Tax Rates and Allowances 2023-24

Tax Rates and Allowances for 2023/2024 covering England, Northern Ireland, Wales & Scotland.

England, Northern Ireland & Wales

Income Tax Bands2023/2024
20% (Basic Rate)Up to £37,700
40% (Higher Rate)£37,701 to £125,140
45% (Additional Rate)Over £125,140

In March 2022 the Chancellor announced the basic rate would reduce from 20% to 19% in 2024. Then in September 2022 as part of the mini budget the Chancellor announced this change would be brought forward to April 2023. Subsequently on 17th October 2022 it was announced that the Government still intend to drop the basic rate of tax but only when the economic stability of the UK allows it and therefore the basic rate will stay at 20% for the foreseeable future.

Scotland

Income Tax Bands2023/2024
19% (Starter Rate)​Up to £2,162
20% (Basic Rate)£2,163 to £13,118
21% (Intermediate Rate)£13,119 to £31,092
42% (Higher Rate)£31,093 to £125,140
47% (Top Rate)Over £125,140

Allowances

England, Northern Ireland, Wales & Scotland

  • Personal allowance – £12,570 PA
  • Marriage allowance – £1,260 PA
  • Blind Persons allowance – £2,600 PA