Income Tax Bands & Tax Rates of Taxable Income

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018 - 19 Main Rates
Basic Rate £11001 - 32,000 £11501 - 33,500 £1,851 - 46,350 20%
Higher Rate £32,001-150,000 £33,500-150,000 234 40%
Additional Rate Over £150,000 Over £150,000 234 45%

Dividend Rates

Dividend ordinary rate – for dividend otherwise taxable at the basic rate – 7.5%
Dividend upper rate – for dividends otherwise taxable at the higher rate – 32.5%
Dividend additional rate – for dividends otherwise otherwise taxable – 38.1%

 

Income Tax Allowances 

Personal Allowances 

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Personal Allowance £11,000 £11,500 £11850
Income limit for personal allowance £100,000 £100,000 £100,000

Marriage Allowance

Class 1 NICs: Employee and employer rates and thresholds (£ per week)

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018 - 19
Income limit Married Couple's Allowances £27,700 £28,000 £46,350
Marriage Allowance £1,100 £1,150 £1,190
Maximum amount of married couples allowance £8,355 £8,445 £8,445
Minimum amount of married couple's allowance £3,220 £3,260 £3,260

Blind Persons Allowance

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018 - 2019
Blind Person's Allowance £2,290 £2,320 £2,390

Dividend Allowance

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Dividend Allowance £5,000 £5,000 £2,000

Personal Saving Allowance

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Personal savings allowance for basic rate taxpayers £1,000 £1,000 £1,000
Personal savings allowance for basic rate taxpayers £500 £500 £500

National Insurance Contributions (NIC)

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Weekly Lower Earnings Limit (LEL) 112 113 116
Weekly Primary Threshhold (PT) 155 157 162
Weekly Secondary Threshold (ST) 156 157 162
Upper Earnings Limit (UEL) 827 866 892
Upper Secondary Threshold for under 21s 827 866 892
Apprentice Upper Secondary Threshold (AUST) for under 25s 827 866 866
Employment Allowance (per employer) 3,000 per year 3,000 per year 3,000 per year
Employee's (primary) Class 1 contribution rates Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2019-19
Earnings band NIC rate (per cent) NIC rate (per cent) NIC rate (per cent)
Below LEL 0 0 0
LEL - PT 0 0 0
PT - UEL 12 12 12
Above EUL 2 2 2
Employee's (secondary) Class 1 contribution rates Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Earnings band
Below ST 0 0 0
Above ST 13.8 13.8 13.8
Employer's (Secondary) Class 1 contribution rates for employees under 21 Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2017-18
Earnings band
Below UST 0 0 0
Above UST 13.8 13.8 13.8
Employer's (Secondary) Class 1 contribution rates for Apprentices under 25 Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Earnings band
Below AUST 0 0 0
Above AUST 13.8 13.8 13.8

Class 2 NICs: Self-employed rates and thresholds (£ per week)

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Small Profits Threshold (SPT) 5,965 per year 6,025 per year 6,205 per year
Class 2 contribution rates Tax year 2016-17 Tax year 2017-18
Annual Profits (£ a year) £ per week £ per week
Below SPT 0 0
Above SPT 2.80 2.85
Special Class 2 rate for share fishermen 3.45 3.50
Special Class 2 rate for volunteer development workers 5.60 5.65

Class 4 NICs: Self-employed rates and thresholds (£ per year)

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Lower Profits Limit (LPL) 8,060 8,164 8,424
Upper Profits Limit (UPL) 43,000 45,000 46,350

Working and Child tax credits, child benefit and guardians allowance

Working and child tax credits

£ per year (unless stated) Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Basic element £1,960 £1,960 £1,960
Couple and lone parent element £2,010 £2,010 £2,010
30 hour element £810 £810 £810
Disabled worker element £2,970 £3,000 £3,090
Servere disability element £1,275 £1,290 £1,330
Childcare element of the working tax credit
Maximum eligible cost for one child £175 per week 175 per week 175 per week
Percentage of eligible costs covered 70% 70% 70%
Child tax credit
Family element £545 £545 £545
Child element £2,780 £2,780 £2,780
Disabled child element £3,140 £3,175 £3,275
Severely disabled child element £1,275 £1,290 £1,325

Child benefit (£ per week)

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Eldest/only child £20.70 £20.70 £20.70
Other children £13.70 £13.70 £13.70
Guardians allowance £16.55 £16.70 £17.20

Tax free savings accounts

Tax Year 2016 - 17 Tax Year 2017-18 Tax Year 2018-19
Individual Savings Account (ISA) subscription limit £15,240 £20,000 £20,000
Junior ISA subscription limit £4,080 £4,128 £4,260
Child Trust Fund (CTF) subscription limit £4,080 £4,128 £4,260