Section 6 of ITA 2007 (rates of income tax) is amended as follows.
In subsection (1), omit the "and" at the end of paragraph (b) and insert at the end
In subsection (3)(b), for "and dividend upper rate" substitute ." , dividend upper rate and dividend additional rate "
In section 9 (trust rate and dividend trust rate)—
in subsection (1), for "40%" substitute , and" 50% "
in subsection (2), for "32.5%" substitute ." 42.5% "
Schedule 2 contains provision supplementing this section (including provision about rates under Part 4 of FA 2004).
The amendments made by this section have effect for the tax year 2010-11 and subsequent tax years.