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Taxopedia  ›  I  ›  Income Tax
I · Glossary

Income Tax

UK tax on earnings, profits, pensions, savings and dividends.

Income tax is the UK tax on most types of income — employment, self-employment, pensions, rental, savings, dividends. Personal Allowance £12,570; rates 20%/40%/45% (2025/26). Scotland has different bands.

Related terms

Personal AllowanceTax-free annual income — £12,570 (2025/26), tapered above £100,000.Basic tax rate20% UK income tax band, on income from £12,571 up to £50,270.Higher Rate Tax40% UK income tax band, on income from £50,271 to £125,140.

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