| Income tax rates | 2025 / 2026 | |
|---|---|---|
| Band | Taxable income | Tax rate |
| Personal Allowance | Up to £12,570 | 0% |
| Basic rate | £12,571 to £50,270 | 20% |
| Higher rate | £50,271 to £125,140 | 40% |
| Additional rate | over £125,141 | 45% |
| Basic State Pension | 2025 / 2026 |
|---|---|
| New State Pension | £230.25 p.w. |
| Old State Pension | £176.45 p.w. |
| Limits to tax efficient pension savings | 2025 / 2026 |
|---|---|
| Annual Allowance | £60,000 |
| Tapered Annual Allowance applies to those with taxable income in excess of: | £200,000 |
| Money Purchase Annual Allowance | £10,000 |
| Lump Sum Allowance | £268,275 |
| Lump Sum and Death Benefits Allowance | £1,073,100 |