Income Tax Rates and bands (other than savings and dividend income) 2023/24
2022/23
Band £
Rate % Band £
Rate %
0 - 37,700
20 0 - 37,700
20 40
37,701 - 125,140
40 37,701 - 150,000
Over 125,140 45 Income tax rates in Scotland and Wales on income other than savings and dividend income have been devolved. Savings income 2023/24 and 2022/23 Savings allowance basic rate £1,000 Savings allowance higher rate £500 A starting rate of 0% may be available unless taxable non-savings income exceeds £5,000. Dividend income 2023/24 2022/23 Dividend allowance £1,000 £2,000 Dividend ordinary rate 8.75% 8.75% Dividend upper rate 33.75% 33.75% Dividend additional rate 39.35% 39.35% Income Tax Reliefs 2023/24 2022/23 Personal allowance £12,570 £12,570 Personal allowance income limit £100,000 £100,000 Marriage allowance £1,260 £1,260 Married couple’s allowance £10,375 £9,415 - minimum amount £4,010 £3,640 - income limit £34,600 £31,400 Blind person’s allowance £2,870 £2,600 Individual Savings Accounts 2023/24 2022/23 Overall investment limit £20,000 £20,000 Junior account investment limit £9,000 £9,000 45 Over 150,000
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