Income tax rates for 2010-11 - May 2010
The basic rate of income tax will remain at 20% and the higher rate will remain at 40%. The additional rate will be set at 50%. The basic rate limit will remain at £37,400 and the additional rate will apply to taxable income above £150,000.
The limit for the 10% starting rate for savings will remain at £2,440.
The personal allowances will remain at their existing amounts. The personal allowance for those under 65 will remain at £6,475, the personal allowance for those aged 65 to 74 will remain at £9,490 and the personal allowance for those aged 75 and over will remain at £9,640. The amount of the personal allowance will be gradually withdrawn for all individuals (regardless of age) with incomes above £100,000.
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