Some of the measures announced by the Chancellor were as follows: Rates and allowances: The government will reduce the basic rate of income tax to 19% for England and Wales from April 2023. Also, the additional rate of income tax of 45% is abolished from April 2023, meaning the highest rate of income tax for […]
Category Archives: Budget
17
Mar
Mar
For all Budget Tax Rates 2019 to 2022, click here.
27
Aug
Aug
The Spring Budget 2020 announced a significant restriction on future availability of entrepreneurs’ relief (ER) for individuals who dispose of all or part of their business, individuals who dispose of shares in their personal company, and trustees who dispose of business assets. Broadly, the lifetime limit of £10m is to be reduced to £1m for […]
2016/17 2017/18 2018/19 £ £ £ Income tax rates – (non-dividend income) 0% – starting rate for savings only note 1 Up to 5,000 Up to 5,000 Up to £5,000 20% basic rate tax 11,001 – 43,000 11,501 – 45,000 11,851 – 46,350 40% higher rate tax 43,001 – […]