UK (except Scotland) Tax rates and allowances for 2019/20

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Band/CategoryTax rateTaxable income
2018/19 (UK – except Scotland)2019/20 (UK – except Scotland)
Personal Allowance0%Up to £11,850Up to £12,500
Basic rate20%£11,851 to £46,350£12,500 to £50,000
Higher rate40%£46,351 to £150,000£50,000 to £150,000
Additional rate45%over £150,000over £150,000
Dividend Allowance0%£2,000£2,000
Basic rate7.50%Upto £46,350Upto £50,000
Higher rate32.50%£46,351 to £150,000£50,000 to £150,000
Additional rate38.10%over £150,000over £150,000
NI Threshold£162 pw£166 pw
Employer NI Allowance (Provided more than 1 employee)£3,000£3,000
Monthly NET Salary (More than 1 employee)£953£1002
Monthly NET Salary (1 employee)£702£719
Tax free savings accounts
Individual Savings Account (ISA) subscription limit£20,000£20,000
Junior ISA subscription limit£4,260£4,368
Child Trust Fund (CTF) subscription limit£4,260£4,368
Corporation Tax19%19%
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