HM Revenue & Customs updated the rates and allowances for Income Tax for the 2023 to 2024 tax year on 6 April 20231. The publication, which covers the current tax year and the previous three, sets out the rates, allowances and bands that apply1.
The 6 April 2023 update stated that rates and allowances for Income Tax had been updated for 2023 to 20241. The same page records a series of later changes. On 14 December 2023 the Scotland tax rates and bands table was updated to confirm that the 42% higher rate and the 47% top rate for Income Tax apply for the 2023 to 2024 tax year1. That update also corrected the England, Northern Ireland and Wales additional rate for 2020 to 2021 to over £150,000, and corrected the Income Tax starting rate for savings for England, Northern Ireland, Wales and Scotland to 0%1.
On 15 January 2024 the historical and future rates section was updated for a Scottish Budget announcement on 19 December 20231. On 14 August 2024 the personal allowance rate for 2021 to 2022 was corrected to £12,570, the basic tax rate for England, Northern Ireland and Wales for 2021 to 2022 was corrected to £37,700, and the higher tax rate for those nations for 2021 to 2022 was corrected to £37,7011.
The page also records earlier corrections. On 13 April 2022 the basic rate band values for England and Northern Ireland and for Wales were corrected from £37,000 to £37,7001. On 9 December 2022 the rates for tax on dividends were updated1.
"Rates, allowances for Income Tax have been updated for the tax year 2023 to 2024."
The publication states that it includes all Income Tax rates, allowances and bands for the current and previous three tax years, and ways to find historical and future rates announced in previous budgets or financial statements1. The page has since been updated for later tax years, most recently 6 April 2026 for 2026 to 20271. The sources do not set out the full 2023 to 2024 rate tables, so the individual thresholds and rates for that year beyond those noted above have not been reported here.
Why it matters for households
The rates and allowances published for 2023 to 2024 determine how much Income Tax is deducted from pay, pensions and savings income for that year, and the bands within which different rates apply. The Scottish figures matter separately because Scotland sets its own rates and bands, and the December 2023 update confirmed the 42% higher rate and 47% top rate for 2023 to 20241. The corrections to earlier years, including the 2021 to 2022 personal allowance of £12,570 and the basic rate band of £37,700, affect the figures used for those years1. Households with dividend income are also affected by the December 2022 update to dividend tax rates1. Capital Gains Tax is separate from Income Tax and is not covered by these updates.
What happens next
The publication is updated at the start of each tax year. It was updated on 6 April 2025 for 2025 to 2026 and on 6 April 2026 for 2026 to 20271. Further updates to the historical and future rates section follow budget announcements1.
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