Budget 2014- Income tax bands

Home / Tax / Budget 2014- Income tax bands
March 21, 2014 3:54 pm Tax Comments Off on Budget 2014- Income tax bands

The 20% basic rate band is £31,865 for 2014/15 and will be £31,785 for 2015/16. This means that you pay 40% tax if your taxable income exceeds £41,865 for 2014/15 and £42,285 for 2015/16.

The 45% top rate continues to apply to taxable income over £150,000 for 2014/15.

If you have any queries please contact Sue Stephens or John Elliott.

For the full 2014 Budget Summary please click this link BWM 2014 Budget Report