Tax Return Due Date 31st January 2018
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Income Tax Rates change from today

Harish Verma

Bands of taxable income and corresponding tax rates

  2015-16 2016-17
  % of income/£ per year  
Basic rate 20% 20%
Higher rate 40% 40%
Additional rate 45% 45%
Starting rate for savings income  0% 0%
Dividend ordinary rate – for dividends otherwise taxable at the basic rate (effective rate with tax credit) 10% (0%) 7.5%
Dividend upper rate – for dividends otherwise taxable at the higher rate (effective rate with tax credit)  32.5% (25%) 32.5%
Dividend additional rate – for dividends otherwise taxable at the additional rate (effective rate with tax credit)  37.5% (30.6%) 38.1%
Starting rate limit (savings income)1 £5,000 £5,000
Basic rate band £0-31,785 £0-32,000
Higher rate band £31,786-£150,000 £32,001-150,000
Additional rate band Over £150,000 Over £150,000


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