LATEST TAX DATA
Disclaimer: Tax rules and rates change on a regular basis so we cannot guarantee that this data is accurate at all times, please check with us first
UK Tax Rates & Thresholds 2024/25 vs 2025/26
INCOME TAX
| Threshold/Rate | 2024/25 | 2025/26 | Notes/Applicable To |
|---|---|---|---|
| Personal Allowance | £12,570 | £12,570 | Reduces by £1 for every £2 earned over £100,000. |
| Marriage/Civil Partners’ Transferable Allowance | £1,260 | £1,260 | |
| Blind Person’s Allowance | £3,070 | £3,130 | |
| Rent-a-Room Relief | £7,500 | £7,500 | |
| Property Allowance/Trading Allowance (each) | £1,000 | £1,000 |
UK TAXPAYERS (EXCLUDING SCOTTISH)
| Threshold/Rate | 2024/25 | 2025/26 | Notes/Applicable To |
|---|---|---|---|
| Basic Rate | 20% (up to £37,700) | 20% (up to £37,700) | |
| Higher Rate | 40% (£37,701 - £125,140) | 40% (£37,701 - £125,140) | |
| Additional Rate | 45% (over £125,140) | 45% (over £125,140) |
SCOTTISH TAXPAYERS
| Threshold/Rate | 2024/25 | 2025/26 | Notes/Applicable To |
|---|---|---|---|
| Starter Rate | 19% (up to £2,306) | TBA | |
| Basic Rate | 20% (£2,307 - £13,991) | TBA | |
| Intermediate Rate | 21% (£13,992 - £31,092) | TBA | |
| Higher Rate | 42% (£31,093 - £62,430) | TBA | |
| Top Rate | 45% (£62,431 - £125,140) | TBA |
ALL UK TAXPAYERS
| Threshold/Rate | 2024/25 | 2025/26 | Notes/Applicable To |
|---|---|---|---|
| Starting Rate for Savings | 0% (up to £5,000) | 0% (up to £5,000) | |
| Personal Savings Allowance (0%) | £1,000 (Basic Rate) / £500 (Higher Rate) / £0 (Additional Rate) | £1,000 (Basic Rate) / £500 (Higher Rate) / £0 (Additional Rate) | |
| Dividend Allowance | £500 | £500 | |
| Dividend Tax Rates | 8.75% (Basic Rate) / 33.75% (Higher Rate) / 39.35% (Additional Rate) | 8.75% (Basic Rate) / 33.75% (Higher Rate) / 39.35% (Additional Rate) | |
| Trusts - Income Exemption | £500 | £500 | |
| Trusts - Dividend Rate | 39.35% | 39.35% | |
| Trusts - Other Income Rate | 45% | 45% | |
| High Income Child Benefit Charge | 1% per £200 of income between £60,000 - £80,000 | 1% per £200 of income between £60,000 - £80,000 |
REGISTERED PENSIONS
| Threshold/Rate | 2024/25 | 2025/26 | Notes/Applicable To |
|---|---|---|---|
| Lump Sum & Death Benefit Allowance | £1,073,100 | £1,073,100 | |
| Lump Sum Allowance | £268,275 | £268,275 | |
| Money Purchase Annual Allowance | £10,000 | £10,000 | |
| Annual Allowance | £60,000 | £60,000 | Reduced by £1 for every £2 of adjusted income over £260,000 (min £10,000). |
STATE PENSIONS
| Annual/Weekly | 2024/25 | 2025/26 |
|---|---|---|
| New State Pension (Annual) | £11,973.00 | N/A |
| New State Pension (Weekly) | £230.25 | N/A |
| Basic State Pension (Single) (Annual) | £9,175.40 | N/A |
| Basic State Pension (Spouse/Civil Partner) (Annual) | £5,493.80 | N/A |
TAX-INCENTIVISED INVESTMENTS
| Investment | 2024/25 | 2025/26 |
|---|---|---|
| Total ISA Limit | £20,000 | £20,000 |
| Lifetime ISA | £4,000 | £4,000 |
| JISA/Child Trust Fund | £9,000 | £9,000 |
| VCT (30%) | £200,000 | £200,000 |
| EIS (30%) | £2,000,000 | £2,000,000 |
| SEIS (50%) | £200,000 | £200,000 |
NATIONAL INSURANCE CONTRIBUTIONS
| Class | Rate (2024/25) | Rate (2025/26) | Notes |
|---|---|---|---|
| Class 1 (Employee) | 8% | 8% | No NICs for earnings below £242 pw. |
| Class 1 (Employer) | 15% | 15% | |
| Class 2 (Self-Employed) | £3.50 (weekly) | N/A | Voluntary, Small Profits Threshold £6,845 |
| Class 4 (Self-Employed) | 6% (£12,570 - £50,270) / 2% (over £50,270) | 6% (£12,570 - £50,270) / 2% (over £50,270) |
CAPITAL GAINS TAX
| 2024/25 | 2025/26 | |
|---|---|---|
| Annual Exemption (Individuals/Estates) | £3,000 | £3,000 |
| Annual Exemption (Trusts) | £1,500 | £1,500 |
INHERITANCE TAX
| 2024/25 | 2025/26 | |
|---|---|---|
| Nil-Rate Band | £325,000 | £325,000 |
| Residence Nil-Rate Band | £175,000 | £175,000 |
STAMP DUTIES & PROPERTY TAXES
| 2024/25 | 2025/26 | |
|---|---|---|
| SDLT (England & NI - 2025 Rates) | N/A | 0% (up to £125,000), 2% (£125,001-£250,000), 5% (£250,001-£925,000), 10% (£925,001-£1,500,000), 12% (over £1,500,000) |
CORPORATION TAX
| Profits | 2024/25 | 2025/26 |
|---|---|---|
| £0 - £50,000 | 19.0% | 19.0% |
| £50,001 - £250,000 | 26.5% | 26.5% |
| £250,001+ | 25.0% | 25.0% |
VALUE ADDED TAX (VAT)
| Rate | |
|---|---|
| Standard Rate | 20% |
Disclaimer: The information provided in this table is for general guidance only and is based on the latest rates and allowances available on the HMRC website as of November 26, 2023. Tax laws are subject to change, and individual circumstances may vary. This table is not a substitute for professional tax advice. We recommend consulting with a qualified tax advisor for personalized advice. Please refer to the official HMRC website ([https://www.gov.uk/government/collections/rates-and-allowances-hm-revenue-and-customs](https://www.gov.uk/government/collections/rates-and-allowances-hm-revenue-and-customs)) for the most up-to-date information.
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