UK pension & tax rates 2024/25

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)

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.

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Personal allowance — withdrawn from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

Personal allowance — 0%

first £12,570UK-wide; the bands below assume it in full

Starter rate — 19%

£12,571 to £14,876of income

Scottish basic rate — 20%

£14,877 to £26,561of income

Intermediate rate — 21%

£26,562 to £43,662of income

Higher rate — 42%

£43,663 to £75,000of income

Advanced rate — 45%

£75,001 to £125,140of income

Top rate — 48%

£125,141 and aboveof income

Bands are shown as gross-income boundaries on gov.scot's published basis, assuming the full £12,570 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.

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).

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%

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

Tax-Free Childcare — annual cap (per child / disabled child)

£2,000 / £4,000

Eligibility cliff — adjusted net income

£100,000if either parent expects ANI above this, the household does not qualify for Tax-Free Childcare or England’s working-parent entitlement

Tax-Free Childcare is a top-up on eligible spend, up to the cap. Funded-hours eligibility and value vary by age, UK nation, provider and entitlement period; England’s universal 15 hours for 3- and 4-year-olds are separate.

Trust rate

45%

Trust dividend rate

39.35%

CGT annual exempt amount

£3,000

CGT rates (basic / higher) — disposals before 30 October 2024

10% / 20%assets other than residential property

CGT rates (basic / higher) — disposals from 30 October 2024

18% / 24%assets other than residential property

CGT rates (basic / higher) — residential property

18% / 24%unchanged across the whole tax year

ISA annual subscription limit

£20,000

ParaplanAI does not compute CGT — these figures sit in the reference for the wrapper comparison, which applies the single post-30 October 2024 pair to the whole 2024/25 year and will therefore over-state the drag on a wholly pre-30 October 2024 disposal.