Part 2Basic provisions
Chapter 2Rates at which income tax is charged
The rates
6The F1... basic rate and higher rate
(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).
F57The starting rate for savings
The starting rate for savings is 10%.
8The dividend ordinary rate and dividend upper rate
(1)
The dividend ordinary rate is 10%.
(2)
The dividend upper rate is 32.5%.
9The trust rate and dividend trust rate
(1)
The trust rate is 40%.
(2)
The dividend trust rate is 32.5%.