 S. 8(3) inserted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 3(2)

F17 Figure in s. 8(3) substituted (17.7.2012) (with effect in accordance with s. 1(6) of the amending Act) by Finance Act 2012 (c. 14), s. 1(3)(a)

9 The trust rate and dividend trust rate U.K.

(1) The trust rate is [F18 45%].

(2) The dividend trust rate is [F19 37.5%].

Textual Amendments

F18 Words in s. 9(1) substituted (17.7.2012) (with effect in accordance with s. 1(6) of the amending Act) by Finance Act 2012 (c. 14), s. 1(3)(b)

F19 Words in s. 9(2) substituted (17.7.2012) (with effect in accordance with s. 1(6) of the amending Act) by Finance Act 2012 (c. 14), s. 1(3)(c)