2024/2025 tax rates and allowances. The 2024/25 new tax year starts on 6th april 2024 and ends 5th april 2025.
£12,570 of your £50,000 is tax free, the remaining £37,430 falls within the basic rate tax band and is charged at 20pc. England, northern ireland and wales.
So Here Are Eight Self.
It’s smaller if your income is over £100,000.
2024/2025 Tax Rates And Allowances.
Explore the latest uk tax rates for 2024/25, including income tax, savings allowances, and capital gains tax details for individuals.
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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.
The standard personal allowance is £12,570, which is the amount of income you do not have to pay tax on.
The Tax And Ni Rates And Thresholds, As Well As The National Living And Minimum Wage Levels, Applicable To Earnings Taxed Under Paye Have Been Confirmed.
You pay income tax at the rates applicable to the parts of.