Budget 2007 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   2007/08 2006/07   Lower rate on first £2,230 £2,150 Basic rate on next 32,370 31,150 Higher rate on taxable income over 34,600 33,300   Tax rates 2007/08 (unchanged from 2006/07)     Rates differ for Dividends/Interest/Other D I O Starting rate 10% 10% 10% Basic rate 10% 20% 22% Higher rate 32.5% 40% 40% Dividends taxed at highest part of income, then interest, then other Discretionary trust       - within £1,000 standard rate band 10% 20% 22% - thereafter 32.5% 40% 40%