Budget 2009 _ More Tax for High Earners and Trusts
Published / Last Updated on 22/04/2009
Budget 2009 - More Tax for High Earners and Trusts
With effect 6 April 2010 a new rate of 50% tax is being introduced for taxable income in excess of £150,000. Dividends above this level will be taxed at 42.5%.
Additionally, for income in excess of £100,000 the personal allowance will be reduced by £1 for every £2 over the £100,000.
For trusts, the rate of income tax will increase from 40% to 50%.
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