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UK pension & tax rates 2024/25
You are viewing the 2024/25 archive. See the current tax year →
Every figure is read from the engine’s versioned 2024/25 configuration (2024-25-v1.14, HMRC-verified 2026-07-03) — 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
- £60,000
- Taper — threshold income gate
- £200,000
- Taper — adjusted income gate
- £260,000
- Taper — reduction
- £1 for every £2of adjusted income over £260,000
- Tapered allowance floor
- £10,000
- Money purchase annual allowance (MPAA)
- £10,000
- Relief without earnings — basic amount
- £3,600gross, for members with no relevant UK earnings
- DB revaluation — prior-September CPI
- 6.7%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
- Lump Sum Allowance (LSA)
- £268,275
- Lump Sum & Death Benefit Allowance (LSDBA)
- £1,073,100
- LSA / LSDBA — Fixed Protection 2012
- £450,000 / £1,800,000
- LSA / LSDBA — Fixed Protection 2014
- £375,000 / £1,500,000
- LSA / LSDBA — Fixed Protection 2016
- £312,500 / £1,250,000
Enhanced and primary protection carry their own transitional ceilings — the LSA and LSDBA calculators apply them per certificate.
FA 2024 Sch 9 · PTM171000 · PTM172000 · PTM176400 · Apply it: LSA · LSDBA · TTFAC
- Personal allowance
- £12,570
- Personal allowance — withdrawn from
- £100,000£1 for every £2 of adjusted net income; nil at £125,140
- Basic rate — 20%
- first £37,700of taxable income
- Higher rate — 40%
- £37,700 to £125,140
- Additional rate — 45%
- over £125,140
ITA 2007 s.10 & s.35 (rates, bands, personal-allowance withdrawal) · Apply it: £100k tax trap · Adjusted net income
- 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
- £500
- Dividend rates (ordinary / upper / additional)
- 8.75% / 33.75% / 39.35%
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 & s.12A–12B (starting rate, PSA) · ITA 2007 s.13A (dividend nil rate) · Apply it: Top-slicing relief · Chargeable event gain
- Employee — primary threshold
- £12,570
- Employee — upper earnings limit
- £50,270
- Employee — main / upper rate
- 8% / 2%
- Employer — secondary threshold
- £9,100
- Employer — rate
- 13.8%
SSCBA 1992 s.8 (employee) & s.9 (employer) · Apply it: Salary sacrifice
- Child Benefit (weekly, first / additional child)
- £25.60 / £16.95
- HICBC — starts at adjusted net income
- £60,000
- HICBC — clawback
- 1% per £200of adjusted net income over £60,000; full charge at £80,000
ITEPA 2003 s.681B–681H · SSCBA 1992 s.141 · Apply it: HICBC · Adjusted net income
- Tax-Free Childcare — annual cap (per child / disabled child)
- £2,000 / £4,000
- Eligibility cliff — adjusted net income
- £100,000either parent over the cliff loses Tax-Free Childcare and the extended funded hours
The value of funded hours varies by age, local authority and provider — the tax-trap calculator prices it as a labelled estimate.
Childcare Payments Act 2014 s.1 & Childcare Act 2016 (funded hours) · Apply it: £100k tax trap
- Trust rate
- 45%
- Trust dividend rate
- 39.35%
ITA 2007 s.9 & s.479 · Apply it: Chargeable event gain
- CGT annual exempt amount
- £3,000
- CGT rates (basic / higher)
- 18% / 24%
- 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
For planning and illustration purposes only. Verify all inputs against source documents. This reference does not constitute financial or tax advice. Figures from configuration 2024-25-v1.14, HMRC-verified 2026-07-03.