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Income Tax Rates
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Income Tax Rates
|
Income Tax bands of taxable income |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Basic rate | £1 to £37,700 | £1 to £37,700 | £1 to £37,700 | £1 to £37,700 |
| Higher rate | £37,701 to £125,140 | £37,701 to £125,140 | £37,701 to £125,140 | £37,701 to £125,140 |
| Additional rate | £125,401 + | £125,401 + | £125,401 + | £125,401 + |
|
Making Tax Digital Threshold |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Total of turnover and gross property income | 20,000 | 20,000 | 30,000 | 50,000 |
| Date of registration (future periods are ignored if threshold exceeded) | 06-Apr-29 | 06-Apr-28 | 06-Apr-27 | 06-Apr-26 |
|
Starting rate for savings income |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Starting rate limit for savings | £5,000 | £5,000 | £5,000 | £5,000 |
|
Employment and pension rates |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Basic rate | 20% | 20% | 20% | 20% |
| Higher rate | 40% | 40% | 40% | 40% |
| Additional rate | 45% | 45% | 45% | 45% |
|
Property rates |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Basic rate | 24% | 20% | 20% | 20% |
| Higher rate | 44% | 40% | 40% | 40% |
| Additional rate | 49% | 45% | 45% | 45% |
|
Savings rates |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Starting rate for savings | 0% | 0% | 0% | 0% |
| Basic rate | 24% | 20% | 20% | 20% |
| Higher rate | 44% | 40% | 40% | 40% |
| Additional rate | 49% | 45% | 45% | 45% |
|
Dividend rates |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Basic rate | 10.75% | 10.75% | 8.75% | 8.75% |
| Higher rate | 35.75% | 35.75% | 33.75% | 33.75% |
| Additional rate | 39.35% | 39.35% | 39.35% | 39.35% |
|
Income Tax rates for trustees' income |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| De minimis trusts amount threshold | £500 | £500 | £500 | £500 |
| Dividend ordinary rate | 10.75% | 10.75% | 8.75% | 8.75% |
| Property basic rate | 24.00% | 20.00% | 20.00% | 20.00% |
| Savings basic rate | 24.00% | 20.00% | 20.00% | 20.00% |
| Default basic rate | 20.00% | 20.00% | 20.00% | 20.00% |
| Dividend trust rate for accumulated and discretionary dividend income | 39.35% | 39.35% | 39.35% | 39.35% |
| Property trust rate for accumulated and discretionary property income | 49.00% | 45.00% | 45.00% | 45.00% |
| Savings trust rate for accumulated and discretionary savings income | 49.00% | 45.00% | 45.00% | 45.00% |
| Trust rate for other accumulated and discretionary income | 45.00% | 45.00% | 45.00% | 45.00% |
|
Default rates (for income not included elsewhere) |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Basic rate | 20% | 20% | 20% | 20% |
| Higher rate | 40% | 40% | 40% | 40% |
| Additional rate | 45% | 45% | 45% | 45% |
Personal allowance |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Basic allowance | £12,570 | £12,570 | £12,570 | £12,570 |
| Income limit for personal allowance | £100,000 | £100,000 | £100,000 | £100,000 |
Marriage and civil partnership allowances |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Marriage allowance transferable tax limit (born on or after 6 April 1935 | £1,260 | £1,260 | £1,260 | £1,260 |
| Married couples allowance maximum (born before 6 April 1935) | £11,700 | £11,700 | £11,270 | £11,080 |
| Married couples allowance minimum (born before 6 April 1935) | £4,530 | £4,530 | £4,360 | £4,280 |
| Income limit for married couples allowance (born before 6 April 1935) | £39,200 | £39,200 | £37,700 | £37,000 |
Personal savings allowance |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| 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 |
Other income tax allowances |
2027/28 |
2026/27 |
2025/26 |
2024/25 |
| Blind person's allowance | £3,250 | £3,250 | £3,130 | £3,070 |
| Dividend allowance | £500 | £500 | £500 | £500 |
| Rent-a-room tax free home income (restricted to 50% if letting jointly) | £7,500 | £7,500 | £7,500 | £7,500 |
| Pre-owned assets de-minimis | £5,000 | £5,000 | £5,000 | £5,000 |
