Budget 2008 Introduction Main Income Tax reliefs Income Tax Rates and bands Car Benefit Assessment Tax Free Mileage Allowances National Insurance Contributions Pension Contributions Inheritance Tax Value Added Tax Capital Gains Tax Corporation Tax Main capital allowances Stamp Duty & Stamp Duty Land Tax Earliest due dates for payment of tax

Income Tax Rates and bands   2008/09 2007/08   Starting rate on first * £2,230 Basic rate on next 36,000 32,370 Higher rate on taxable income over 36,000 34,600   * Starting rate band within basic rate band for savings income only: £2,320   Tax rates     Rates differ for General/Interest/Dividends   2008/09   2007/08 Rates differ for General/Interest/Dividends G I D   G I D Starting rate N/A 10% 10%   10% 10% 10% Basic rate 20% 20% 10%   22% 20% 10% Higher rate 40% 40% 32.5%   40% 40% 32.5% General income (salary, pension, profit, rent) uses lower rate bands first, then interest, then dividends. Discretionary trusts: basic rate as above applies to the first £1,000 of income, then higher rate.