Income Tax Rates 2024/25 Uk. Read our guide to uk tax rates 2024/2025 for sole traders, limited companies, partners and partnerships, employers, and other businesses. For the tax year 2024/25, the standard personal allowance stands at £12,570.
How much of your income falls within each tax band; 45% additional rate on taxable income over £125,140
How Much Of Your Income Is Above Your Personal Allowance;
Rent a room relief (£7,500), trading income (£1,000) and property income (£1,000) all remain.
Wondering What The Tax Rates Are For 2024/25?
Read on for more information about the current uk income tax rates, scotland’s separate tax system, and other relevant details.
Income Tax Rates 2024/25 Uk Images References :
Read On For More Information About The Current Uk Income Tax Rates, Scotland’s Separate Tax System, And Other Relevant Details.
You'll pay 20% on income that falls within this range.
The Rate You Pay Depends On The Portion Of Your Taxable Income That Fits Into The Tax Bands.
The basic rate (20%), the higher rate (40%), and the additional rate (45%).