Income Tax
Rates and bands (other than savings and dividend income) 2020/21 2019/20 Band £ Rate % Band £ 45 Income tax rates in Scotland and Wales on income other than savings and dividend income have been devolved. Savings income 2020/21 and 2019/20 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 2020/21 and 2019/20 Dividend allowance £2,000 Dividend ordinary rate 7.5% Dividend upper rate 32.5% Dividend additional rate 38.1% Rate % 0 - 37,500 37,501 - 150,000 Over 150,000 20 40 45 0 - 37,500 37,501 - 150,000 Over 150,000 20 40
Income Tax Reliefs
2020/21 2019/20 £100,000 £100,000
Personal allowance Personal allowance income limit Marriage allowance Married couple’s allowance
£12,500 £1,250 £9,075 £3,510 £30,200 £2,500
£12,500 £1,250 £8,915 £3,450 £29,600 £2,450
- minimum amount - income limit
Blind person’s allowance
Individual Savings Accounts
2020/21 2019/20
Overall investment limit Junior account investment limit
£20,000 £9,000
£20,000 £4,368
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