Uk Higher Rate Tax Threshold 2024/24. The higher rate of income tax threshold for 2024/25 remains at £50,270. For the tax year 2023/202 4, the uk basic income tax rate was 20%.
The higher rate of income tax is 40%, which applies to income between £50,271 and £150,000. Add a new ‘advanced rate’ band of 45 pence applied on income from £75,000 to £125,140.
Uk Tax Rates And Allowances 2024.
The tax rates and personal allowances for the 2024/25 tax year, which started on 6 april 2024.
You Can Turn On/Off Different Years And Options By Clicking On The Legend Below The Chart.
20% tax on earnings between £14,733 and £25,688;
Lowering Of The Additional Rate Threshold.
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Lowering The Average Tax Rate On Income.
Add a new ‘advanced rate’ band of 45 pence applied on income from £75,000 to £125,140.
The Effective Personal Tax Rate Is Defined As The Employee National Insurance And Income Tax Paid As A Proportion Of An Individual’s Income.
As a result, the higher rate threshold is set at £50,270 up to and including 2025 to 2026.
This Means That You Can Earn Up To £13,000 Before You Start Paying Income Tax.