We've compiled the definitive set of tax tables for 2017/18, with the 2016/17 figures for comparison, in a complete listing of tax changes, rates and thresholds.
1. Personal tax and benefits
1.1 Income tax bands of taxable income (£ per year)
Apply to non-dividend income, including income from savings, employment, property or pensions. From 2017-18, the main rates will be separated into the main rates, the savings rates and the default rates ↩
Apply to dividend income received above the £5,000 tax-free Dividend Allowance, introduced in April 2016 to replace the Dividend Tax Credit ↩
Apply to non-savings, non-dividend income, including income from employment, property or pensions not subject to the Scottish Rate of income tax ↩
Apply to dividend income received above the £5,000 tax-free Dividend Allowance, introduced in April 2016 to replace the previous Dividend Tax Credit ↩
Apply to non-savings and non-dividend income of any taxpayer that is not subject to either the Main rates or the Scottish Rates of income tax ↩
The Personal Allowance reduces where the income is above £100,000 – by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of date of birth ↩
This age-related allowance is reduced by £1 for every £2 of income over this limit ↩
This transferable allowance is available to married couples and civil partners who are not in receipt of married couple’s allowance. A spouse or civil partner who is not liable to income tax; or not liable at the higher or additional rates, can transfer this amount of their unused personal allowance to their spouse or civil partner. The recipient must not be liable to income tax at the higher or additional rates ↩
The relief for this allowance is given at 10%. ↩↩2
From April 2016, the new Dividend Allowance means that individuals will not have to pay tax on the first £5,000 of dividend income they receive ↩
From April 2016, the new Personal Savings Allowance means that basic rate taxpayers will not have to pay tax on the first £1,000 of savings income they receive and higher rate taxpayers will not have tax to pay on their first £500 of savings income. ↩↩2
Autumn Statement 2016 announced that the Secondary Threshold would be aligned with the Primary Threshold. From April 2018 onwards, it will be uprated in line with CPI ↩
These thresholds are uprated in line with the Higher Rate Threshold to maintain alignment between the Upper Earnings Limit and Higher Rate Threshold ↩↩2↩3↩4
The limits are defined as LEL - Lower Earnings Limit; PT - Primary Threshold; and UEL - Upper Earnings Limit ↩
No National Insurance contributions (NICs) are actually payable but a notional Class 1 NIC is deemed to have been paid in respect of earnings between the LEL and PT to protect contributory benefit entitlement. ↩
The limit is defined as ST – Secondary Threshold ↩
The limit is defined as UST – Upper Secondary Threshold ↩
The limit is defined as AUST – Apprentice Upper Secondary Threshold ↩
The Limit is defined as SPT – Small Profits Threshold ↩
Class 2 NICs are liable to be paid by all self-employed persons with profits above the Small Profits Threshold (SPT). The self-employed may choose to pay Class 2 if their profits are below the SPT ↩
Class 3 NICs can be paid by contributors to make the year a qualifying year for the basic State Pension (new State Pension from 6 April 2016) and Bereavement Benefit purposes ↩
These limits are defined as LPL – Lower Profits Limit; and UPL – Upper Profits Limit ↩
2017/18 tax tables - in an easy to read format
We've compiled the definitive set of tax tables for 2017/18, with the 2016/17 figures for comparison, in a complete listing of tax changes, rates and thresholds.
1. Personal tax and benefits
1.1 Income tax bands of taxable income (£ per year)
1.2 Income tax rates - 2016-17
1.3 Income tax rates - 2017-18
1.4 Starting rates for savings income
1.5 Special rates for trustees’ income
1.6 Income tax allowances
2. National Insurance Contributions (NIC)
2.1 Class 1 NICs: Employee and employer rates and thresholds (£ per week)
2.2 Class 2 NICs: Self-employed rates and thresholds (£ per week)
2.3 Class 3 NICs: Other rates and thresholds (£ per week)
2.4 Class 4 NICs: Self-employed rates and thresholds (£ per year)
3. Working and Child tax credits, child benefit and guardians allowance
3.1 Working and child tax credits
3.2 Child benefit (£ per week)
4. Tax free savings accounts
5. Fuel benefit and van benefit charge
Notes
Apply to non-dividend income, including income from savings, employment, property or pensions. From 2017-18, the main rates will be separated into the main rates, the savings rates and the default rates ↩
Apply to dividend income received above the £5,000 tax-free Dividend Allowance, introduced in April 2016 to replace the Dividend Tax Credit ↩
Apply to non-savings, non-dividend income, including income from employment, property or pensions not subject to the Scottish Rate of income tax ↩
Apply to savings income ↩
Apply to dividend income received above the £5,000 tax-free Dividend Allowance, introduced in April 2016 to replace the previous Dividend Tax Credit ↩
Apply to non-savings and non-dividend income of any taxpayer that is not subject to either the Main rates or the Scottish Rates of income tax ↩
The Personal Allowance reduces where the income is above £100,000 – by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of date of birth ↩
This age-related allowance is reduced by £1 for every £2 of income over this limit ↩
This transferable allowance is available to married couples and civil partners who are not in receipt of married couple’s allowance. A spouse or civil partner who is not liable to income tax; or not liable at the higher or additional rates, can transfer this amount of their unused personal allowance to their spouse or civil partner. The recipient must not be liable to income tax at the higher or additional rates ↩
The relief for this allowance is given at 10%. ↩ ↩2
From April 2016, the new Dividend Allowance means that individuals will not have to pay tax on the first £5,000 of dividend income they receive ↩
From April 2016, the new Personal Savings Allowance means that basic rate taxpayers will not have to pay tax on the first £1,000 of savings income they receive and higher rate taxpayers will not have tax to pay on their first £500 of savings income. ↩ ↩2
Uprated by CPI ↩ ↩2 ↩3 ↩4 ↩5 ↩6
Autumn Statement 2016 announced that the Secondary Threshold would be aligned with the Primary Threshold. From April 2018 onwards, it will be uprated in line with CPI ↩
These thresholds are uprated in line with the Higher Rate Threshold to maintain alignment between the Upper Earnings Limit and Higher Rate Threshold ↩ ↩2 ↩3 ↩4
The limits are defined as LEL - Lower Earnings Limit; PT - Primary Threshold; and UEL - Upper Earnings Limit ↩
No National Insurance contributions (NICs) are actually payable but a notional Class 1 NIC is deemed to have been paid in respect of earnings between the LEL and PT to protect contributory benefit entitlement. ↩
The limit is defined as ST – Secondary Threshold ↩
The limit is defined as UST – Upper Secondary Threshold ↩
The limit is defined as AUST – Apprentice Upper Secondary Threshold ↩
The Limit is defined as SPT – Small Profits Threshold ↩
Class 2 NICs are liable to be paid by all self-employed persons with profits above the Small Profits Threshold (SPT). The self-employed may choose to pay Class 2 if their profits are below the SPT ↩
Class 3 NICs can be paid by contributors to make the year a qualifying year for the basic State Pension (new State Pension from 6 April 2016) and Bereavement Benefit purposes ↩
These limits are defined as LPL – Lower Profits Limit; and UPL – Upper Profits Limit ↩