Current UK Income Tax is chargeable against most earned income, including PAYE earnings, dividends, interest and so forth. There are various rates at which Income Tax is charged, ranging from 10% through to 40%.

The government provides every UK taxpayer with a personal allowance of £6,035 per year. All income earned or received up to this allowance should not attract any Income Tax. If you think you have paid income tax whilst below this limit, we recommend that you contact to your local HW Chartered Accountants tax adviser.

Following your personal allowance, there are three main bands, with tax payable at 10%, 20% and 40%. Each band is specified by the HM Revenue & Customs (HMRC), with the higher rate band covering all income above the upper limits.

It is important that you maximise the reliefs and benefits available to you, which is where HW Chartered Accountants can help. Our dedicated teams of tax advisers can provide you with advice and services to meet your individual requirements, from arranging completion of your tax return, to maximising your allowances and reliefs for your income and earnings.

If you would like to dicuss how we can help or for more information please contact your local office.