Tax Tables

 

A summary of tax rates and allowances for 2000/2001 (Year to 5^th April 2001)

 

Personal Allowances

 

·        Personal Allowance £4385

 

Income Tax Rates

 

·        Lower Rate - 10% of the first £1520

·        Basic Rate  - 22% on the next £26880

·        Higher Rate - 40% on the remainder

 

Tax on Investment Income

 

·        Basic rate on investment income is 20%

·        Basic rate on dividend income is 10%

·        Higher rate tax payers are assessed an additional 20%

 

Corporation Tax

Financial year to 31 March 2001

 

• Full Rate                                               30%
• Starting rate                                          10%

Upper profit limit                               £10000

Marginal relief: upper profit limit         £50000

• Small companies rate                            20%

Upper profit limit                               £300000

Marginal relief: upper profit limit         £1500000

 

 

 

Capital Gains Tax

 

Annual exempt amount                                      £7200

 

Rates                                                                10% to 40%

 

 

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