Personal Taxation

                                                                  2013-14 2014-15
Personal Allowance (basic) * £9,440  £10,000
Personal Allowance (65-74) ** £10,500 £10,500
Personal Allowance (75 & over) ** £10,660 £10,660
     
Income Tax Rates    
Starting Rate (10%) for Savings***                  £2,790 £2,880
Basic Rate (20%) Band £32,010 £31,865
Higher Rate (40%) Band £32,011 - £31,866 -
  £150,000 £150,000
Additional Rate (50% - 45% 2014/15) Band £150,001 + £150,001 +
     
Income Tax Rates - Dividends    
Basic Rate (20%) Band 10% 10%
Higher Rate (40%) Band 32.5% 32.5%
Additional Rate (50% - 45% 2014/15) Band 42.5% 37.5%
 

* Personal Allowance is reduced by 50% of income exceeeding £100,000.

** Age Related Reliefs reduced by 50% of income exceeding £26,100 (2013-14) and £27,000 (2014-15).

*** Not available if taxable non-savings income exceeds starting rate band.