Tax Brackets 2024/25. £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. Use the simple tax calculator to work out just the tax you owe on your taxable income for the full income year.
10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent. The financial year for tax purposes for individuals starts on 1st july and ends on 30 june of the following year.