Income Tax Rates and Allowances

Income Tax Rates

2014/2015 2015/2016
Basic Rate 20% 20%
Higher Rate 40% 40%
Additional Rate 45% 45%
Dividend Ordinary Rate 10% 10%
Dividend Upper Rate 32.5% 32.5%
Dividend Additional Rate 37.5% 37.5%




Income Tax Allowances and Bands

Personal Allowance £10000 £10600
Basic Rates Band* £0-£31865 £0-£31785
Higher Rate Band* £31866-£150000 £31786-£150000
Additional Rate Band* over £150000 over £150000
*these bands apply after the personal allowance is reached

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