This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet
Income tax bands raised
21/03/2007, by Sarah Laing, Tax News - Business Tax
5661 views
0
Rate:
Rating: 0/5 from 0 people

The starting rate and basic rate thresholds for income tax purposes will rise to £2,230 and £34,600 respectively for 2007/08.

The Income Tax (Indexation) Order 2007 (SI 2007/943) raises the 10% starting rate band limit from £2,150 in 2006/07 to £2,230 for 2007/08.

The basic rate band limit is raised from £33,300 in 2006/07 to £34,600 in 2007/08.

Income above £34,600 is charged to income tax at the rate of 40% for 2007/08.

Link

Statutory Instrument 2007/943

About The Author

Sarah Laing
Editor, TaxationWeb News

Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences).

Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession.

Back to Tax News
Comments

Please register or log in to add comments.

There are not comments added