Stephen J. Dann
~ ITPA ~
UK Tax Advisor

British Tax rates
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Personal Income Tax
2023/24
2024/25
Personal Allowance
£ 12,570
£ 12,570
Personal Allowance income limit
£ 100,000
£ 100,000
Savings Starting Rate
£ 5,000
£ 5,000
Dividend Allowance
£ 1,000
£ 500

Annual Pension Allowance
£ 60,000
£ 60,000
Basic Rate
20% - up to £50,270
20% - up to £50,270
Higher Rate tax (tier 1)
40% £ 50,271 - 125,140
40% £ 50,271 - 125,140
Higher Rate tax (tier 2)
45% above £ 125,140
45% above £ 125,140


National Insurance Contributions
2023/24
2024/25
Employee Rate
10% up to £967 (2% above this level)
8% up to £967 (2% above this level)
Lower Earnings Limit
£ 123 pw
£ 123 pw
Earnings threshold (PT)
£ 242 pw
£ 242 pw
Employer Rate above PT
13.8%
13.8%
Class 2 (expatriates)
£ 3.45 pw
£ 3.45 pw
More detailed information from HMRC

Stephen Dann tax home page


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