A new 50% higher rate tax will apply to those with taxable income above £150,000...
From 6th April 2010, a new 50% higher rate tax will apply to those with taxable income above £150,000. As a consequence of the change, a new rate of 42.5% will apply to dividend income above £150,000 thus introducing a third tax rate to be applied to dividends. These changes will also apply to trusts where the trust rate and dividend trust rate will increase to 50% and 42.5% respectively from 2010/11.
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