Tax Facts 2019 -2020

​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%

Income Tax Allowances

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)

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%