basic rate

British  

noun

1. the standard or lowest level on a scale of money payable, esp in taxation

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Example Sentences

Thereafter the party aims to cut the rates by 1p - creating a 19p basic rate, a 39p higher rate and a 44p additional rate.

From BBC • Mar. 19, 2026

The basic rate of income tax has not been raised since the 1970s.

From BBC • Oct. 24, 2025

Under the current system, savers receive tax relief at the same rate as their income tax - meaning basic rate taxpayers receive relief at 20% and higher rate taxpayers at 40% or 45%.

From BBC • Oct. 21, 2024

At the moment, savers receive tax relief at the same rate as their income tax - so basic rate taxpayers get tax relief at 20% and higher rate taxpayers at 40% or 45%.

From BBC • Sep. 18, 2024

Tourist rates for noncommunist country currencies embody a bonus of 189 percent over the basic rate, making 16 lei equivalent to US$1.

From Area Handbook for Romania by Bernier, Donald W.