INCOME TAX
2016/17
2017/18
Basic rate band - income up to
Starting rate for savings
Basic rate
Dividend ordinary rate
Higher rate - income over
Higher tax rate
Dividend upper rate
Additional rate - income over
Additional rate
Dividend additional rate
Starting Rate Limit (Savings Income)
£32,000
*0%
20%
**7.5%
£32,000
40%
**32.5%
£150,000
45%
**38.1%
*£5000
£33,500
*0%
20%
**7.5%
£33,500
40%
**32.5%
£150,00
45%
**38.1%
*£5,000
For Scottish Taxpayer only the limit is. £31,500
*If an Individual's taxable non-savings income exceeds the starting rate limit, then the starting rate limit for savings will not be available for savings income. £1000 of savings income for basic rate taxpayers (£500 higher rate) may be tax free.
**For the first £5000 of dividends are tax free.
Personal Allowance (PA)
£11,000
£11,000
Married Couples Allowance (MCA) (relief restricted to 10%)    
Either partner born before 6 April 1935
*£8,355
*£8,445
Transferrable Tax Allowance    
For certain married couples (relief 20%) £1,100 £1,150
*Allowances are reduced by £1 for every £2 that adjusted net income exceeds £28,700 (27,700) to a minimum MCA of £3,260 ( £3,220). where adjusted net income exceeds 100,000, PA is reduced in the same way until it is nil regardles if individuals date of birth.
Tax Shelters
Enterprise Investment Scheme (EIS) up to
£1,000,000
£1,000,000
Seed Enterprise Investment Scheme up to
£100,000
£100,000
Venture Capital Trust (VCT) up to
£200,000
£200,000
Social Investment tax relief
£1000,000
£1000,000
Taxfree savings accounts for 2017/18
ISA subscruption limit £20,000, junior ISA and CTF subscription limit £4128
PENSIONS

Pensions: There is no financial limit on the amount that may be contributed to a registered pension scheme. The maximum amount on which an individual can claim tax relief in any tax year is the greater of the individual's UK relevant earnings or £3,600 (gross). If total pension input exceeds the annual allowance of £40,000 there may be tax charge on the excess. The annual allowance may be reduced by £1 for every £2 of adjusted income over £150,000 to a minimum of £10,000

Maximum age for tax relief
74
Minimum age for taking benefits
55
Life time allowance charge
-Lump sum paid
55%
-Monies retained
25%
On cumulative benefits exceeding
£1,000,000*
Maximum tax-free lump sum
25%*
*Subject to transitional protection for excess ammount