Income Tax Allowances
Personal allowance   £11,000
Dividend allowance   £5,000
Savings rate band   £5,000
Personal savings allowance   £1,000

(£500 for higher rate tax payers, £0 for additional)

Income tax bands and rates
Effective rate Dividend rate
Basic rate band £11,000 – £43,000 20% 7.5%
Higher rate band I £43,000 – £150,000 40% 32.5%
Loss of personal allowance £100,000 – £122,000 60% 52.5%
Higher rate band II £122,000 – £150,000 40% 32.5%
Additional rate band £150,000 + 45% 38.1%
Capital Gains Tax
Annual exemption   £11,100
Inheritance Tax
Nil rate band   £325,000
Pension Allowances
Earnings under £110,000 £40,000
Pension Allowances may be reduced for people earning over £110,000, those who have flexibly accessed their pensions; and Carry Forward may apply for many people.
ISA Allowances
ISA £15,240
Junior ISA £4,080
Lifetime ISA (from 6th April 2017) £4,000
Opinions & Insights

The pensions lifetime allowance should be a target, not a limit

The Lifetime Allowance (LTA) is the most tax efficient sum that can be accrued in a pension pot without further tax charges. For Money Purchase arrangements, and for lump sums from Final Salary Schemes it is simply the pound note value of benefits that are assessed, with Defined Benefits and other scheme pensions being assessed as 20x the pension payable. Read more →

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