UK tax year date : 6th April 2018 – 5th April 2019

Income Tax Rates 2018 – 19
Starting rate for savings 0%   £0 – £5,000
Basic  tax rate  20%   £0 – £34,500
Higher tax rate 40%   Over £34,500
Additional rate 45% Over £150,000
Basic rate on dividend Income 7.50%
Higher rate on dividend income 32.50%
Additional rate on dividend income 38.10%
Starter rate Scottish taxpayers 19%  £0 –  £2,000               
Basic  tax rate Scottish taxpayers 20%  £2001 – £12,150      
Intermediate rate Scottish taxpayers 21%  £12,151 – £31,580  
Higher tax rate Scottish taxpayers 41%   £31,581 – £150,000
Top  rate Scottish taxpayers 46%  Over £150,000        
Income Tax Allowances 2018 – 19
Personal allowance £11,850
Income limit for age-related allowances £28,900
Married couple’s allowance born before 6 April 1935 £8,695
Minimum amount of married couple’s allowance £3,360
Blind person’s allowance £2,390
Rent a room tax free income £7,500
Dividend allowance £2,000
Property Allowance £1,000
Trading Allowance £1,000
Reduced tax allowances by £1 for every £2 income over £100,000
Corporation Tax   2018 – 19
All profit 19%
Capital Gains Tax  2018 – 19
Individuals – investment that is not property
Individuals – second home/buy to let property
10% basic and 20% higher
18% basic and 28% higher
Trust 20%
Qualifying Entrepreneurs’ Relief 10%

Annual Exemption/ relief
Individuals £11,700
Trust  £5,850
Inheritance Tax 2018 – 19
Nil band £325,000
Residence Nil band £125,000
Lifetime transfers 20%
Transfer within 7 years of death 40%
If more than 10% of net estate left to charity 36%

Irish tax rates, bands and reliefs

The following tables show the tax rates, rate bands and tax reliefs for the tax year 2018 and the previous tax years.

Standard Company Rates of Tax

12.5 % for all trading companies

25% for investment and/or rental income

Capital Gains Tax

The rate of capital gains tax for individuals and trusts is 33%. (Effective for disposals made on or after 6 December 2012) with additional discounts available to entrepreneurs who re-invest their investment income back into a business.

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