Income Tax

INCOME TAX
UK excluding Scottish taxpayers’ non-savings income 18/19 19/20
20% basic rate on taxable income up to £34,500 £37,500
40% higher rate on taxable income over £34,500 £37,500
45% additional rate on taxable income over £150,000 £150,000
All UK taxpayers
Starting rate at 0% on savings income up to* £5,000 £5,000
Personal savings allowance at 0%: Basic rate

Higher rate

Additional rate

£1,000

£500

£0

£1,000

£500

£0

Dividend allowance at 0% – all individuals £2,000 £2,000
Tax rates on dividend income:    Basic rate 7.5% 7.5%
                                              Higher rate 32.5% 32.5%
                                              Additional rate 38.1% 38.1%
Trusts: Standard rate band generally £1,000 £1,000
Rate applicable to trusts: Dividends 38.1% 38.1%
                             Other income 45% 45%

* Not available if taxable non-savings income exceeds the starting rate band

              

Scottish taxpayers – non-dividend, non-savings income* 18/19 19/20
19% starter rate on income up to £2,000 TBA
20% basic rate on slice of income up to £12,150 TBA
21% intermediate rate on next slice up to £31,580 TBA
41% higher rate on next slice up to £150,000 TBA
46% top rate on income over £150,000 TBA

* Scottish rates for 19/20 TBA on 12/12/18 in Scottish Budget

 

High Income Child Benefit charge: 1% of benefit per £100 of adjusted net income of £50,000–£60,000

 

Main personal allowances and reliefs 18/19 19/20
Personal allowance* £11,850 £12,500
Married couple’s / civil partner’s transferable allowance £1,190 £1,250
Married couple’s / civil partner’s allowance at 10% – maximum
(if at least one born before 6/4/35)                            – minimum
£8,695 £8,915
£3,360 £3,450
Blind person’s allowance £2,390 £2,450
Rent-a-room relief £7,500 £7,500
Property allowance and trading allowance (each) £1,000 £1,000

* Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000
Married couple’s allowance reduced by £1 for every £2 of adjusted net income over £29,600 (£28,900 for 2018/19), until minimum reached

Non-domicile remittance basis charge after UK residence in at least: 18/19 19/20
7 of the last 9 tax years

12 of the last 14 tax years

£30,000

£60,000

£30,000

£60,000

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ICAEW The Chartered Institute of Taxation ACCA IPG IR