Income Tax Act 2007 (c. 3)

Part 2 U.K. Basic provisions

Chapter 2 U.K. Rates at which income tax is charged

The rates U.K.

6 The F1 ... basic rate and higher rate U.K.

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

F2 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) the basic rate, and

(c) the higher rate.

(2) The F3 ... basic rate and higher rate for a tax year are the rates determined as such by Parliament for the tax year.

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

[F4 (a) section 7 (starting rate for savings),]

(b) section 8 (dividend ordinary rate and dividend upper 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 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)

F3 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)

F4 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)

[F5 7 The starting rate for savings U.K.

The starting rate for savings is 10%.]

Textual Amendments

F5 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

8 The dividend ordinary rate and dividend upper rate U.K.

(1) The dividend ordinary rate is 10%.

(2) The dividend upper rate is 32.5%.

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

(1) The trust rate is 40%.

(2) The dividend trust rate is 32.5%.