Tax Rates & Allowances 2015/16

Income Tax Rates

2015/16

2014/15

Band £ Rate % Band £ Rate %
0 - 5,000 0* 0 - 2,880 10*
0 - 31,785 20** 0 - 31,865 20**
31,786 - 150,000 40*** 31,866 - 150,000 40***
Over 150,000 45**** Over 150,000 45****

*Only applicable to savings income. The rate is not available if taxable non-savings income exceeds £5,000 (£2,880).
** Except dividends (10%).
*** Except dividends (32.5%).
**** Except dividends (37.5%).
Other income taxed first, then savings income and finally dividends.