Savings

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The 10% starting rate of Income Tax includes savings income. Where an individual has savings income in excess of the starting rate limit they will be taxed at the lower rate of 20% up to the basic rate limit and at the higher rate of 40% for income above the basic rate limit.

The rates of tax for dividends are 10% for income up to the basic rate limit and 32.5% for income above the basic rate limit.

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