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61 Friar Gate  Derby  DE1 1DJ

Registered office: 61 Friar Gate, Derby, Derbyshire, DE1 1DJ

Adrian Mooy & Co is the trading name of Adrian Mooy & Co Ltd.  Registered in England No. 05770414

Registered to carry out audit work by the Association of Chartered Certified Accountants - auditregister.org.uk 8011438

Rates & Allowances Pages ► Income Tax Rates & AllowancesCapitlal Gains TaxPensions

Income after allowances 2019/20

Band of taxable income Rate Dividend rate
Starting rate for savings
up to £5,000 0%
Basic rate up to £37,500 20% 7.5%
Higher rate £37,501 - £150,000 40% 32.5%
Additional rate Over £150,000 45% 38.1%

Personal Allowance - The standard Personal Allowance for 2019/20 is £12,500. This is the amount of income you don’t have to pay tax on.

Main Allowances
2019/20
Personal Allowance* - up to 10% of the PA can be transferred to a spouse or civil partner who is a basic rate taxpayer £12,500
Blind Person's Allowance £ 2,450
Dividend Tax Allowance - taxes the first £2,000 at nil £ 2,000
Personal Savings Allowance - Basic rate taxpayer £ 1,000
Personal Savings Allowance - Higher rate taxpayer £ 500
  •  Income Tax - Click for Detailed Table

    Tax bands and rates 2019/20 2018/19
    Basic-rate band £37,500 £34,500
    Basic-rate tax 20% 20%
    Dividend ordinary tax rate 7.5% 7.5%
    Savings starting rate band limit* £5,000 £5,000
    Savings starting rate - savings income 0% 0%
    Higher-rate band Over £37,500 - £150,000 Over £34,500 - £150,000
    Higher-rate tax 40% 40%
    Dividend upper tax rate 32.5% 32.5%
    Additional-rate band over Above £150,000 Above £150,000
    Additional-rate tax 45% 45%
    Dividend additional tax rate 38.1% 38.1%
    Personal allowance** £12,500 £11,850
    High income child benefit charge - 1% of adjusted net income of £50,000 to £60,000
    Trading allowance*** £1,000 £1,000
    Dividend allowance at 0% - all individuals £2,000 £2,000
    Property allowance*** £1,000 £1,000
    Savings allowance**** £1,000 £1,000
    Marriage allowance £1,250 £1,190
    Blind person's allowance £2,450 £2,390
    Non-domiciled remittance basis charge
    Applies after UK residence in seven or more of the previous nine tax years £30,000 £30,000
    Applies after UK residence in at least 12 of the previous 14 years £60,000 £60,000
    Enterprise investment scheme (EIS)***** up to £1m £1m
    Maximum amount for EIS carry back £50,000 £50,000
    Income tax relief rate 30% 30%
    Seed enterprise investment scheme (SEIS) £100,000 £100,000
    Income tax relief 50% 50%
    Venture capital trust (VCT)***** £200,000 £200,000
    Social investment relief £1m £1m
    Income tax relief 30% 30%
    VCT tax relief rate 30% 30%
    Golden handshake maximum tax-free £30,000 £30,000
    Rent-a-room (exempt on gross annual rent up to) £7,500 £7,500
    Construction industry scheme - deduction rate
    Standard rate - registered 20% 20%
    Higher rate - not registered 30% 30%
    Child benefit charge - 1% of benefit per £100 of income between £50,000 and £60,000

    * Savings income falling into the first £5,000 may be taxed at 0% for certain low income earners.

     

    ** Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000.

     

    *** When the gross income is £1,000 or less. May alternatively be deducted from gross income instead of the actual expenses.

     

    **** £500 for higher-rate and £0 for additional-rate taxpayers.

     

    ***** Investment limit increases for investment in knowledge-intensive companies receiving investments under the EIS and VCTs rules. The annual limit for individuals investing in knowledge-intensive companies under the EIS increases to £2 million, provided that anything above £1 million is invested in knowledge-intensive companies. The annual EIS and VCT limit on the amount of tax-advantaged investments a knowledge-intensive company may receive is increased to £10 million.