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Tax Fact Sheets

Income Tax Rates

Income Tax - taxable bands	2020/21	2019/20	2018/19
Starting rate for savings: 0%	£0 -5,000	£0 -5,000	£0 -5,000
Basic rate: 20%	£0 -37,500	£0 -37,500	£0 -34,500
Higher rate: 40%	£37,501 -150,000	£37,500 -150,000	£34,501 -150,000
Additional Rate: 45%	£150,000 +	£150,000 +	£150,000 +

Savings Allowance
Basic Rate	£1000	£1000	£1000
Higher Rate	£500	£500	£500
Additional Rate	£-	£-	£-

Dividends (effective rate)
Personal dividend allowance - first £2,000 of dividends	0%	0%	0%
Basic rate taxpayers	7.5%	7.5%	7.5%
Higher rate taxpayers	32.5%	32.5%	32.5%
Additional rate taxpayers 45%	38.1%	38.1%	38.1%

Pre-owned assets tax (£5,000 taxable threshold)	As income	As income	As income

Discretionary and Relevant Property Trusts*
Standard rate band	1,000	1,000	1,000
Dividends (rate applicable to trusts - RAT)	38.1%	38.1%	38.1%
Other income (rate applicable to trusts - RAT)	45%	45%	45%


Interest In Possession Trusts
UK Dividends	7.5%	7.5%	7.5%
Savings, rent and trading	20%	20%	20%