On this page you will find below details of the most common types of tax rates, bands and allowances for the 2018/19 and 2019/20 tax years. If the particular type of tax you are interested in is not covered by the information given below please contact us and we will try to help. On certain internet browsers the figures shown in the table may not be aligned to the column headings. If you are experiencing this problem and are having difficulty in reading the table as a result please try again using a different browser.
Please note that since 6 April 2018 separate rates of Income Tax apply in Scotland. These are not shown below. If you would like more information about this please contact us.
Income Tax – Allowances |
2018/19 | 2019/20 |
| Personal Allowance | £11,850 | £12,500 |
| Minimum Married Couples Allowance – people born before 6 April 1935 | £3,360 | £3,450 |
| Maximum Married Couples Allowance – people born before 6 April 1935 | £8,695 | £8,915 |
| Income Limit for Personal Allowances | £100,000 | £100,000 |
| Blind Persons Allowance | £2,390 | £2,450 |
| Marriage Allowance | £1,190 | £1,250 |
| Dividend Allowance | £2,000 | £2,000 |
| Savings Allowance (Basic Rate Taxpayers) | £1,000 | £1,000 |
| Savings Allowance (Higher Rate Taxpayers) | £500 | £500 |
Income Tax – Rates and Bands |
2018/19 | 2019/20 |
| Basic Rate | 20% | 20% |
| Higher Rate | 40% | 40% |
| Additional Rate | 45% | 45% |
| Upper Limit for Basic Rate | £46,350 | £50,000 |
| Upper Limit for Higher Rate | £150,000 | £150,000 |
National Insurance – Employees and Employers |
2018/19 | 2019/20 |
| Weekly Lower Earnings Limit (LEL) | £116 | £118 |
| Employers Threshold (ERT) | £162 | £166 |
| Employees Threshold (EET) | £162 | £166 |
| Upper Earnings Limit (UEL) | £892 | £962 |
| Employer Rate – Below ERT | 0.0% | 0.0% |
| Employer Rate – Above ERT | 13.8% | 13.8% |
| Employee Rate – Below EET | 0.0% | 0.0% |
| Employee Rate – EET to UEL | 12.0% | 12.0% |
| Employee Rate – Above UEL | 2.0% | 2.0% |
National Insurance – Self Employed |
2018/19 | 2019/20 |
| Weekly Class 2 Contribution Rate | £2.95 | £3.00 |
| Class 2 Small Earnings Exception per year | £6,205 | £6,365 |
| Class 4 Lower Profits Limit (LPL) | £8,424 | £8,632 |
| Class 4 Upper Profits Limit (UPL) | £46,350 | £50,000 |
| Class 4 Rate LPL to UPL | 9.0% | 9.0% |
| Class 4 Rate above UPL | 2.0% | 2.0% |
Capital Gains and Property |
2018/19 | 2019/20 |
| Capital Gains Annual Allowance | £11,700 | £12,000 |
| Capital Gains Tax Rate for Basic Rate Taxpayers | 18.0% | 18.0% |
| Capital Gains Tax Rate for Higher Rate Taxpayers | 28.0% | 28.0% |
| Rent a Room Allowance | £7,500 | £7,500 |
Business Taxes |
2018/19 | 2019/20 |
| Value Added Tax (VAT) Registration Threshold | £85,000 | £85,000 |
| Corporation Tax Rate for Small Companies | 19% | 19% |
