|Basic rate band income up to||£33,500||£32,000|
|Starting rate for savings income||*0%||*0%|
|Dividend ordinary rate||**7.5%||**7.5%|
|Higher rate income over||£33,500||£32,000|
|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|
|Married Couple's Allowance|
|Either partner born before 6 April 1935 (relief restricted to 10%)||#£8,445||#£8,355|
|Transferable Tax Allowance for certain married couples|
For 2017/18 Scottish taxpayers are subject to different income tax bands to the rest of the UK. The basic rate band is £31,500, higher rate income is between £31,500 and £150,000 and additional rate income is over £150,000. The rates of tax are the same as 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 2016/17 and 2017/18, £1,000 of savings income for basic rate taxpayers (£500 higher rate) may be tax-free.
**For 2016/17 and 2017/18 the first £5,000 of dividends are tax-free.
#Age related allowances are reduced by £1 for every £2 that adjusted net income exceeds £27,700 in 2016/17 and £28,000 in 2017/18 to a minimum personal allowance of £11,000 in 2016/17 and £11,500 in 2017/18 and to a minimum married couple's allowance of £3,220 in 2016/17 and £3,260 in 2017/18. Where adjusted net income exceeds £100,000 for both years the basic personal allowance is reduced in the same way until it is reduced to Nil, regardless of the individual's date of birth.
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.