|Income tax rates||2015-2016||2014-2015|
|0% / 10% starting rate for savings *||£5,000||£2,880|
|20% on income up to||£31,785||£31,865|
|40% on income over||£31,785||£31,865|
|45% on income over||£150,000||£150,000|
|Dividends for basic rate taxpayers||10%||10%|
|Dividends for higher rate taxpayers up to £150,000||32.5%||32.5%|
|Dividends for those with income over £150,000||37.5%||37.5%|
|Trusts within relevant property regime **||45%||45%|
|Dividends for trusts within relevant property regime||37.5%||37.5%|
* Restricted to savings income and not available if non-savings income exceeds starting rate limit.
** A standard rate band of £1,000 applies, below this level income will be taxed at no more than 20%.
|Main income tax reliefs||2015-2016||2014-2015|
|Personal allowance (for income up to £100,000) *||£10,600||£10,000|
|Personal allowance (born 6/4/1938 to 5/4/1948) *||£10,600||£10,500|
|Personal allowance (born before 6/4/1938) **||£10,660||£10,660|
|Married couple's / civil partner's allowance (born before 6/4/1935) ***||£8,355||£8,165|
|Transferable marriage allowance (married couples and civil partners) ****||£1,060||-|
|Income limit for age-related allowances||£27,700||£27,000|
|Blind person's allowance||£2,290||£2,230|
|Enterprise Investment Scheme at 30% *****||£1,000,000||£1,000,000|
|Seed Enterprise Investment Scheme at 50% *****||£100,000||£100,000|
|Venture Capital Trust at 30%*****||£200,000||£200,000|
|Social Investment Tax Relief at 30% *****||£1,000,000||£1,000,000|
|Rent-a-room tax-free income||£4,250||£4,250|
* The allowance is reduced by £1 for every £2 income above £100,000 irrespective of age.
** The allowance is reduced by £1 for every £2 income above the limit subject to a minimum allowance of £10,600 for 2015-16 (£10,000 for 2014-15) unless income exceeds £100,000.
*** The allowance may be reduced subject to income levels (minimum allowance £3,220 for 2015-16, £3,140 for 2014-15). Relief is given at 10%.
**** Available to spouses/civil partners who have unused personal allowance and are born after 5 April 1935. Relief is given at 20% to basic rate taxpayers only.
***** Capital Gains Tax reliefs may also be available.
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