Tax Rates

Tax Rates

The table below shows the tax rates you pay in each band if you have a standard Personal Allowance for 2018/19 in Scotland:

Scottish Starter Tax Rate        19% on annual earnings above PAYE threshold and up to £2000    

Scottish Basic Tax Rate          20% on annual earnings from £2001 to £12,150

Scottish Intermediate Tax Rate21% on annual earnings from £12,150 to £31,580

Scottish Higher Tax rate         41% on annual earnings from £31,581 to £150,000

Scottish Top Tax rate              46% on annual earnings over £150,000

 

 

The table below shows the tax rates you pay in each band if you have a standard Personal Allowance for 2018/19 in the rest of UK:

UK Basic Tax Rate                 20% on annual earnings above the PAYE tax threshold and up to £34,500

UK higher tax rate                  40% on annual earnings from £34,501 to £150,000

UK additional tax rate            45% on annual earnings above £150,000

 

 

 

Personal Allowance Rates

This is the amount of income you can receive each year before income tax is calculated. Until you reach the State pension age the personal allowance thresholds are:

Financial Year

Earnings Threshold

 

 

2017-18

£11,500

2018-19

£11,850

 

More information on all of the above rates can be found on the HRMC website http://www.hmrc.gov.uk/.

 

National Insurance Rates

National Insurance contributions are paid by employees to build up their entitlement to certain state benefits, including the State Pension. Contributions paid are dependent upon earnings:

Earnings Per Month

Percentage Paid

Additional Contribution

£680-3750

12%

 

over £3,750

 

2%

Payment of contributions cease when State Pension is reached.