PART 1Income tax, corporation tax and capital gains tax

Income tax charge, rates etc

3Default and savings rates of income tax for tax year 2021-22

(1)

For the tax year 2021-22 the default rates of income tax are as follows—

(a)

the default basic rate is 20%,

(b)

the default higher rate is 40%, and

(c)

the default additional rate is 45%.

(2)

For the tax year 2021-22 the savings rates of income tax are as follows—

(a)

the savings basic rate is 20%,

(b)

the savings higher rate is 40%, and

(c)

the savings additional rate is 45%.