What are the tax bands for 2017 18?
Tax Brackets
| Tax Rate | 2016/17 | 2017/18 |
|---|---|---|
| Basic rate 20% | £0 – £32,000 | £0 – £33,500 |
| Higher Rate 40% | £32,001 – £150,000 | £32,001 – £150,000 |
| Additional Rate 45% | £150,001+ | £150,001+ |
| NOTE: These rates are applied after your tax free allowance has been deducted from your gross wage. |
What were tax brackets in 2017?
Taxpayers for 2017 fall into one of seven brackets, depending on their taxable income: 10%, 15%, 25%, 28%, 33%, 35% or 39.6%….How We Make Money.
| Tax rate | Single | Head of household |
|---|---|---|
| 10% | Up to $9,325 | Up to $13,350 |
| 15% | $9,326 to $37,950 | $13,351 to $50,800 |
| 25% | $37,951 to $91,900 | $50,801 to $131,200 |
What are the tax bands for 2018-19?
Tax thresholds, rates and codes
| PAYE tax rates and thresholds | 2018 to 2019 |
|---|---|
| UK basic tax rate | 20% on annual earnings above the PAYE tax threshold and up to £34,500 |
| UK higher tax rate | 40% on annual earnings from £34,501 to £150,000 |
| UK additional tax rate | 45% on annual earnings above £150,000 |
What are the tax bands in the UK?
Income Tax rates and bands
| Band | Taxable income | Tax rate |
|---|---|---|
| Personal Allowance | Up to £12,570 | 0% |
| Basic rate | £12,571 to £50,270 | 20% |
| Higher rate | £50,271 to £150,000 | 40% |
| Additional rate | over £150,000 | 45% |
What was the tax allowance in 2018?
For the tax year 2018-19, starting on 6th April 2018, the Personal Allowance amount is going up to £11,850. This means if you are a basic rate tax payer you will pay roughly £70 less tax in the 2018/2019 tax year.