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MAIN INCOME TAX RATES AND ALLOWANCES |
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Main income tax allowances |
2013-2014 |
2014-2015 |
Personal allowance |
9,440 |
10,000 |
Personal allowance reduced by 50% if total
income exceeds |
100,000 |
100,000 |
Personal if born between 6/4/38 and 5/4/48 |
10,500 |
10,500 |
Personal if born before 6/4/38 |
10,660 |
10,660 |
Personal if born before 6/4/48 reduced by 50%
if income exceeds |
26,100 |
27,000 |
Married couples/civil partners (minimum) at
10%* |
3,040 |
3,140 |
Married couples/civil partners (maximum) at
10%* |
7,915 |
8,165 |
Blind person’s allowance |
2,160 |
2,230 |
* Where at least one spouse/civil partner was
born before 6 April 1935. |
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Income tax rates |
2013-2014 |
2014-2015 |
Starting rate of 10% on savings income up to* |
2,790 |
2,880 |
Basic rate of 20% on income up to |
32,010 |
31,865 |
Maximum tax at basic rate |
6,402 |
6,373 |
Higher rate of 40% on income |
150,000 |
150,000 |
Tax on first £150,000 |
53,598 |
53,627 |
Additional rate on income over £150,000 |
45% |
45% |
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Dividends for: |
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• basic rate taxpayers |
10% |
10% |
• higher rate taxpayers |
32.50% |
32.50% |
• additional rate taxpayers |
37.50% |
37.50% |
* Not available if taxable non-savings income
exceeds the starting rate band. |
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