Income Tax

Rates and bands (other than savings and dividend income)

2022/23 2021/22
Band £ Rate % Band £ Rate %
0 - 37,700 20 0 - 37,700 20
37,701 - 150,000 40 37,701 - 150,000 40
Over 150,000 45 Over 150,000 45

Income tax rates in Scotland and Wales on income other than savings and dividend income have been devolved.

Savings income 2022/23 and 2021/22
Savings allowance basic rate £1,000
Savings allowance higher rate £500

A starting rate of 0% may be available unless taxable non-savings income exceeds £5,000.

Dividend income 2022/23 2021/22
Dividend allowance £2,000 £2,000
Dividend ordinary rate 8.75% 7.5%
Dividend upper rate 33.75% 32.5%
Dividend additional rate 39.35% 38.1%

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