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UK pension & tax rates 2020/21
You are viewing the 2020/21 archive. See the current tax year →
Every figure is read from the engine’s versioned 2020/21 configuration (2020-21-v1.12, verified against official sources on 2026-07-25) — the same constants the calculators compute against, so this reference cannot drift from a calculated result.
Also available as machine-readable JSON.
- Standard annual allowance
- £40,000
- Taper — threshold income gate
- £200,000
- Taper — adjusted income gate
- £240,000
- Taper — reduction
- £1 for every £2of adjusted income over £240,000
- Tapered allowance floor
- £4,000
- Money purchase annual allowance (MPAA)
- £4,000
- Relief without earnings — basic amount
- £3,600gross, for members with no relevant UK earnings
- DB revaluation — prior-September CPI
- 1.7%applied to the DB opening value (FA 2004 s.235)
PTM055100 · PTM057100 · PTM056510 · FA 2004 s.190 & s.235 · PTM053301 · Apply it: Annual allowance · Tapered AA · MPAA · Carry forward · DB input amount
- Personal allowance
- £12,500
- Personal allowance — withdrawn from
- £100,000£1 for every £2 of adjusted net income; nil at £125,000
- Basic rate — 20%
- first £37,500of taxable income
- Higher rate — 40%
- £37,500 to £150,000
- Additional rate — 45%
- over £150,000
ITA 2007 s.10 & s.35 (rates, bands, personal-allowance withdrawal) · Apply it: Income tax · £100k tax trap · Adjusted net income
- Personal allowance — 0%
- first £12,500UK-wide; the bands below assume it in full
- Starter rate — 19%
- £12,501 to £14,585of income
- Scottish basic rate — 20%
- £14,586 to £25,158of income
- Intermediate rate — 21%
- £25,159 to £43,430of income
- Higher rate — 41%
- £43,431 to £150,000of income
- Top rate — 46%
- £150,001 and aboveof income
Bands are shown as gross-income boundaries on gov.scot's published basis, assuming the full £12,500 personal allowance — where the allowance is reduced (adjusted net income over £100,000) or increased, every boundary shifts by the same amount. The engine works in taxable income; the taxable band widths behind these boundaries are published in the JSON dataset for this year.
Scotland Act 2016 s.13; rates set by the Scottish Parliament (gov.scot). ITA 2007 s.35 (personal allowance). Savings, dividends, the personal allowance and its withdrawal are UK-wide. · Apply it: Income tax (Scotland toggle) · £100k tax trap (Scotland toggle)
- Personal savings allowance (basic / higher / additional)
- £1,000 / £500 / £0
- Starting rate for savings
- 0% on up to £5,000eroded £1-for-£1 by non-savings taxable income
- Dividend allowance
- £2,000
- Dividend rates (ordinary / upper / additional)
- 7.5% / 32.5% / 38.1%
The PSA and the starting rate for savings are the two allowances recalculated inside top-slicing relief for gains from 6 April 2021 (IPTM3820).
ITA 2007 s.12 & ss.12A–12B (starting rate, PSA) · ITA 2007 s.13A (dividend nil rate) · Apply it: Income tax · Top-slicing relief · Chargeable event gain
- Child Benefit (weekly, first / additional child)
- £21.05 / £13.95
- HICBC — starts at adjusted net income
- £50,000
- HICBC — clawback
- 1% per £100of adjusted net income over £50,000; full charge at £60,000
ITEPA 2003 s.681B–681H · SSCBA 1992 s.141 · Apply it: HICBC · Adjusted net income
- Trust rate
- 45%
- Trust dividend rate
- 38.1%
- Standard rate band
- £1,000
ITA 2007 s.9 & s.479 · Apply it: Chargeable event gain
- CGT annual exempt amount
- £12,300
- CGT rates (basic / higher)
- 10% / 20%
- ISA annual subscription limit
- £20,000
ParaplanAI does not compute CGT — these figures sit in the reference for the wrapper comparison.
TCGA 1992 s.1K & s.1H · ITTOIA 2005 s.694 (ISA regulations) · Apply it: Pension vs ISA
This 2020/21 configuration (2020-21-v1.12) was verified against official sources on 2026-07-25. Read the full list of sources and qualifiers.
For planning and illustration purposes only. Verify all inputs against source documents. This reference does not constitute financial or tax advice. Figures from configuration 2020-21-v1.12, verified against official sources 2026-07-25.