Budgets & Other

Tax Rates 2020 2019/20 2020/21 £ £ Income tax rates: England and Wales only (non-dividend income)     0% starting rate for savings only (note 1) Up to 5,000 Up to 5,000 20% basic rate tax 12,501-50,000 12,501-50,000 40% higher rate tax 50,001-150,000 50,001-150,000 45% additional rate tax Above 150,000 Above 150,000 Scottish rates of income tax (non-dividend income)                                                    19% starting rate 12,501-14,549 12,501-14,585 20% basic rate tax 14,550-24,944 14,586-25,158 21% intermediate...

Income Tax Rates and Bands Recent income tax rates and bands are as follows: 2015/16 2016/17 2017/18 Savings rate: 10%, 0% from 2015/16 0 - £5,000 0- £5,000 0- £5,000 Dividend Allowance: 20% NA 0 - £5,000 0 - £5,000 Basic rate: 20% 0 - £31,785 0 - £32,000 0 - £33,500 Higher rate: 40% £31,786 - £150,000 £32,001 - £150,000 £33,501 - £150,000 Additional rate:...

Summary Chancellor Philip Hammond said it would be a short, snappy affair when he delivered the government's first Spring Statement to the House of Commons today, and this was indeed to be the case - it took just 30 minutes to cover the key points. The statement...

CGT Entrepreneurs' Relief Explained Entrepreneurs relief was introduced to help protect entrepreneurs from rises in CGT rates. Entrepreneurs' relief is available to individuals (or trustees in some circumstances) but not to limited companies. Entrepreneurs' relief can apply when you sell part or all of your business, or shares...

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