From the tax year 2017–18, the savings rates are separated from the main rates of income tax and apply to all taxpayers in respect of savings income.

The savings rates from 2017–18 are:

the starting rate for savings income at 0% (to the extent available);

the savings nil rate (to the extent available);

the savings basic rate of 20%;

the savings higher rate of 40%;

the savings additional rate of 45%.

The basic rate limit of £37,500 (for 2020-21) and higher rate limit of £150,000 apply for the purposes of the savings basic, higher and additional rates in the same way as for the main rates of income tax (see ¶4502).

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