Personal tax allowance

In addition to tax-efficient accounts such as ISAs and SIPPs, you are entitled to further tax relief when saving / investing.

Personal Savings Allowance

Your personal savings allowance enables you to earn an amount of tax-free savings income each year, depending on your tax band.

Tax-free savings income allowance

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2017/18
2018/19
Basic rate taxpayers £1,000 £1,000
Higher rate taxpayers £500 £500
Additional rate taxpayers - -

Income earned in tax-efficient accounts, such as ISAs and SIPPs, does not count towards your personal savings allowance.

Dividend Allowance

Your dividend allowance allows you to earn dividend income free of tax.

2017/18 £5,000
2018/19 £2,000
Income Tax on dividend income in excess of allowance
Basic rate taxpayers 7.5%
Higher rate taxpayers 32.5%
Additional rate taxpayers 38.1%

Income earned in tax-efficient accounts, such as ISAs and SIPPs, does not count towards your dividend allowance.

Income Tax Personal Allowance

Both your Personal Savings Allowance and your Dividend Allowance are in addition to your Income Tax Personal Allowance, which is £11,500 for the 2017/2018 tax year, increasing to £11,850 in 2018/19.

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Please get in touch with our customer service team.

Email: service@share.co.uk

Phone: 01296 41 41 41

Write: The Share Centre, PO Box 2000, Aylesbury, Bucks. HP21 8ZB

We're open between 8:00am and 6:00pm, Monday to Friday (except public holidays).