Tax treatment varies according to individual circumstances and is subject to change.
Income Tax Rates and Allowances
|Income Tax allowances||2017-18||2018-19|
|Personal reduced by £1 for every £2 of net income over||£100,000||£100,000|
|Transferable tax allowance for married couples/civil partners||£1,150||£1,185|
|Blind Person's Allowance||£2,320||£2,390|
|Married couples/civil partner at 10% - minimum (1)||£3,260||£3,360|
|Married couples/civil partner at 10% - maximum (1,2)||£8,445||£8,695|
|Rent-a-room tax-free income||£7,500||£7,500|
(1) Where at least one spouse/civil partner was born before 6/4/35.
(2) Reduced by £1 for every £2 of income over £28,900 (£28,000 for 2017/18) until the minimum is reached.
Personal Allowances and Tax Bands
|Basic rate of 20% on income up to:||£33,500||£34,500|
|Higher rate of 40% on income over:||£33,500||£34,500|
|Additional rate of 45% on income over:||£150,000||£150,000|
|Year||Personal Allowance||Higher Rate Tax Band|
|2017-2018||£11,500||£33,500 (+£11,500 = £45,000)|
|2018-2019||£11,850||£34,500 (+£11,850 = £46,350)|
|Starting rate at 0% on savings income up to (3)||£5,000||£5,000|
|Savings allowance at 0% tax|
|Basic rate taxpayers||£1,000||£1,000|
|Higher rate taxpayers||£500||£500|
|Additional rate taxpayers||£0||£0|
|Dividend allowance at 0% tax - all individuals||£5,000||£2,000|
|Tax rate on dividend income:|
|Basic rate taxpayers||7.5%||7.5%|
|Higher rate taxpayers||32.5%||32.5%|
|Additional rate taxpayers||38.1%||38.1%|
(3) Not available if taxable non-savings income exceeds the starting rate band.
Note: These tables are provided for guidance only.