Band/Category Tax rate Taxable income
2018/19 (UK – except Scotland) 2019/20 (UK – except Scotland)
Personal Allowance 0% Up to £11,850 Up to £12,500
Basic rate 20% £11,851 to £46,350 £12,500 to £50,000
Higher rate 40% £46,351 to £150,000 £50,000 to £150,000
Additional rate 45% over £150,000 over £150,000
Dividend Allowance 0% £2,000 £2,000
Basic rate 7.50% Upto £46,350 Upto £50,000
Higher rate 32.50% £46,351 to £150,000 £50,000 to £150,000
Additional rate 38.10% over £150,000 over £150,000
NI Threshold £162 pw £166 pw
Employer NI Allowance (Provided more than 1 employee) £3,000 £3,000
Monthly NET Salary (More than 1 employee) £953 £1002
Monthly NET Salary (1 employee) £702 £719
Tax free savings accounts
Individual Savings Account (ISA) subscription limit £20,000 £20,000
Junior ISA subscription limit £4,260 £4,368
Child Trust Fund (CTF) subscription limit £4,260 £4,368
Corporation Tax 19% 19%

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