Income Tax Rates

Income is taxed in a specific order with savings and dividend income taxed last.

The dividend rate is partially satisfied by a 10% tax credit given on dividends. Therefore dividends falling within the basic rate band do not suffer any additional tax.

Income Tax Rates

Income Tax Rates 2018/19 2017/18
Personal allowance Up to £11,850 Up to £11,500
20% basic rate on income to: Up to £46,350 Up to £33,500
40% higher rate on income to £150,000 £150,000
45% additional rate on income above £150,001+ £150,001+
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