* Only applies to savings income
** Dividends taxed at 10% (and savings income 20% in 2007/08)
*** Dividends taxed at 32.5% of the gross dividend.
Other income is taxed first, then savings and then dividends.
The 2008 pre-budget announced that for 2011/12 there will be a higher rate of income tax of 45% for taxable savings and non-savings income over £150,000. Dividend income above this level will then be taxed at 37.5%.
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