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UK pension & tax rates 2024/25
You are viewing the 2024/25 archive. See the current tax year →
Figures for the 2024/25 tax year (6 April 2024 to 5 April 2025), as at 25 July 2026. Every figure is read from the engine’s versioned configurations (2024-25-v1.17, and 2023-24-v1.18 for CGT on disposals before 30 October 2024; its figures are verified against official sources, verification dated 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 | £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 limit — basic amount | £3,600gross; relief is available on the greater of this and relevant UK earnings (relief-at-source schemes) |
| DB revaluation — prior-September CPI | 6.7%applied to the DB opening value (FA 2004 s.235) |
Source: PTM055100 · PTM057100 · PTM056510 · FA 2004 s.190 & s.235 · PTM053301PTM055100 · PTM057100 · PTM056510 · PTM053301 · Apply it: Annual allowance · Tapered AA · MPAA · Carry forward · DB input amount
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| 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. ParaplanAI’s calculators do not calculate a lump sum for a member with enhanced protection. Nor do they calculate an uncrystallised funds pension lump sum for one with primary protection, or a primary protection pension commencement lump sum above the standard lump sum and death benefit allowance still available, and they stop where they cannot count a primary protection member’s benefits taken before 6 April 2024, for example when lump sum protection is also registered. Confirm those with the scheme administrator.
Source: FA 2024 Sch 9 · PTM171000 · PTM172000 · PTM174700PTM171000 · PTM172000 · PTM174700 · Apply it: LSA · LSDBA · TTFAC calculator
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| 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 |
Source: ITA 2007 s.10 & s.35 (rates, bands, personal-allowance withdrawal) · Apply it: Income tax · £100k tax trap · Adjusted net income
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| 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 and no relief-at-source pension contributions or Gift Aid. Tax is charged on taxable income, so where the allowance is reduced (adjusted net income over £100,000) the top rate (from £125,141) does not move, because the allowance is already nil there, while the boundaries below it fall by the amount of the reduction. Relief-at-source pension contributions and Gift Aid extend the Scottish basic-rate band and every band above it, so the top rate starts higher by the grossed-up amount (FA 2004 s.192(4A); ITA 2007 s.414(2)). The taxable band widths behind these boundaries are published in the JSON dataset for this year.
Source: 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.Savings, dividends, the personal allowance and its withdrawal are UK-wide. · Apply it: Income tax (Scottish taxpayer option) · £100k tax trap (Scottish taxpayer option)
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| 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% |
Inside top-slicing relief the personal allowance is recalculated at the annual-equivalent slice (FA 2020), and for gains from 6 April 2021 the PSA and starting rate for savings are recalculated there too (IPTM3820).
Source: 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
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| 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% |
Source: SSCBA 1992 s.8 (employee) & s.9 (employer) · Apply it: Salary sacrifice
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| 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 |
Source: ITEPA 2003 s.681B–681H · SSCBA 1992 s.141 · Apply it: HICBC · Adjusted net income
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| 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.
Source: Childcare Payments Act 2014 s.1 & Childcare Act 2016 (funded hours) · Apply it: £100k tax trap
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| Trust rate | 45% |
|---|---|
| Trust dividend rate | 39.35% |
Source: ITA 2007 s.9 & s.479 · Apply it: Onshore bond tax · Offshore bond tax
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026.
| CGT annual exempt amount | £3,000 |
|---|---|
| CGT rates (basic / higher) — disposals before 30 October 2024 | 10% / 20%excluding residential property and carried interest gains |
| CGT rates (basic / higher) — disposals from 30 October 2024 | 18% / 24%excluding carried interest gains |
| CGT rates (basic / higher) — residential property | 18% / 24%unchanged across the whole tax year |
| ISA annual subscription limit | £20,000 |
ParaplanAI has no stand-alone CGT calculator; the signed-in wrapper tax comparison uses these rates for the general investment account. It applies the single post-30 October 2024 rate pair to the whole 2024/25 year, so it will over-state the drag on a disposal made wholly before 30 October 2024.
Source: TCGA 1992 s.1K & s.1H (as amended by F(No.2)A 2024 s.6 and FA 2025 s.7) · HMRC CG10246, CG10245 · ITTOIA 2005 s.694 (ISA regulations)CG10246 · CG10245 · Apply it: Pension vs ISA (ISA limit only)
Configuration 2024-25-v1.17; its figures are verified against official sources, verification dated 25 July 2026. The rates for disposals before 30 October 2024 are read from configuration 2023-24-v1.18, verification dated 25 July 2026.
The 2024/25 figures come from configuration 2024-25-v1.17; the verification is dated 2026-07-25, and its figures are verified against official sources. The figures are unchanged since configuration 2024-25-v1.16; later versions changed only the source notes. 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 2024-25-v1.17; its figures are verified against official sources, verification dated 2026-07-25.