View the standard Personal Allowance and the income level at which it is withdrawn.
See the basic, higher and additional rate bands for Income Tax.
Check the Personal Savings Allowance and Dividend Tax Allowance.
View the rates and income thresholds for the High Income Child Benefit Charge.
*Personal Allowance (PA) will be withdrawn at £1 for every £2 by which ‘adjusted income’ exceeds £100,000. There will therefore be no allowance given if adjusted income is £125,000 (2021/22: £125,000) or more.
†Up to 10% of the PA (2022/23: £1,260; 2021/22: £1,260) can be transferred to a spouse or civil partner who is no more than a basic rate taxpayer.
**Married Couple’s Allowance is reduced by £1 for every £2 by which adjusted income exceeds the income limit, down to a minimum of £3,640 (2021/22 £3,530)
§The DTA taxes the first £2,000 of dividend income at nil rather than the rate that would otherwise apply – see rates below. The Personal Savings Allowance (PSA) operates as a nil rate band for interest income.
The dividend rates were 7.5%, 32.5% and 38.1% in 2021/22.
General income (salary, pensions, business profits, rent) uses Personal Allowance, basic rate and higher rate bands before savings income (interest). To the extent that savings income falls in the first £5,000 of the basic rate band, it is taxed at nil rather than 20%. The PSA (see above) will tax interest at nil where it would otherwise be taxable at 20% or 40%.
Dividends are taxed as the ‘top slice’ of income.