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Otley: 01943855700  Mob: 07918167134  email: amy@bfandsl.co.uk

Work Smarter, Increase Profitability, Re-Invest Wisely

We’ll help you develop clear long, medium and short term goals for what you
want to achieve and develop a roadmap to get you there.

Tailored Advice For Your Business Needs

We act for a wide range of businesses and offer services and packages
ideally tailored to suit your requirements.

Income Tax Rates and Bands

Recent income tax rates and bands are as follows:

2017/18 2018/19 2019/20
Savings rate: 10%, 0% from 2015/16 0 - £5,000 0- £2,000 0- £2,000
Dividend Allowance: 20% NA 0 - £5,000 0 - £5,000
Basic rate: 20% 0 - £33,500 0 - £34,500 0 - £37,500
Higher rate: 40% £33,501 - £150,000 £34,501 - £150,000 £37,501 - £150,000
Additional rate: 45% Over £150,000 Over £150,000 Over £150,000

When the personal allowance is taken into account an individual will start to pay tax at 40% when their total income exceeds £6,350 in 2018/19. This is expected to rise to £50,000 for 2018/19. This threshold (and the 45% threshold) can be increased if the taxpayer pays personal pension contributions or makes gift aid donations.

For 2017/18 the basic rate band on non-savings income for Scottish Taxpayers is set at £43,000. For all other income types it remains in line with the main UK band of £45,000.

Scottish Income Tax Rates and Bands for non-savings income

2018/19 2019/20
Starter rate: 19% Up to £2,000 Up to £2,050
Basic rate: 20% £2,001 to £12,150 £2,051 to £12,445
Intermediate rate: 21% £12,151 to £31,580 £12,446 to £30,930
Higher rate: 41% £31,581 - £150,000 £30,931 to £150,000
Additional rate: 46% Over £150,000 Over £150,000
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All initial consultations are free of charge. We are here to help young and growing as well as established businesses to realise their full potential.

We believe that all entrepreneurs have an inherent genie which we try to help them realise to release.