|Savings starting rate – 0%*||£0 – £5,000||£0 – £5,000|
|Basic rate 20%||£0 – £32,000||£0 – £31,785|
|Higher rate 40%||£32,001 – £150,000||£31,786 – £150,000|
|Additional rate 45%||Over £150,000||Over £150,000|
* Savings income is taxed at 0% up to £5,000 (2015-16: 0% up to £5,000). If an individuals taxable non-savings income exceeds £5,000 then the savings rate will not be available.
|Dividend ordinary rate||7.5%||10%|
|Dividend upper rate||32.5%||32.5%|
|Dividend additional rate||38.1%||37.5%|
|Personal savings allowance|
|– basic rate taxpayers||£1,000||–|
|– higher rate taxpayers||£500||–|
|Registered blind person’s allowance||£2,290||£2,290|
|Income limit for personal allowance*||£100,000||£100,000|
* The personal allowance is gradually withdrawn by £1 for every £2 of income over £100,000.
|Married couple allowance – tax relief given at 10%|
|– Born before 6 April 1935||£8,355||£8,165|
|– Minimum amount*||£3,220||£3,140|
|– Income limit||£27,700||£27,700|
|– Marriage allowance*||£1,100||£1,060|
* A tax payer can transfer up to £1,100 of their unused personal allowance to a spouse or civil partner who is not a higher rate tax payer.
|High Income Child Benefit Charge* on income over||£50,000||£50,000|
* The tax charge is levied at the rate of 1% of the full child benefit award for each £100 that income exceeds £50,000, up to a maximum of 100% of the child benefit claimed.
Taxpayers can choose whether to continue receiving child benefit and pay the tax charge or may opt out of receiving the child benefit.
There is a cap on certain Income Tax reliefs of the greater of £50,000 or 25% of income.
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