| Main personal allowances and reliefs | 2022/23 | 2021/22 | |
| Personal allowance* | £12,570 | £12,570 | |
| Marriage / civil partner’s transferable allowance | £1,260 | £1,260 | |
| Married couple’s / civil partner’s allowance at 10%† | – maximum | £9,415 | £9,125 |
| (if at least one born before 6/4/35) | – minimum | £3,640 | £3,530 |
| Blind person’s allowance | £2,600 | £2,520 | |
| Rent-a-room relief | £7,500 | £7,500 | |
| Property allowance | £1,000 | £1,000 | |
| Trading allowance | £1,000 | £1,000 |
* Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000
† Married couple’s/civil partner’s allowance reduced by £1 for every £2 of adjusted net income over £31,400, until minimum reached
INCOME TAX RATES AND BANDS
| UK taxpayers excluding Scottish taxpayers’ non-dividend, non-savings income | 2022/23 | 2021/22 |
| 20% basic rate on first slice of taxable income up to | £37,700 | £37,700 |
| 40% higher rate on next slice of taxable income over | £37,700 | £37,700 |
| 45% additional rate on taxable income over | £150,000 | £150,000 |
| Scottish taxpayers – non-dividend, non-savings income | 2022/23 | 2021/22 |
| 19% starter rate on taxable income up to | £2,162 | £2,097 |
| 20% basic rate on next slice up to | £13,118 | £12,726 |
| 21% intermediate rate on next slice up to | £31,092 | £31,092 |
| 41% higher rate on next slice up to | £150,000 | £150,000 |
| 46% top rate on income over | £150,000 | £150,000 |
| All UK taxpayers | |||
| Starting rate at 0% on band of savings income up to** | £5,000 | £5,000 | |
| Personal savings allowance at 0%: | Basic rate Higher rate Additional rate | £1,000 £500 £0 | £1,000 £500 £0 |
| Dividend allowance at 0%: All individuals | £2,000 | £2,000 | |
| Tax rates on dividend income: | Basic rate Higher rate Additional rate | 8.75% 33.75% 39.35% | 7.5% 32.5% 38.1% |
| Trusts: Standard rate band generally | £1,000 | £1,000 | |
| Rate applicable to trusts: | Dividends | 39.35% | 38.1% |
| Other income | 45% | 45% |
** Not available if taxable non-savings income exceeds the starting rate band
| High Income Child Benefit Charge: 1% of benefit per £100 of adjusted net income between £50,000–£60,000 |
| Non-domicile remittance basis charge after UK residence in at least: | 2022/23 | 2021/22 |
| 7 of the last 9 tax years 12 of the last 14 tax years | £30,000 £60,000 | £30,000 £60,000 |
TAX INCENTIVISED INVESTMENTS
| 2022/23 | 2021/22 | |
| Total Individual Savings Account (ISA) limit, excluding Junior ISAs (JISAs) | £20,000 | £20,000 |
| Lifetime ISA | £4,000 | £4,000 |
| JISA and Child Trust Fund | £9,000 | £9,000 |
| Venture Capital Trust (VCT) at 30% | £200,000 | £200,000 |
| Enterprise Investment Scheme (EIS) at 30%* | £2,000,000 | £2,000,000 |
| EIS eligible for CGT deferral relief | No limit | No limit |
| Seed Enterprise Investment Scheme (SEIS) at 50% | £100,000 | £100,000 |
| SEIS CGT reinvestment relief | 50% | 50% |
*Above £1,000,000 investment must be in knowledge-intensive companies
REGISTERED PENSIONS
| 2022/23 | 2021/22 | |
| Lifetime allowance | £1,073,100 | £1,073,100 |
| Money purchase annual allowance | £4,000 | £4,000 |
| Annual allowance* | £40,000 | £40,000 |
Annual allowance charge on excess is at applicable tax rate(s) on earnings
Lifetime allowance charge if excess is drawn as cash 55%: as income 25%
Pension commencement lump sum up to 25% of pension benefit value
* Reduced by £1 for every £2 of adjusted income over £240,000 to a minimum of £4,000, subject to threshold income being over £200,000
PROPERTY TAXES
Property transaction taxes have different rates and names depending on where in the UK a purchase takes place.
England & N Ireland – Stamp Duty Land Tax (SDLT) on slices of value
| Residential property | % | Commercial property* | % |
| Up to £125,000 | 0 | Up to £150,000 | 0 |
| £125,001–£250,000 | 2 | £150,001–£250,000 | 2 |
| £250,001 –£925,000 | 5 | Over £250,000 | 5 |
| £925,001–£1,500,000 | 10 | ||
| Over £1,500,000 | 12 |
*0% for freeport qualifying property in England only
First time buyers: 0% on first £300,000 for properties up to £500,000
Non-resident purchasers: 2% surcharge on properties £40,000 or more
Residential properties bought by companies etc. over £500,000: 15% of total consideration, subject to certain exemptions
| Scotland – Land and Buildings Transaction Tax (LBTT) on slices of value | |||
| Residential property | % | Commercial property | % |
| Up to £145,000 | 0 | Up to £150,000 | 0 |
| £145,001 – £250,000 | 2 | £150,001 – £250,000 | 1 |
| £250,001 – £325,000 | 5 | Over £250,000 | 5 |
| £325,001 – £750,000 | 10 | ||
| Over £750,000 | 12 | ||
| First-time buyers: 0% on first £175,000 |
| Wales – Land Transaction Tax (LTT) on slices of value | |||
| Residential property | % | Commercial property | % |
| Up to £180,000 | 0 | Up to £225,000 | 0 |
| £180,001 – £250,000 | 3.5 | £225,001 – £250,000 | 1 |
| £250,001 – £400,000 | 5 | £250,001 – £1,000,000 | 5 |
| £400,001 – £750,000 | 7.5 | Over £1,000,000 | 6 |
| £750,001 – £1,500,000 | 10 | ||
| Over £1,500,000 | 12 |
| Additional residential and all corporate residential properties £40,000 or more – add 3% to SDLT rates and 4% to LBTT and LTT rates |
| Stamp Duty and SDRT: Stocks and marketable securities 0.5% |