In england, wales and northern ireland, you pay tax at 40% on money you earn or receive between £50,271 and £125,140. Your personal allowance may be bigger if you claim marriage allowance or blind person’s allowance.
The 2024/25 tax year starts on 6 april 2024. Uk taxpayers can earn £12,570 before paying income tax in tax year 2024/25.
20% Tax On Earnings Between £14,733 And £25,688.
Annex a — rates and allowances.
Here's A Breakdown Of Income Tax Rates And Allowances For Residents Across The Uk:
The amount of income tax you deduct from your employees depends on their tax code and how much of their taxable income is above their personal allowance.
Images References :
The Table Above Shows 2024/25 Income Tax Rates For Taxpayers In England, Wales And Northern Ireland Who Have A Standard Personal Allowance Of £12,570.
Here’s a breakdown of how it’s calculated:
The Rates For Uk Taxpayers (Excluding Scotland) After Taking Account Of The Personal Allowance Are:.
A guide to the tax brackets and tax rates for the 2024/25 tax year, including income tax rates, national insurance and corporation tax.