Saving rate on Income tax.... HELPPPPP

Mmholyhead16y ago

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..

Aacltang7216y ago#1

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)

Mmholyhead16y ago#2

THANKS

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