Read details of the individual tax rates for the year 2018/19.
Income Tax |
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| Personal Allowance | £11,850 | |
| Personal savings allowance for basic rate taxpayers | £1,000 | |
| Personal savings allowance for higher rate taxpayers | £500 | |
| Dividend allowance | £2,000 | |
Rates (on top of Allowances) |
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| 20% | Basic rate up to | £34,500 |
| 40% | Higher rate | £34,500 – £150,000 |
| Additional rate on inc over £150,000 | 45% | |
Corporation Tax |
19% | |
Inheritance Tax |
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| Standard Rate | Up to £325,000 | NIL |
| Over £325,000 | 40% | |
| Residential Property Nil Rate Band | £125,000 | |
Capital Gains Tax |
Individuals |
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| Allowance | £11,700 | 0% |
| Income up to £34,500 | 10%* or 18%** | |
| Income over £34,501 | 20%* or 28%** | |
| * The lower rate applies if shares or unit trusts are being sold. | ** The higher rate applies for property, land and other assets. | |
ISA Allowances |
£20,000 | |
| Junior ISA | £4,260 | |
Pension Allowances |
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| Income tax relief on £3,600 or up to taxable earnings | ||
| Annual Allowance | £40,000 | |
| Lifetime Allowance | £1,030,000 | |
Stamp Duty |
On Property Purchase | |
| Between these values | Over £125,001 – £250,000 | 2% |
| Over £250,000 – £925,000 | 5% | |
| Over £925,000 – £1,500,000 | 10% | |
| Over £1,500,000 | 12% | |
| An additional rate above these is payable on buy-to-let/ additional properties | 3% |
Tax Rates 2018/19