Brendan Burgess
Founder
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I have no experience of UK tax, so would welcome any corrections.
https://www.gov.uk/income-tax-rates/income-tax-rates
UK single person income taxes
Personal allowance{br} £10,000|0%
next £32,000|20%|
£32,000 to £150,000|40%
£150,000 +|45%National insurance: 12% up to £40,000 - 2% above this
If your income’s over £100,000
Your Personal Allowance goes down by £1 for every £2 that your income’s above £100,000. This means your allowance is zero if your income’s £120,000 or above.
Pensions are the same
You get tax relief at the marginal rate
CGT https://www.gov.uk/capital-gains-tax
£11,000 exemption every year - £22,000 for married couples
After that, CGT at 18% or 28% depending on your marginal tax rate
ISAs
A person can save up to £15,000 a year in an ISA. The income and Capital Gains are free of all taxes.
https://www.gov.uk/income-tax-rates/income-tax-rates
UK single person income taxes
next £32,000|20%|
£32,000 to £150,000|40%
£150,000 +|45%
If your income’s over £100,000
Your Personal Allowance goes down by £1 for every £2 that your income’s above £100,000. This means your allowance is zero if your income’s £120,000 or above.
Pensions are the same
You get tax relief at the marginal rate
CGT https://www.gov.uk/capital-gains-tax
£11,000 exemption every year - £22,000 for married couples
After that, CGT at 18% or 28% depending on your marginal tax rate
ISAs
A person can save up to £15,000 a year in an ISA. The income and Capital Gains are free of all taxes.