Personal Allowances 
From 6 April 2022 
Personal allowance remains at £12,570. 
Higher rate threshold remains at £50,270. 
Personal savings allowance remains; - Basic rate taxpayers £1,000 - Higher rate taxpayers £500. 
Dividend allowance remains at £2,000. 
Personal allowance continues to be reduced by £1 for every £2 of income above the £100,000 limit. 
Transferrable marriage allowance remains at £1,260. 
Income tax rate and thresholds on non-savings, non-dividends income for Scottish/Welsh taxpayers will be set by the Scottish and Welsh Parliaments. 
Budget announced 
From 6 April 2022 
Dividend tax rates increased by 1.25% across all bands. 
Basic rate – 8.75%, Higher rate – 33.75%, Additional rate – 39.35% 
From 6 April 2024 
The basic rate of income tax is to be cut from 20% to 19%. The first cut to this banding in 16 years. 
Until 5 April 2026 
The personal allowance is frozen at £12,570. 
The higher rate threshold was frozen at £50,270. 
Although this technically isn’t an increase in income tax there will be an increase in tax take, in real terms, over the coming years. 
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