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Home Resource Centre Tax Tables Income Tax Rates

Tax Tables

Income Tax Rates

Income Tax - taxable bands

2020/21

2019/20

2018/19

Starting rate for savings: 0%

£0 -5,000

£0 -5,000

£0 -5,000

Basic rate: 20%

£0 -37,500

£0 -37,500

£0 -34,500

Higher rate: 40%

£37,501 -150,000

£37,500 -150,000

£34,501 -150,000

Additional Rate: 45%

£150,000 +

£150,000 +

£150,000 +

 

 

 

 

Savings Allowance

     

Basic Rate

£1000

£1000

£1000

Higher Rate

£500

£500

£500

Additional Rate

£-

£-

£-

       

Dividends (effective rate)

 

 

 

Personal dividend allowance - first £2,000 of dividends

0%

0%

0%

Basic rate taxpayers

7.5%

7.5%

7.5%

Higher rate taxpayers

32.5%

32.5%

32.5%

Additional rate taxpayers 45%

38.1%

38.1%

38.1%

 

 

 

 

Pre-owned assets tax (£5,000 taxable threshold)

As income

As income

As income

 

     

Discretionary and Relevant Property Trusts*

     

Standard rate band

1,000

1,000

1,000

Dividends (rate applicable to trusts - RAT)

38.1%

38.1%

38.1%

Other income (rate applicable to trusts - RAT)

45%

45%

45%

 

     

 

 

 

 

Interest In Possession Trusts

 

 

 

UK Dividends

7.5%

7.5%

7.5%

Savings, rent and trading

20%

20%

20%

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