Edwards Greene Tax Tables Spring 2019

UK excluding Scottish taxpayers’ non-dividend, 19/20 18/19 non-savings income 20% basic rate on taxable income up to £37,500 £34,500 40% higher rate on taxable income over £37,500 £34,500 45% additional rate on taxable income over £150,000 £150,000 All UK taxpayers Starting rate at 0% on savings income up to* £5,000 £5,000 Personal savings allowance at 0%: Basic rate £1,000 £1,000 Higher rate £500 £500 Additional rate £0 £0 Dividend allowance at 0% – all individuals £2,000 £2,000 Tax rates on dividend income: Basic rate 7.5% 7.5% Higher rate 32.5% 32.5% Additional rate 38.1% 38.1% Trusts: Standard rate band generally £1,000 £1,000 Rate applicable to trusts: Dividends 38.1% 38.1% Other income 45% 45% * Not available if taxable non-savings income exceeds the starting rate band Scottish taxpayers – non-dividend, non-savings income 19% starter rate on income up to £2,049 £2,000 20% basic rate on next slice of income up to £12,444 £12,150 21% intermediate rate on next slice up to £30,930 £31,580 41% higher rate on next slice up to £150,000 £150,000 46% top rate on income over £150,000 £150,000 High Income Child Benefit Charge 1% of benefit per £100 of adjusted net income of £50,000 – £60,000 Main personal allowances and reliefs 19/20 18/19 Personal allowance* £12,500 £11,850 Marriage/civil partner’s transferable allowance £1,250 £1,190 Married couple’s/civil partner’s allowance at 10% †  (if at least one born before 6/4/35) – maximum £8,915 £8,695 – minimum £3,450 £3,360 Blind person’s allowance £2,450 £2,390 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 allowance reduced by £1 for every £2 of adjusted net income over £29,600 (£28,900 for 18/19), until minimum reached Non-domicile remittance basis charge after UK residence in at least: 7 of the last 9 tax years £30,000 £30,000 12 of the last 14 tax years £60,000 £60,000 19/20 18/19 Lifetime allowance £1,055,000 £1,030,000 Money purchase annual allowance £4,000 £4,000 Annual allowance* £40,000 £40,000 Annual allowance charge on excess applicable tax rate(s) on earnings Lifetime allowance charge if excess drawn as cash 55%; as income 25% Max. pension commencement lump sum 25% of pension benefit value *Reduced by £1 for every £2 of adjusted income over £150,000 to a minimum of £10,000, subject to threshold income being over £110,000 INCOME TAX REGISTERED PENSIONS