Uk Income Tax Brackets 2024/24. The personal allowance reduces where the income is above £100,000 — by £1 for every £2. The income tax and personal allowances are used to calculate the amount of income tax.
This will apply to workers aged 21 or over. Trust can claim half of this allowance.
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Trust can claim half of this allowance.
This Will Apply To Workers Aged 21 Or Over.
Tax brackets for the 2023/24 tax year are updated below, following the budget on 15 march 2023.
The Levels Of The National Living Wage (Nlw) And National Minimum Wage (Nmw) Have Also Been Confirmed, With The Nlw Increasing To £11.44 Per Hour From.
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In The Tax Year 2024/2025 The Higher Rate 40% Tax Threshold Begins At £50,271 And Ends At £125,140.
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After That, A 2Pc Rate Applies.
These figures apply to dividend income received.
The Standard Personal Allowance For The 2024/25 Tax Year Is £12,570.
