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Income Tax Rates

INCOME TAX RATES - ENGLAND, WALES & NI - non-dividend income

Tax rate

2019/20

2018/19

Notes

Savings starting rate

0%

£0-£5,000

£0-£5,000

Only available if non-savings income is less than this amount.

Basic rate  

20%

£0-£37,500

£0-£34,500

The rates of tax are after your Personal Allowances - so in 2019/20, you start paying the 40% higher rate of tax when your income exceeds £37,500 + £12,500 = £50,000 (2018/19 - £46,350). The tax bands are increased by gross pension and gift aid payments, thus giving you tax relief at higher rates.


Higher rate  

40%

£37,501 -£150,000

£34,501 -

£150,000

Additional rate

45%

> £150,000

> £150,000

INCOME TAX RATES - dividend income new rules from 6.4.2016

2019/20

2018/19

Notes

Starting rate

0% (to £2,000)

0% (to £2,000)

From 6.4.2016 the notional tax credit was abolished and new dividend tax rates announced. A dividend allowance of £5,000 taxed at 0% was introduced. Any dividend income over the allowance is treated as the highest part of a taxpayer’s income to determine which tax band it falls into for the purpose of calculating the tax on dividends.


Dividends within basic rate band

7.5%

7.5%

Dividends at higher rate band

32.5%

32.5%

Dividend at additional rate band

38.1%

38.1%

SCOTTISH INCOME TAX RATES  non-dividend income

Tax rate

2019/20

2018/19

Notes

Starter rate

19%

£1-£2,049

£0-£2,000

The rates of tax are after personal allowances.


You pay Scottish rates of income tax if you live in Scotland.

Basic rate

20%

£2,050-£12,444

£2,001-£12,150

Intermediate rate

21%

£12,445-£30,930

£12,151-£31,580

Higher rate

41%

£30,931 -£150,000

£31,581 -

£150,000

Additional rate band

46%

> £150,000

> £150,000