Kirkpatrick & Hopes - Succession Planning Accountants

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Budget 2016: The proposals in detail – income tax bands

The 20% basic rate band for 2016/17 will be £32,000.

This will be increased to £33,500 for 2017/18.

This means that you will pay 40% tax if your taxable income exceeds £43,000 for 2016/17

This increases to £45,000 for 2017/18.

The 45% top rate continues to apply to taxable income over £150,000 for 2016/17

Andy Scott

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