0330 133 1643
contact@balloonaccounting.co.uk
BH7 7BG, Bournemouth, UK

Income Tax Rates

with you on the journey to a brighter future

Income Tax Rates

If you are looking at Income Tax Rates and reviewing or planning your finances, please feel free to contact us. We can discuss your specific circumstances and tax efficient ways to legally minimise your Income Tax.

England – Please Contact us for Scottish Income Tax Rates
Rate2018/192019/20
Starting rate for savings: 0%*£0 – £5,000£0 – £5,000
Basic rate: 20%£0 – £34,500**£0-£37,500
Higher rate: 40%£34,501*** – £150,000£37,501-£150,000
Additional rate: 45%Over £150,001Over £150,001

*Prior to 6th April 2015, this rate was 10% and applied to savings income only.
** Scottish Taxpayers only the limit is £31,500.
*** Scottish Taxpayers, we are awaiting confirmation of 19/20 income tax rates.
If, after deducting your Personal Allowance from your total income liable to Income Tax, your non-savings income is above this limit then the starting rate for savings will not apply. Non-savings income includes income from employment, profits from self-employment, pensions, income from property and taxable benefits.

18/1919/20
Dividend ordinary rate – for dividends otherwise
taxable at the basic rate (effective rate with tax credit)
7.5%*7.5%
Dividend upper rate – for dividends otherwise
taxable at the higher rate (effective rate with tax credit)
32.5%*32.5%
Dividend additional rate – for dividends otherwise
taxable at the additional rate (effective rate with tax credit)
38.1%*38.1%

* The tax-free dividend allowance was reduced to £2,000 from 6 April 2018

Please contact us for further information.

Disclaimer: This Website / App and its contents have been produced as a helpful reference point. The information should be used as a guide only and your specific circumstances are best discussed directly with us.
No reliance should be placed on this material and no action should be taken without seeking the appropriate professional or legal advice. Although the authors make reasonable efforts to ensure the content of this Website / App is accurate and up-to-date, the authors make no representations, warranties or guarantees that the content is accurate, complete or up-to-date and accept no responsibility whatsoever for any loss occasioned by anyone acting on information within this Website / App.

Scroll Up