Income Tax
2019/20 | 2018/19 | |
Rates | ||
Basic rate of 20% on income up to | £37,500 | £34,500 |
Higher rate of 40% on income | £37,501 - £150,000 | £34,501 - £150,000 |
Additional rate of 45% on income over | £150,000 | £150,000 |
Dividends for | ||
Dividend Allowance | £2,000 |
£2,000 |
Basic rate taxpayers | 7.5% | 7.5% |
Higher rate taxpayers | 32.5% | 32.5% |
Additional rate taxpayers | 38.1% | 38.1% |
Personal Allowances | ||
Basic Personal Allowance 1 | £12,500 | £11,850 |
Transferrable Marriage Allowance | £1,250 | £1,190 |
Married/civil partners (75 and over) 2 |
£8,915 |
£8,695 |
Notes | ||
1. Personal allowance is adjusted by £1 for every £2 of adjusted net income over £100,000 | ||
2. Where one spouse/civil partner born before 6 April 1935 |