What Are The Tax Brackets For 2024 Uk . That means the first £12,570 that an individual earns in. The basic rate (20%), the higher rate (40%), and the additional rate (45%).
£12,570 of your £50,000 is tax free, the remaining £37,430 falls within the basic rate tax band and is charged at 20pc giving you a tax. If you’re in doubt as to the suitable course of action we recommend you seek tax advice.
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