What Are The Income Tax Brackets For 2024 Uk. Up to £12,570 basic tax rate at 20%: Lowering the average tax rate on income the effective personal tax rate is defined as the employee national insurance and income tax paid as a proportion of an individual’s.

Please note it is taxable income which applies in this assessment, including earnings, pensions in payment, cash interest, fixed interest income,. Tax is paid on the amount of taxable income remaining after the personal allowance has been deducted.