(FA 2014, s. 1; ITA 2007, s. 6–15)

(In-depth: ¶148-060ff.)

2014–15

Taxable income band

Tax rate

Tax on band

£

%

£

 Basic rate

1–31,865 

20

 6,373

 Higher rate

31,866–150,000 

40

47,254

 Additional rate

Over 150,000 

45

 Rate on non-dividend savings income

10% up to £2,880(1)

20% up to basic rate limit

40% up to higher rate limit

45% thereafter

 Dividend ordinary rate

10% up to basic rate limit

(effective rate with tax credit)

(0%)

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