Our website uses cookies to enhance the visitor experience (what's a cookieCookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.). Are you happy for us to use cookies during your visits?
Please note: continuing without making a choice equates to giving us your consent, which you can withdraw at any time via our cookies policy page.

Awarded by the Association of
Chartered Certified Accountants

Lime Books

Search

Income Tax Rates and Bands

01332 346241

Recent income tax rates and bands are as follows:

2017/18 2018/19 2019/20
Savings rate: 10%, 0% from 2015/16 0 - £5,000 0- £5,000 0- £5,000
Dividend Allowance: 0% 0- £5,000 0 - £2,000 0 - £2,000
Basic rate: 20% 0 - £33,500 0 - £34,500 0 - £37,500
Higher rate: 40% £33,501 - £150,000 £34,501 - £150,000 £37,501 - £150,000
Additional rate: 45% Over £150,000 Over £150,000 Over £150,000

When the personal allowance is taken into account an individual will start to pay tax at 40% when their total income exceeds £46,350 in 2018/19. This is expected to rise to £50,000 for 2018/19. This threshold (and the 45% threshold) can be increased if the taxpayer pays personal pension contributions or makes gift aid donations.

For 2017/18 the basic rate band on non-savings income for Scottish Taxpayers is set at £43,000. For all other income types it remains in line with the main UK band of £45,000.

Scottish Income Tax Rates and Bands for non-savings income

2018/19 2019/20
Starter rate: 19% Up to £2,000 Up to £2,050
Basic rate: 20% £2,001 to £12,150 £2,051 to £12,445
Intermediate rate: 21% £12,151 to £31,580 £12,446 to £30,930
Higher rate: 41% £31,581 - £150,000 £30,931 to £150,000
Additional rate: 46% Over £150,000 Over £150,000
LOOKING FOR A NEW
ACCOUNTANT?
LOOKING FOR A NEW ACCOUNTANT

All initial consultations are free of charge and all work is quoted on a fixed fee basis, so there are no hidden surprises. Please contact us for a free consultation.

-"phone"

DOWNLOAD OUR FREE
TAX APP