Income tax rates | 2022 / 2023 | |
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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 £150,000 | 40% |
Additional rate | over £150,000 | 45% |
Basic State Pension | 2022 / 2023 |
---|---|
New State Pension | £185.15 p.w. |
Old State Pension | £141.85 p.w. |
Limits to tax efficient pension savings | 2022 / 2023 |
---|---|
Annual Allowance | £40,000 |
Tapered Annual Allowance applies to those with taxable income in excess of: | £200,000 |
Money Purchase Annual Allowance | £4,000 |
Lifetime Allowance | £1,073,100 |
Scheme Specific Earnings Cap |
£181,800 |