Tax rates 2018-19
The income tax rates and bands applicable for 2018-19 are:
|Starting rate for savings income||0%|
|Dividend ordinary rate||7.5%|
|Dividend upper rate||32.50%|
|Dividend additional rate||38.10%|
|Starting rate limit (savings income)||5,000|
|Basic rate band||0 – 34,500|
|Higher rate band||34,501 – 150,000|
|Additional rate band||Over 150,000|
1. The 0% starting rate for savings is not available for savings income if your taxable non-savings income exceed £5,000 (the starting rate limit).
2. Dividend income is reduced by the dividend tax credit.