Roland Askew at Moneyflow Ltd has been helping individuals and families reach their financial goals.

Please Confirm

OK Cancel

Personal Taxation

Tax treatment varies according to individual circumstances and is subject to change.

Income Tax Rates and Allowances

Income Tax allowances 2019-20 2018-19
Personal Allowance £12,500 £11,850
Personal reduced by £1 for every £2 of net income over £100,000 £100,000
Transferable tax allowance for married couples/civil partners £1,250 £1,190
Blind Person's Allowance £2,450 £2,390
Married couples/civil partner at 10% - minimum (1) £3,450 £3,360
Married couples/civil partner at 10% - maximum (1,2) £8,915 £8,695
Rent-a-room tax-free income £7,500 £7,500

(1) Where at least one spouse/civil partner was born before 6/4/35.
(2) Reduced by £1 for every £2 of income over £28,600 (£28,900 for 2018/19) until the minimum is reached.


Personal Allowances and Tax Bands

  2019-20 2018-19
Basic rate of 20% on taxable income up to: £37,500 £34,500
Higher rate of 40% on taxable income over: £37,500 £34,500
Additional rate of 45% on taxable income over: £150,000 £150,000
Year Personal Allowance Higher Rate Tax Band
2019-2020 £12,500 £37,500 (+£12,500 = £50,000)
2018-2019 £11,850 £34,500 (+£11,850 = £46,350)

Savings & Dividend Taxation

  2019-20 2018-19
Savings rates
Starting rate at 0% on savings income up to
Reduced by £1 for every £1 of income above Personal Allowance
£5,000 £5,000
Personal Savings Allowance at 0% tax on interest received
Depends on income tax band of other income.
Basic rate taxpayers £1,000 £1,000
Higher rate taxpayers £500 £500
Additional rate taxpayers £0 £0
Dividend allowance at 0% tax - all individuals
Tax rate on dividend income in excess of allowance:
£2,000 £2,000
Tax rate on dividend income:
Basic rate taxpayers 7.5% 7.5%
Higher rate taxpayers 32.5% 32.5%
Additional rate taxpayers 38.1% 38.1%

Rates for Capital Gains Tax

The Capital Gains Tax rate you use depends on the total amount of your taxable income, so work that out first.

Use these rates and allowances for Capital Gains Tax to work out your overall gains above your tax-free allowance (known as the Annual Exempt Amount).

Who is likely to be affected

Individuals, trustees of settlements and the personal representatives of deceased persons who have capital gains.

Not including Residential property 2019-20 2018-19
Tax Rate (tax payers below higher rate) 10% 10%
Tax Rate (within UK higher and additional tax rate) 20% 20%
Annual Exemption Amount (Individuals) £12,000 £11,700
Annual Exemption Amount (Other Trustees) £6,000 £5,850

For more information (including residential property) www.gov.uk/guidance/capital-gains-tax-rates-and-allowances »


Note: These tables are provided for guidance only.

The Financial Conduct Authority does not regulate taxation advice.

Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.