Main Income Tax Rates 2018/2019

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UK INCOME TAX BANDS 2018/2019

(excluding Scotland)

  • 20% basic rate on income up to £34,500: tax on band £6,900
  • 40% higher rate on income over £34,500 to £150,000: tax on band £46,200
  • Additional rate of 45% on income over £150,000
  • Savings rate of 0% on savings income up to £5,000
    (not available if taxable non-savins income exceeds the starting rate band)
  • Savings allowance at 0% tax:
    Basic rate taxpayers £1,000
    Higher rate taxpayers £500
    Additional rate taxpayers £0
  • Dividend allowance at 0% tax – all individuals £2,000
    Tax rate on dividend income:
  • Basic rate taxpayers £7.5%
  • Higher rate taxpayers 32.5%
  • Additional rate taxpayers 38.1%

MAIN PERSONAL ALLOWANCES

  • Personal (basic) £11,850
    The personal allowance of £11,850 is reduced by £1 for every £2 by which income exceeds £100,000
  • Married couple’s allowance (available where one partner is born before 6 April 1935) £8,695
  • Marriage tax allowance £1,185
  • Blind person’s allowance £2,390
  • Rent-a-room tax-free income £7,500

MAIN DUE DATES FOR TAX PAYMENT

  • Income tax, NIC and Capital Gains Tax  – Self Assessment:
    31 January in tax year
    Following 31 July
    Following 31 January

If you’d like to keep a copy of the above information, here is a link to download the PDF: Main Income Tax Rates 2018_2019