HMRC Tax Rates

HMRC Tax Rates

 

HMRC Tax Rates

Income Tax Bands 22/23

Band

Taxable Income

Percentage Taxed

Personal Allowance

Up to £12,570

0%

Basic Rate

£12,751 to £50,270

20%

Higher Rate

£50,271 to £150k

40%

Additional Rate

Over £150k

45%

Other Allowances 21/22

Married Couple’s Minimum Allowance

£3.530

Married Couple’s Maximum Allowance

£9,125

Blind Person’s Allowance

£2,520
Income Limit for Personal Allowance

£100k

 

How to Claim Income Tax Reliefs

Tax relief implies one of the following:

  • Pay less tax to the account of money you’ve spent on specific things, like business expenses if you’re self-employed
  • Get tax back or get it repaid in another way, like into a personal pension.

When Can You Get Tax Relief?

Tax relief is applied to the following: pension contributions, charity donations, maintenance payments and time spent working on a ship outside the UK.

It can also apply to other work/business expenses – you may be able to:

  • Get tax relief on what you spend running your business if you’re self-employed
  • Claim tax relief if you’re employed and you use your money for travel and things that you must buy for your job.