Personal tax and benefits
Income tax bands of taxable income (£ per year) Tax year
Income tax rates - 2016-17
Income tax rates - 2017-18
Starting rates for savings income
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Personal tax and benefits Income tax bands of taxable income (£ per year) Tax year 2016-17Tax year 2017-18 Basic rate£0-32,000£0-33,500 Higher rate£32,001-150,000£33,500-150,000 Additional rateOver £150,000 Over £150,000 Income tax rates - 2016-17 Tax year 2016-17 Main rates 1 Basic rate20% Higher rate40% Additional rate45% Dividend rates 2 Dividend ordinary rate - for dividends otherwise taxable at the basic rate7.5% Dividend upper rate - for dividends otherwise taxable at the higher rate32.5% Dividend additional rate - for dividends otherwise taxable at the additional rate38.1%1.3 Income tax rates - 2017-18 Main rates 3 Basic rate20% Higher rate40% Additional rate45% Savings rates 4 Starting rate for savings0% Savings basic rate20% Savings higher rate40% Savings additional rate45% Dividend rates 5 Dividend ordinary rate - for dividends otherwise taxable at the basic rate7.5% Dividend upper rate - for dividends otherwise taxable at the higher rate32.5% Dividend additional rate - for dividends otherwise taxable at the additional rate38.1% Default rates 6 Default basic rate20% Default higher rate40% Default additional rate45% Starting rates for savings income Tax year 2016-17Tax year 2017-18 Starting rate for savings0%0% Starting rate limit for savings£5,000£5,000 Special rates for trustees’ income Tax year 2016-17Tax year 2017-18 Standard rate on first £1,000 of income which would otherwise be taxable at the special rates for trusteesUp to 20%, depends on the type of incomeUp to 20%, depends on the type of income Trust rate45%45% Dividend trust rate38.1%38.1% Income tax allowances Tax year 2016-17Tax year 2017-18 Personal allowance Personal allowance 7£11,000£11,500 Income limit for personal allowance£100,000£100,000 Income limit for Married couple’s allowance 8£27,700£28,000 Marriage allowance Marriage allowance 9£1,100£1,150 Married couple’s allowance for those born before 6 April 1935 Maximum amount of married couple’s allowance 10£8,355£8,445 Minimum amount of married couple’s allowance 10£3,220£3,260 Blind person’s allowance Blind person’s allowance£2,290£2,320 Dividend allowance Dividend allowance 11£5,000£5,000 Personal savings allowance Personal savings allowance for basic rate taxpayers 12£1,000£1,000 Personal savings allowance for higher rate taxpayers 12£500£500 Special rates for trustees’ income
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