9 23 March 2022 l SPRING STATEMENT PERSONAL TAXATION Main personal allowances and reliefs 2022/23 2021/22 Personal allowance 1 £12,570 £12,570 Married couple’s / civil partner’s transferable allowance £1,260 £1,260 Married couple’s / civil partner’s allowance at 10% 2 (if at least one born before 6/4/35) maximum £9,415 £9,125 minimum £3,640 £3,530 Blind person’s allowance £2,600 £2,520 Rent-a-room relief £7,500 £7,500 Property allowance £1,000 £1,000 Trading allowance £1,000 £1,000 1. Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000. 2. Reduced by £1 for every £2 of adjusted net income over £31,400 (£30,400 for 2021/22), until the minimum is reached. Income tax rates and bands 2022/23 2021/22 UK taxpayers excluding Scottish taxpayers’ non-dividend, non-savings income 20% basic rate on first slice of taxable income up to £37,700 £37,700 40% higher rate on next slice of taxable income over £37,700 £37,700 45% additional rate on taxable income over £150,000 £150,000 All UK taxpayers Starting rate at 0% on band of savings income up to 3 £5,000 £5,000 Personal savings allowance at 0%: basic rate taxpayers £1,000 £1,000 higher rate taxpayers £500 £500 additional rate taxpayers £0 £0 Dividend allowance at 0% tax – all individuals £2,000 £2,000 Tax rates on dividend income: basic rate taxpayers 8.75% 7.5% higher rate taxpayers 33.75% 32.5% additional rate taxpayers 39.35% 38.1% 3. Not available if taxable non-savings income exceeds the starting rate band. Trusts 2022/23 2021/22 Standard rate band generally £1,000 £1,000 Dividends (rate applicable to trusts) 39.35% 38.1% Other income (rate applicable to trusts) 45% 45% High income child benefit charge: 1% of benefit per £100 adjusted net income of £50,000 — £60,000. Non-domicile remittance basis charge 2022/23 2021/22 After UK residence in at least 7 of the last 9 tax years £30,000 £30,000 After UK residence in at least 12 of the last 14 tax years £60,000 £60,000
RkJQdWJsaXNoZXIy MjM4MA==