Tax Brackets For 2024 Tax Year Uk. Uk income tax rates and brackets for 2024/25. Tax is paid on the amount of taxable income remaining after the personal allowance has been deducted.

Rates, allowances for income tax have been updated for the tax. £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 bill of £.