|Basic rate band income up to||£37,700||£37,500|
|Starting rate for savings income||*0%||*0%|
|Dividend ordinary rate||**7.5%||**7.5%|
|Higher rate income over||£37,700||£37,500|
|Dividend upper rate||**32.5%||**32.5%|
|Additional rate income over||£150,000||£150,000|
|Dividend additional rate||**38.1%||**38.1%|
|Starting rate limit (savings income)||*£5,000||*£5,000|
|Transferable Tax Allowance for certain married couples|
For 2020/21 and 2021/22 Scottish taxpayers are subject to different income tax rates and bands to the rest of the UK.
* If an individual's taxable non-savings income exceeds the starting rate limit, then the starting rate limit for savings will not be available for savings income. For 2020/21 and 2021/22, £1,000 of savings income for basic rate taxpayers (£500 higher rate) may be tax-free.
** For 2020/21 and 2021/22 the first £2,000 of dividends are tax-free.
# Where adjusted net income exceeds £100,000 for both years the basic personal allowance is reduced by £1 for every £2 until it is reduced to Nil.
Monday - Friday
9.30 am to 5.00 pm
Clive Shedd & Co
232 Sladepool Farm Road
Birmingham B14 5EE
If you wish to make an appointment please contact us:
Tel: 0121 474 4774
Fax: 0121 474 4766
or use our contact form.