Part 1Income tax, corporation tax and capital gains tax

Income tax charge, rates etc

3Default and savings rates of income tax for tax year 2023-24

1

For the tax year 2023-24 the default rates of income tax are as follows—

a

the default basic rate is 20%,

b

the default higher rate is 40%, and

c

the default additional rate is 45%.

2

For the tax year 2023-24 the savings rates of income tax are as follows—

a

the savings basic rate is 20%,

b

the savings higher rate is 40%, and

c

the savings additional rate is 45%.