Tax Rates & Allowances 2014/15

Income Tax Rates

2014/15

2013/14

Band £ Rate % Band £ Rate %
0 - 2,880 10* 0 - 2,790 10*
0 - 31,865 20** 0 - 32,010 20**
31,866 - 150,000 40*** 32,011 - 150,000 40***
Over 150,000 45**** Over 150,000 45****

*Only applicable to dividends and savings income. The 10% rate is not available if taxable non-savings income exceeds £2,880 (£2,790).
** Except dividends (10%).
*** Except dividends (32.5%).
**** Except dividends (37.5%).
Other income taxed first, then savings income and finally dividends.