Income Tax Bands

 

The 20% basic rate band is £31,865 for 2014/15 and will be £31,785 for 2015/16. This means that you pay 40% tax if your taxable income exceeds £41,865 for 2014/15 and £42,285 for 2015/16.

The 45% top rate continues to apply to taxable income over £150,000 for 2014/15.

Agree? Disagree? Do let Sharon Rose-Bloy know what you think by commenting below.

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