Read details of the individual tax rates for the year 2019/20.
|Personal savings allowance||for basic rate taxpayers||£1,000|
|Personal savings allowance||for higher rate taxpayers||£500|
|Dividend allowance||for all individuals||£2,000|
|(on top of allowances)|
|Basic rate up to||£37,500||20%|
|Higher rate||£37,500 – £150,000||40%|
|Additional rate||on inc over £150,000||45%|
|Standard Rate||Up to £325,000||NIL|
|Residential Property Nil Rate Band||£150,000|
Capital Gains Tax
|Income||up to £37,500||10%* or 18%**|
|Income||over £37,501||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.
|Contributions for Income Tax Relief||£3,600||or up to to taxable earnings to a maximum of….|
|… Annual Allowance||£40,000|
|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%|
|An additional rate above these is payable on buy-to-let/ additional properties||3%|
Tax Rates 2019/20