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Tax Tables

Income Tax Tables – Rates and Reliefs 2016-2017

Income Tax Rates

Tax Year 2016/17

Tax Year 2015/16

10%*on first

£5,000

20%

£32,000

£31,785

40%

£32,000-£150,000

£31,786-£150,000

45%

£150,000

*Applies to earned income and bank and building society interest.

** Only to savings income PROVIDED that a person’s taxable non savings or earned income does not exceed the limit. In practice this is a measure aimed at those with modest savings in the bank, such as pensioners who worked hard, saved, perhaps own their own home, but have only modest pensions and some savings to live on.

Main Income Tax Reliefs

Tax Year 2016/17

Tax Year 2015/16

Personal allowance

£11,000

£10,600

Married couples allowance* (2)

£1,100

£1,060

Blind persons allowance

£2,290

£2,230

Age related allowances limit (apply if income less than limit, reduced if gross income exceeds limit)**

N/A

Allowances for those born before 6 April 1948

N/A

27,700

Personal allowance, age 65-74

£11,000

£10,600

Personal allowance, age 75+

£11,000

£10,660

Married couples allowance**, age 75+

£8,355

* Relief restricted to 10%.

** These allowances were only available to people (or, if a couple, where one person) born before 6th April 1935.

(1) Reduced for those with incomes over £100,000, tapering down to zero.

(2) In the year in which you qualify you get it pro-rata according to the number of whole months, rounded up.

The Financial Conduct Authority does not regulate some forms of tax planning. Levels and bases of and reliefs from taxation are subject to change.