Tag Archives: tax

Tax Rates & Bands Card for 2020-21- A Discussion!

THE INCOME TAX ALLOWANCE BETWEEN THE 2019-20 & 2020-21 ARE AS FOLLOWS Personal allowance: £12,500 (for 2020-21) similar to 2019-20. But this allowance was reduced by £1 for every £2 income from £100,000 to £125,000. Personal allowance income limit; £100,000 (consistent with 2019-20) Basic rate tax payer- £1000 (for 2020-21 & 2019-20) Higher rate tax … Continue reading Tax Rates & Bands Card for 2020-21- A Discussion!