2018/19 Income Tax
Income Tax Rates
(other than dividend income)
| Band £ | 2018-19 | Band £ | 2017-18 |
| 0 to 34,500 | 20% | 0 to 33,500 | 20% |
| 34,501 to 150,000 | 40% | 33,501 to 150,000 | 40% |
| Over 150,000 | 45% | Over 150,000 | 45% |
Scottish taxpayers are subject to different tax rates and banks on non-savings and non-dividend income.
Savings Income
| 2018-19 | 2017-18 | |
| Starting rate for savings | 0% | 0% |
| Starting rate limit for savings | £5,000 | £5,000 |
Not available if the taxable non-savings income exceeds the starting rate band. £1,000 of savings income for basic rate taxpayers (£500 for higher rate) may be tax free.
Dividened Income
| 2018-19 | 2017-18 | |
| Dividend ordinary rate | 7.5% | 7.5% |
| Dividend upper rate | 32.5% | 32.5% |
| Dividend additional rate | 38.1% | 38.1% |
The first £2,000 of dividends are tax free (£5,000 for 2017/18).
Personal allowances (PA)
| 2018-19 | 2017-18 |
| £11,850 | £11,500 |
Marriage Allowance
| 2018-19 | 2017-18 |
| £1,190 | £1,150 |
Married couple’s allowance (MCA) (relief 10%)
| 2017-18 | 2016-17 | |
| Married couple’s allowance (MCA) (relief 10%) | £8,695 | £8,445 |
| Either partner born before 6th April 1935 | £3,360 | £3,260 |
Reduce MCA by £1 for every £2 of adjusted net income over £28,900 (£28,000).
Tax Free Savings Accounts
| 2018-19 | 2017-18 | |
| ISA Subscription Limit | £20,000 | £20,000 |
| Junior ISA and CTF subscription limit | £4,260 | £4,128 |