McGovern Accountancy Ltd
  • Home
  • About Us
  • Our Services
    • Payroll & Human Resources
    • Company Secretarial and Corporate Compliance Services
    • Individuals & SME's
    • Agriculture
    • Not For Profit
    • Health Care
  • Resources
    • Income Tax Rates and Taxable Bands
    • Corporate Tax Rates
    • Capital Gains Tax
    • VAT
    • Statutory Sick Pay and Statutory Maternity Pay
    • Holiday Entitlements
  • Contact Us

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                                    

Picture
 *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:
  • 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



Dividends received on shares held in an Individual Savings Account (ISA) will continue to be tax free.




Income Tax allowances     2019-2020       2018-2019       2017-2018

Personal Allowance           £12,500        £11,850        £11,500
For more information check out the HMRC website

WE WOULD LOVE TO HAVE YOU VISIT SOON !!

Hours

M-F:9am - 5pm

Telephone

Email

028 3088 8375 
pauline@mcgaccountancy.com

  • Home
  • About Us
  • Our Services
    • Payroll & Human Resources
    • Company Secretarial and Corporate Compliance Services
    • Individuals & SME's
    • Agriculture
    • Not For Profit
    • Health Care
  • Resources
    • Income Tax Rates and Taxable Bands
    • Corporate Tax Rates
    • Capital Gains Tax
    • VAT
    • Statutory Sick Pay and Statutory Maternity Pay
    • Holiday Entitlements
  • Contact Us