| Income Tax Rates and Allowances | ||||
| Income Tax allowances | 2021-22 | 2020-21 | 2019-20 | 2018-19 |
| Personal Allowance | £12,570 | £12,500 | £12,500 | £11,850 |
| Personal Allowance reduced by £1 for every £2 of net income over | £100,000 | £100,000 | £100,000 | £100,000 |
| Transferable tax allowance for married couples/civil partners | ||||
| requires one partner to have income below personal allowance | £1,260 | £1,250 | £1,250 | £1,190 |
| Blind Person's Allowance | £2,520 | £2,500 | £2,450 | £2,390 |
| Married couples/civil partner at 10% - minimum (1) | £3,530 | £3,510 | £3,450 | £3,360 |
| Married couples/civil partner at 10% - maximum (1,2) | £9,125 | £9,075 | £8,915 | £8,695 |
| £30,400 | £30,200 | £28,600 | 28900 | |
| Rent-a-room tax-free income | £7,500 | £7,500 | £7,500 | £7,500 |
| (1) Where at least one spouse/civil partner was born before 6/4/35. | ||||
| Personal Allowances and Tax Bands | ||||
| 2021-22 | 2020-21 | 2019-20 | 2018-19 | |
| Basic rate of 20% on taxable income up to: | £37,770 | £37,500 | £37,500 | £34,500 |
| Higher rate of 40% on taxable income over: | £37,770 | £37,500 | £37,500 | £34,500 |
| Additional rate of 45% on taxable income over: | £150,000 | £150,000 | £150,000 | £150,000 |
| Savings & Dividend Taxation | ||||
| 2021-22 | 2020-21 | 2019-20 | 2018-19 | |
| Savings rates | £5,000 | £5,000 | £5,000 | £5,000 |
| Starting rate at 0% on savings income up to | ||||
| Reduced by £1 for every £1 of income above Personal Allowance | ||||
| Personal Savings Allowance at 0% tax on interest received | ||||
| Depends on income tax band of other income. | ||||
| Basic rate taxpayers | £1,000 | £1,000 | £1,000 | £1,000 |
| Higher rate taxpayers | £500 | £500 | £500 | £500 |
| Additional rate taxpayers | £0 | £0 | £0 | £0 |
| Dividend allowance at 0% tax - all individuals | £2,000 | £2,000 | £2,000 | £2,000 |
| Tax rate on dividend income in excess of allowance: | ||||
| Tax rate on dividend income: | ||||
| Basic rate taxpayers | 7.5% | 7.5% | 7.50% | 7.50% |
| Higher rate taxpayers | 32.5% | 32.5% | 32.50% | 32.50% |
| Additional rate taxpayers | 38.1% | 38.1% | 38.10% | 38.10% |
| Rates for Capital Gains Tax | ||||
| 2021-22 | 2020-21 | 2019-20 | 2018-19 | |
| Annual allowance | ||||
| Annual Exemption Amount (Individuals) | £12,300 | £12,300 | £12,000 | £11,700 |
| Annual Exemption Amount (Other Trustees) | £6,150 | £6,150 | £6,000 | £5,850 |
| Rates - excluding residential property | ||||
| Tax Rate (tax payers below higher rate) | 10% | 10% | 10% | 10% |
| Tax Rate (within UK higher and additional tax rate) | 20% | 20% | 20% | 20% |
| Rates - residential property | ||||
| Tax Rate (tax payers below higher rate) | 18% | 18% | 18% | 18% |
| Tax Rate (within UK higher and additional tax rate) | 28% | 28% | 28% | 28% |
| Allowances for Savings and Investments | ||||
| 2021-22 | 2020-21 | 2019-20 | 2018-19 | |
| ISA subscription annual limit | £20,000 | £20,000 | £20,000 | £20,000 |
| Junior ISA and Child Trust Fund annual limit | £9,000 | £9,000 | £4,368 | £4,260 |
| Lifetime ISA | £4,000 | £4,000 | £4,000 | £4,000 |
| Allowances for Pensions | ||||
| 2021-22 | 2020-21 | 2019-20 | 2018-19 | |
| Maximum Annual Contribution Allowance | £40,000 | £40,000 | £40,000 | £40,000 |
| Manimum Annual Contribution Allowance | £4,000 | £4,000 | £4,000 | £4,000 |
| Threshold Income lImit | £240,000 | £240,000 | £150,000 | £150,000 |
| Pension Lifetime Allowance | £1,073,100 | £1,073,100 | ||
| Allowances for Inheritances | ||||
| 2021-22 | 2020-21 | 2019-20 | 2018-19 | |
| Inheritance Tax Nil Rate Band | £325,000 | £325,000 | £325,000 | £325,000 |
| Residence Nil Rate Band | £175,000 | £175,000 | £150,000 | £125,000 |
| Residence Nil Rate Band taper commences at | £2,000,000 | £2,000,000 | £2,000,000 | £2,000,000 |
| Tax rate on death | 40% | 40% | 40% | 40% |
| Tax rate in lifetime | 20% | 20% | 20% | 20% |
Deloite is a trusted large accountancy practice and an authoritative source for tax tables.
Alternatively, check The Chartered Institute of Taxation's tax tables.
NB - These tables are provided for guidance only. No responsibility can be accepted for any information provided in the external linked resources provided here. Seek financial advice before taking any action.
Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.
Tax planning guidance is not an activity regulated by the Financial Conduct Authority.