Tax Facts 2020 -2021
Income Tax Rates
Basic Rate (BR) 20%
Higher Rate (HR) 40%
Additional Rate (over £150,000) 45%
Income Tax Rates for Savings
Basic Rate 20%
Higher Rate 40%
Additional Rate (over £150,000) 45%
Stubbington IFA take no responsibilty for the accuracy of these rates and allowances. Always confirm the information by clicking the HMRC logo above (opens a new window at gov.uk)
Income Tax Allowances
Band Taxable income Tax rate
Personal Allowance Up to £12,500 0%
Basic rate £12,500 to £50,000 20%
Higher rate £50,000 to £150,000 40%
Additional rate over £150,000 45%
Personal Savings Allowance £1,000 (BR) £500 (HR)
Inheritance Tax
Nil Rate Limit £325,000
Tax on excess 40%
Tax on excess where 10% or more is left to charity 36%