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UK income tax rates for tax year 2018/2019

We've updated this guide on 15th February 2021

For tax year 2018/2019 the UK basic income tax rate was 20%. This increases to 40% for your earnings above £46,350 and to 45% for earnings over £150,000.

Your earnings below £11,850 are tax free. This is called the personal allowance. However for every £2 you earn over £100,000 this allowance is reduced by £1.

IncomeTax rate
Up to £11,8500%Personal allowance
£11,851 to £46,35120%Basic rate
£46,351 to £150,00040%Higher rate
over £150,00045%Additional rate

How to calculate it

You can also use this calculator and select the 2018/2019 tax year so you can see how much income tax you should have paid.

Annual self-employment income
£
Self-employment expenses
£
Select tax year
Income after tax
£37,986
Income tax
£7,300
NI
£3,714
Total income tax
£7,300
£12,500 taxed at 0%
£36,500 taxed at 20% : £7,300
Total NI contributions
£3,714
Class 2 NI: £159
Class 4 NI at 9% : £3,555
What you’re left with
£37,986

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How your income tax is calculated

As a self-employed you have to pay your income tax and national insurance contributions yourself during your annual self assessment. Our calculator helps you quickly assess how much payment is due.

However you may be eligible for a tax refund when:

  1. You already made tax payments for the year but your annual income ended up smaller than planned
  2. You have done things that qualify for tax relief (made private pension contributions, give to charity, etc)

In your case when you earn £49,000:

Income tax breakdown

You pay no income tax on first £12,500 that you make

You pay £7,300 at basic income tax rate (20%) on the next £36,500

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