Basic Rate Tax |
| "The main rate of income tax in the UK, which for the year 2006-2007 is 22%. The rate is applied to each individual's taxable income, which is calculated as: income less reliefs and allowances. The basic rate is only applied to the income between œ2,151 and œ33,300 (for the tax year 2006-2007). For income from œ1-œ2,150, the tax rate is 10% (starting rate) |
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