Income Tax rates and taxable bands
Band Rate 2018-2019 2017- 2018 2016-2017
Basic Rate 20% Up to £50,000 Up to £45,000 Up to £32,000
Higher Rate 40% £50,001 - £150,000 £45,001 - £150,000 £32,001 - £150,000
Additional Rate 45% Over £150,000 Over £150,000 Over £150,000
Basic Rate 20% Up to £50,000 Up to £45,000 Up to £32,000
Higher Rate 40% £50,001 - £150,000 £45,001 - £150,000 £32,001 - £150,000
Additional Rate 45% Over £150,000 Over £150,000 Over £150,000
*From 6 April 2019 the Dividend Tax Credit will be replaced by a new Dividend Allowance in the form of a 0% tax rate on the first £2,000 of dividend income per year.
UK residents will pay tax on any dividends received over the £2,000 allowance at the following rates:
UK residents will pay tax on any dividends received over the £2,000 allowance at the following rates:
- 7.5% on dividend income within the basic rate band
- 32.5% on dividend income within the higher rate band
- 38.1% on dividend income within the additional rate band
Income Tax allowances 2019-2020 2018-2019 2017-2018
Personal Allowance £12,500 £11,850 £11,500
Personal Allowance £12,500 £11,850 £11,500