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Personal Taxation

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 Allowance £11,500 £11,850
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 £1,185
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

  2017-18 2018-19
Basic rate of 20% on income up to: £33,500 £34,500
Higher rate of 40% on income over: £33,500 £34,500
Additional rate of 45% on 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)

Dividend Taxation

  2017-18 2018-19
Starting rate at 0% on savings income up to (3) £5,000 £5,000
Savings allowance at 0% tax
Basic rate taxpayers £1,000 £1,000
Higher rate taxpayers £500 £500
Additional rate taxpayers £0 £0
Dividend allowance at 0% tax - all individuals £5,000 £2,000
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%

(3) Not available if taxable non-savings income exceeds the starting rate band.


Note: These tables are provided for guidance only.

TAX ADVICE WHICH CONTAINS NO INVESTMENT ELEMENT IS NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.