Tax treatment varies according to individual circumstances and is subject to change.
Income Tax Rates and Allowances
|Income Tax allowances||2017-18||2018-19|
|Personal reduced by £1 for every £2 of net income over||£100,000||£100,000|
|Transferable tax allowance for married couples/civil partners||£1,150||£1,190|
|Blind Person's Allowance||£2,320||£2,390|
|Married couples/civil partner at 10% - minimum (1)||£3,260||£3,360|
|Married couples/civil partner at 10% - maximum (1,2)||£8,445||£8,695|
|Rent-a-room tax-free income||£7,500||£7,500|
(1) Where at least one spouse/civil partner was born before 6/4/35.
(2) Reduced by £1 for every £2 of income over £28,900 (£28,000 for 2017/18) until the minimum is reached.
Personal Allowances and Tax Bands
|Basic rate of 20% on taxable income up to:||£33,500||£34,500|
|Higher rate of 40% on taxable income over:||£33,500||£34,500|
|Additional rate of 45% on taxable income over:||£150,000||£150,000|
|Year||Personal Allowance||Higher Rate Tax Band|
|2017-2018||£11,500||£33,500 (+£11,500 = £45,000)|
|2018-2019||£11,850||£34,500 (+£11,850 = £46,350)|
Savings & Dividend Taxation
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|
|Higher rate taxpayers||£500||£500|
|Additional rate taxpayers||£0||£0|
|Dividend allowance at 0% tax - all individuals
Tax rate on dividend income in excess of allowance:
|Tax rate on dividend income:|
|Basic rate taxpayers||7.5%||7.5%|
|Higher rate taxpayers||32.5%||32.5%|
|Additional rate taxpayers||38.1%||38.1%|
Note: These tables are provided for guidance only.
TAX ADVICE WHICH CONTAINS NO INVESTMENT ELEMENT IS NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
Henson Crisp Limited
Telephone: 01733 355120 / 02036 377140
Peterscourt, City Road, Peterborough, Cambs, PE1 1SA. Registered in England, No. 06266686
Offices in both Peterborough and London.
Financial Advice for individuals and companies.
No investment decision should be taken based on the content of this site. Always take full individual advice first.
Henson Crisp Limited cannot be held responsible for the accuracy of the content of external websites.The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.
Henson Crisp provides Independent Financial Advice.
Henson Crisp Limited is authorised and regulated by the Financial Conduct Authority (register.fca.org.uk/). Financial Services Register No: 469175
Our alternative dispute resolution provider is the Financial Ombudsman Service.
Their website is financial-ombudsman.org.uk