Allowances and tax rates

Personal Allowances, reliefs and tax rates













       

 

The personal allowance is restricted by £1 for every £2 of an individual’s adjusted net income above £100,000.


























*See tax rate bands above.


Please note the above rates do not cover Scotland, who have devolved tax rates. Please contact us directly is you wish to discuss the Scottish rates of tax and allowances.

Personal Allowances

2021/22

£

2020/21

£

Personal allowance (all ages)

12,570

12,500

Personal allowance income limit

100,000

100,000

Blind person's allowance

2,520

2,500

Marriage allowance

1,260

1,250

Married couples allowance (relief given at 10%)

Born before 6 April 1935

Income limit

Min amount

9,125


30,400

3,530

9,075


30,200

3,510

Income Tax Rates

Tax Rate

2021/22

£

2020/21

£

Basic rate

20%

0-37,700

0-37,500

Higher Rate

40%

37,701-150,000

37,501 - 150,000

Additional Rate

45%

150,000+

150,000+

Savings tax rates

Tax Rate

2021/22

£

2020/21

£

Basic rate

0%

1,000

1,000

Higher rate

0%

500

500

Dividend tax rates

2021/22

Tax rate

2020/21

Tax rate

Dividend Allowance (0%)

First £2,000

First £2,000

Basic rate*

7.5%

7.5%

Higher rate*

32.5%

32.5%

Additional rate*

38.1%

38.1%


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