Uk Tax Brackets 2024/24. For the tax year 2023/2024, the uk basic income tax rate was 20%. Since april 2022, the uk income tax rates 2024/25 threshold has stayed frozen, with the next increase.
The 2024/25 new tax year starts on 6th april 2024 and ends 5th april 2025. Ni rates apply across the uk.
This Increased To 40% For Your Earnings Above £50,270 And To 45% For Earnings Over £150,000.
What does the moneyfacts taxfacts 2024/2025 contain?
Ni Rates Apply Across The Uk.
You start paying ni when you turn 16 and earn over £242 a week, or have profits of more than £12,570 a year.
Published 26 Mar 2024 12 Min Read.
Images References :
Income Tax (Includes Figures For Scotland) Plus Tax Paid On Dividends.
0% tax on earnings up to £12,570.
Use The 2024 Income Tax And Personal Allowances To Calculate Tax Commitments, Self.
As the income tax thresholds are not rising in line with inflation, the freezes will raise the government over £40bn a year by 2027/2028 as wage inflation pushes.