Bands |
2024-25 |
2023-24 |
Savings starting rate - 0%* |
£1 - £5,000 |
£1 - £5,000 |
Basic rate 20% |
£1 - £37,700 |
£1 - £37,700 |
Higher rate 40% |
£37,701 - £125,140 |
£37,701 - £125,140 |
Additional rate 45% |
Over £125,140 |
Over £125,140 |
|
|
|
| Scottish rates | ||
| Starter rate 19% | £1 - £2,306 | £1 - £2,162 |
| Basic rate 20% | £2,307 - £13,991 | £2,163 - £13,118 |
Intermediate rate - 21% |
£13,992 - £31,092 |
£13,119 - £31,092 |
Higher rate - 42% |
£31,093 - £62,430 |
£31,093 - £125,140 |
| Advanced rate - 45% | £62, 431 - £125,140 | - |
Additional rate - 48% (2023-24: 47%) |
Over £125,140 |
Over £125,140 |
| Welsh rates | ||
| Starter rate 0%* | £1 - £5,000 | £1 - £5,000 |
| Basic rate 20% | £1 - £37,700 | £1 - £37,700 |
| Higher rate - 40% | £37,701 - £125,140 | £37,701 - £125,140 |
Additional rate - 45% |
Over £125,140 |
Over £125,140 |
* The savings starting rate does not apply if non-savings income exceeds £5,000.
Income tax in Scotland and Wales is payable on non-savings and non-dividend income.
| Dividend allowance | £500 | £1,000 |
| Dividend ordinary rate | 8.75% | 8.75% |
| Dividend upper rate |
33.75% | 33.75% |
| Dividend additional rate |
39.35% | 39.35% |
| Personal savings allowance |
||
| - basic rate taxpayers |
£1,000 | £1,000 |
| - higher rate taxpayers |
£500 | £500 |
Reliefs |
2024-25 |
2023-24 |
Personal allowance |
£12,570 | £12,570 |
Registered blind person's allowance |
£3,070 |
£2,870 |
Income limit for personal allowance* |
£100,000 |
£100,000 |
* The personal allowance is gradually withdrawn by £1 for every £2 of income over £100,000.
Married couple allowance - tax relief given at 10% |
|
|
- Born before 6 April 1935 |
£11,080 |
£10,375 |
- Minimum amount* |
£4,280 |
£4,010 |
- Income limit |
£37,000 |
£34,600 |
| - Marriage allowance* |
£1,260 | £1,260 |
*A tax payer can transfer up to £1,260 (2023-24: £1,260) of their unused personal allowance to a spouse or civil partner who is not a higher rate taxpayer.
High Income Child Benefit Charge* on income over |
£60,000 | £50,000 |
* A tax charge of 1% is levied for each £200 (2023-24: £100) that income exceeds £60,000 (2023-24: £50,000) to a maximum of 100%.
There is a cap on certain Income Tax reliefs of the greater of £50,000 or 25% of income.