Factsheets and Online Resource

Income Tax Rates

2017/18

 

2016/17

Band (£) Rate (%)   Band (£) Rate (%)
0 - 5,000 0*   0 - 5,000 0*
0 - 33,500+ 20**   0 - 32,000 20**
33,501+ - 150,000 40***   32,001 - 150,000 40***
Over 150,000 45****   Over 150,000 45****

+ For Scottish taxpayers only the limit is £31,500.

* Only applicable to savings income. This rate is not available if taxable non-savings income exceeds £5,000. £1,000 of savings income for basic rate taxpayers (£500 for higher rate) may be tax free.

** Except dividends 7.5%.

*** Except dividends 32.5%.

**** Except dividends 38.1.

Other income taxed first, then savings income and finally dividends. The first £5,000 of dividends are tax free.