Basic tax rate
The Basic tax rate is the rate of tax that you pay on the portion of your income between your Personal Allowance (12,500 in the 2020/21 tax year) and the basic rate threshold (50,000 in the 2020/21 tax year).
The current basic tax rate is 20%.
Hey there! We really hope this article helped you. Tax matters can be a dreadful topic at times. We know. That's why we started TaxScouts.
A stress-free way to getting your taxes done.
Have a minute? See how it works