Allowances and tax rates


                  Personal Allowances, reliefs and tax rates - 2023/24
















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

2023/24

£

2022/23

£

Personal allowance (all ages)

12,570

12,570

Personal allowance income limit

100,000

100,000

Blind person's allowance

2,870

2,600

Marriage allowance

1,260

1,260

Income Tax Rates

Tax Rate

2023/24

£

2022/23

£

Basic rate

20%

0-37,700

0-37,700

Higher Rate

40%

37,701 - 125,140

37,701 - 150,000

Additional Rate

45%

125,140

150,000+

Savings tax rates

Tax Rate

2023/24

£

2022/23

£

Basic rate

0%

1,000

1,000

Higher rate

0%

500

500

Dividend tax rates

2023/24

Tax rate

2022/23

Tax rate

Dividend Allowance (0%)

First £1,000

First £2,000

Basic rate*

8.75%

8.75%

Higher rate*

33.75%

33.75%

Additional rate*

39.35%

39.35%


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