2016/17 |
2015/16 |
||
Band £ | Rate % | Band £ | Rate % |
0 – 5,000 | 0* | 0 – 5,000 | 0* |
0 – 32,000 | 20** | 0 – 31,785 | 20** |
32,001 – 150,000 | 40♦ | 31,786 – 150,000 | 40♦ |
Over 150,000 | 45† | Over 150,000 | 45† |
*Only applicable to savings income. The rate is not available if taxable non-savings income exceeds £5,000. For 2016/17, £1,000 of savings income for basic rate taxpayers (£500 for higher rate) may be tax free.
** Except dividends 7.5% (0%).
♦ Except dividends 32.5% (25%).
† Except dividends 38.1% (30.6%).
Other income taxed first, then savings income and finally dividends. For 2016/17 the first £5,000 of dividends are tax free.