Read details of the individual tax rates for the year 2019/20.

 

Income Tax

Personal allowance £12,500
Personal savings allowance for basic rate taxpayers  £1,000
Personal savings allowance for higher rate taxpayers  £500
Dividend allowance for all individuals  £2,000

Rates

(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%

Corporation Tax

 19%

Inheritance Tax

Standard Rate Up to £325,000 NIL
Over £325,000 40%
Residential Property Nil Rate Band £150,000

Capital Gains Tax

Individuals
Allowance £12,000 0%
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.

ISA Allowances

Individual ISA £20,000
Junior ISA £4,368

Pension Allowances

Contributions for Income Tax Relief £3,600 or up to to taxable earnings to a maximum of….
… Annual Allowance £40,000
Lifetime Allowance
(fund size)
£1,055,000

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 2019/20

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