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Hi guys,
I just started going through the Dec notes online, and i am confused already…. just went throuhgh the first a few examples. and I noticed that the saving rate is charged differently, sometimes it gets charged at 10% and sometimes is 20%, i am totally confused…. anyone can help at all????
Many MANY THANKS..
Summary of savings income tax rates:
Below £2,440 @ 10% (lower rate band)
Above £2,440 and below £37,400 @ 20% (basic rate band)
Above £37,400 @ 40% (higher rate band)
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