Tax Tools

Income Tax Rates

2016/17

2017/18

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

*Only applicable to savings income. The rate is not available if taxable non-savings income exceeds £5,000. For 2017/18, £1,000 of savings income for basic rate taxpayers (£500 for higher rate) may be tax free.
** Except dividends 7.5% (0%).
*** Except dividends 32.5% (255%).
**** Except dividends 38.1% (30.6%).
Other income taxed first, then savings income and finally dividends. For 2017/18 the first £5,000 of dividends are tax free.





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