2021-22 Tax Rates

As one tax year ends, another begins..


2021-22 Key Allowances & Tax Rates


Allowances


Personal Allowance - £12,570 (Normal Tax Code 1257L)


Income limit for personal allowance - £100,000


Marriage Allowance -

Maximum amount of unused to Personal Allowance you can transfer to spouse - £1,260**

**This differs for individuals born before 6 April 1935**


Blind Persons Allowance - £2,520


Rent-A-Room Relief - £7,500


Trading Income Allowance - £1,000


Property Income Allowance - £1,000


Savings Allowance (Basic Rate Taxpayer) - £1,000


Savings Allowance (Higher Rate Taxpayer) - £500




Tax Rates


Basic Rate Tax (£0 - £37,700) - 20%


Higher Rate Tax (£37,701 - £150,000) - 40%


Additional Rate Tax (£150,000+) - 45%

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