NEWS
November 1, 2021
Main personal allowances and reliefs | 22/23 | 21/22 |
Personal allowance* | £12,570 | £12,570 |
Marriage/civil partner’s transferable allowance | £1,260 | £1,260 |
Married couple’s/civil partner’s allowance at 10%† – maximum | £9,415 | £9,125 |
£3,640 | £3,530 | |
Blind person’s allowance | £2,600 | £2,520 |
Rent-a-room relief | £7,500 | £7,500 |
Property allowance | £1,000 | £1,000 |
Trading allowance | £1,000 | £1,000 |
* Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000
† Married couple’s/civil partner’s allowance reduced by £1 for every £2 of adjusted net income over £31,400, until minimum reached
UK taxpayers excluding Scottish taxpayers’ non-dividend, non-savings income | 22/23 | 21/22 |
20% basic rate on first slice of taxable income up to | £37,700 | £37,700 |
40% higher rate on next slice of taxable income over | £37,700 | £37,700 |
45% additional rate on taxable income over | £150,000 | £150,000 |
Scottish taxpayers – non-dividend, non-savings income | 22/23 | 21/22 |
19% starter rate on taxable income up to | TBA | £2,097 |
20% basic rate on next slice up to | TBA | £12,726 |
21% intermediate rate on next slice up to | TBA | £31,092 |
41% higher rate on next slice up to | TBA | £150,000 |
46% top rate on income over | TBA | £150,000 |
All UK taxpayers | ||
Starting rate at 0% on band of savings income up to** | £5,000 | £5,000 |
Personal savings allowance at 0%: Basic rate Higher rate Additional rate | £1,000 £500 £0 | £1,000 £500 £0 |
Dividend allowance at 0%: All individuals | £2,000 | £2,000 |
Tax rates on dividend income: Basic rate | 8.75% | 7.5% |
Higher rate | 33.75% | 32.5% |
Additional rate | 39.35% | 38.1% |
Trusts: Standard rate band generally | £1,000 | £1,000 |
Rate applicable to trusts: Dividends | 39.35% | 38.1% |
Other income | 45% | 45% |
** Not available if taxable non-savings income exceeds the starting rate band
High Income Child Benefit Charge: 1% of benefit per £100 of adjusted net income between £50,000–£60,000 |
Non-domicile remittance basis charge after UK residence in at least: | 22/23 | 21/22 |
7 of the last 9 tax years 12 of the last 14 tax years | £30,000 £60,000 | £30,000 £60,000 |
PLEASE NOTE: By the very nature of this type of information the details of tax law might have changed since they were published, so contact your Barnes Roffe partner before acting on any matter contained in this document.
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PLEASE NOTE: By the very nature of this type of information the details of tax law might have changed since they were published, so contact your Barnes Roffe partner before acting on any matter contained in these documents.
