Income Tax Rates
Your taxable income is not the similar as your total income. This is because all taxpayers are permitted a convinced quantity of tax-free income (called a personal allowance) and some may be free to supplementary allowances. You may also have some income which is exempt from tax.When using the facts in the taxable income columns, remember that they refer to your taxable income and not to total income. You can also come to know more about it online Income Tax Return Refund Rebate Tips.
From 6 April 2008, the starting rate of 10% is abolished for non-savings income. Tax is payable at the basic rate of 20% on the taxable income more than £36,000. If your income is more than £36,000, you will have to pay a higher rate of tax on the amount above this level.
To calculate the tax payable, you can work out the taxable income, after taking any allowances or tax relief into account (see under heading Using this