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Income Tax Rates

Income Tax Rates
Income tax allowances |
2022/23 |
2021/22 |
2020/21 |
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Personal allowances |
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Basic allowance |
£12,570 |
£12,500 |
£12,500 |
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Income limit for personal allowance |
£100,000 |
£100,000 |
£100,000 |
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Dividend allowance |
£2,000 |
£2,000 |
£2,000 |
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Marriage/civil partnership allowances |
2022/23 |
2021/22 |
2020/21 |
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Transferable tax limit |
£1,260 |
£1,260 |
£1,250 |
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Married couples/civil partnerships allowance maximum (born before 6 April 1935) |
£9,415 |
£9,125 |
£9,075 |
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Married couples/civil partnerships allowance maximum (born on/after 6 April 1935) |
£3,640 |
£3,530 |
£3,510 |
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Income limit for married couples/civil partnerships allowance | £31,400 |
£30,400 |
£30,200 |
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Savings allowances |
2022/23 |
2021/22 |
2020/21 |
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Basic rate |
£1,000 |
£1,000 |
£1,000 |
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Higher rate |
£500 |
£500 |
£500 |
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Additional rate |
£0 |
£0 |
£0 |
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Other allowances |
2022/23 |
2021/22 |
2020/21 |
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Blind person's allowance | £2,600 |
£2,500 |
£2,500 |
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Rent-a-room tax free home income (restricted to £3,750 if letting jointly) | £7,500 |
£7,500 |
£7,500 |
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Pre-owned assets de-minimis | £5,000 |
£5,000 |
£5,000 |
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Income tax - taxable bands |
2022/23 |
2021/22 |
2020/21 |
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Savings | 0% | £0 - £5,000 |
£0 - £5,000 |
£0 - £5,000 |
Basic rate | 20% | £0 - £37,700 |
£0 - £37,700 |
£0 - £37,500 |
Higher rate | 40% | £37,701 - £150,000 |
£37,701 - £150,000 |
£37,501 - £150,000 |
Additional rate | 45% | £150,001 + |
£150,001 + |
£150,001 + |
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Dividend rates |
2022/23 |
2021/22 |
2020/21 |
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Basic rate | 8.75% |
7.5% |
7.5% |
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Higher rate | 33.75% |
32.5% |
32.5% |
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Additional rate | 39.35% |
38.1% |
38.1% |
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Discretionary and relevant property trusts |
2022/23 |
2021/22 |
2020/21 |
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Starting rate band | £1,000 |
£1,000 |
£1,000 |
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Starting dividend rate | 8.75% |
7.5% |
7.5% |
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Dividends above the starting rate | 39.35% |
38.1% |
38.1% |
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Other income above the starting rate | 45% |
45% |
45% |
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Interest in possession trusts |
2022/23 |
2021/22 |
2020/21 |
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UK dividends | 8.75% |
7.5% |
7.5% |
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Savings, rent and trading | 20% |
20% |
20% |
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