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The Budgets of 1983–1988 saw sharp cuts in both main and small companies' rates, falling to 35% and 25% respectively. [7] Budgets between 1988 and 2001 brought further falls to a 30% main rate and 19% small companies' rates. [7] From April 1983 to March 1997 the small companies' rate was pegged to the basic rate of income tax. [11]
UK income tax and National Insurance charges (2016–17) UK income tax and National Insurance as a percentage of taxable pay, and marginal income tax and NI rate (2016–17) Annual income percentiles for taxpayers in the UK, before and after income tax. In the SVG file, hover over a graph to highlight it.
The qualified dividend tax rate was set to expire December 31, 2008; however, the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) extended the lower tax rate through 2010 and further cut the tax rate on qualified dividends to 0% for individuals in the 10% and 15% income tax brackets.
Before 2003, all dividends issued by companies were taxed as ordinary income, meaning you’d pay the same tax rate on them as if you were receiving your salary or wages.
The tax rates given for ... (standard rate) 25% (reduced rate for small companies) 0% ... (17% income tax + 1.19% unemployment fund contribution + 6.0-10.5% ...
Until 1993 the income tax rate payable on dividends was the same as all other income, and the ACT rate was adjusted to align it to changes in the basic rate of income tax. From April 1993, the ACT rate was cut to 22.5% while the tax rate on dividend income was set at 20%, the first time it was set at a different rate to that payable on other ...