Income Tax Tables

2016-2017  Income Tax Rates        
             
    Non savings income   Dividend Income
    Tax Rate  Income Bands £   Tax Rate Income Bands £
             
Basic Rate   20% Up to £32,000   7.5 % Up to £32,000
             
Higher Rate   40% £32,001 - £150,000   32.5% £32,001 - £150,000
             
Additional Rate   45% Over 150,000   38.1% Over 150,000
             
In addition to the above, there is an additional 0% tax band rate for up to £5,000 of savings income. This band applies in full to those taxpayers who have income (excluding dividend income) of £16,000 or less. 
             
2016-2017 Income Tax Allowances        
             
             
Personal Allowance    £11,000        

 

Personal Savings Allowance

 

 

  £1,000 for Basic Rate Taxpayers £500 for Higher Rate Taxpayers      
Dividend Allowance    £5,000        

 

 

 

For those with income exceeding the limits above, the personal allowance is reduced at the rate of £1 for every £2 exceeding £100,000.