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Income Tax in the UK is charged on income above the Personal Allowance. The Personal Allowance is £12,570 for the 2026/27 tax year, and the rates above it are 20% (Basic), 40% (Higher) and 45% (Additional). Scotland sets its own rates.

Capital Gains Tax is charged on the gain from disposing of an asset, not the sale price. For the 2026-27 tax year the annual exempt amount is £3,000 and the main rates are 18% and 24%.

Savings interest can fall within an unused Personal Allowance, the starting rate for savings and the Personal Savings Allowance. These are separate rules, administered by HMRC.

Dividend income has its own allowance and rates. The allowance does not establish a taxpayer’s band, and dividends inside an ISA have separate exemption rules.

Contributions to a registered pension scheme attract tax relief at your marginal rate. The annual allowance caps the tax-free contribution at £60,000 for the 2026-27 tax year, and a tapered allowance applies for high earners.

The full new State Pension rate is a published weekly amount, not a promise of an individual award. The National Insurance record and transitional history affect entitlement.

State Pension age depends on date of birth. The legislated rise from 66 to 67 is phased across birth-date bands, with intermediate ages expressed in years and months.

Guarantee Credit tops up income rather than paying the standard minimum as a flat award. The published weekly minimum differs for a single person and a couple.

Stamp Duty Land Tax is a progressive tax on property price bands. The standard threshold is £125,000; first-time buyers buying a property up to £500,000 pay nothing on the first £300,000. Scotland and Wales have their own land transaction taxes.

Council Tax bands are based on the 1991 open-market value of a property. Parliament sets the band ranges across England, the Valuation Office places each property in a band, and the local council sets the actual amount payable.

The Lifetime ISA contribution limit and government bonus are separate from the conditions for taking money out. A property price cap is only one first-home withdrawal condition.

Private Residence Relief can remove Capital Gains Tax on a home sale when all the full-relief conditions apply. Time away and the final ownership period have separate rules.

Bank Rate anchors the rates banks charge each other; it is not the rate a saver is paid or a borrower is charged. The Monetary Policy Committee sets it at the rate the Bank of England pays to and charges on reserves.

An ISA wrapper shelters savings and investments from UK income tax and capital gains tax. The annual subscription limit, the Junior ISA limit, and the Lifetime ISA sub-limit are separate limits administered by HMRC.

The Financial Services Compensation Scheme protects eligible deposits up to £120,000 per eligible person per authorised firm. Firms that share a banking licence count as one firm, and qualifying temporary high balances are protected up to £1.4 million for six months.

Help to Save combines a monthly deposit limit with bonuses based on the highest balances saved. Eligibility depends on Universal Credit, take-home pay and residence.

Marriage Allowance transfers part of one spouse or civil partner’s Personal Allowance. Eligibility depends on both partners’ tax positions, and a backdated claim depends on eligibility in each earlier year.

The charge can recover some or all Child Benefit when an individual’s adjusted net income exceeds the published threshold. It is based on individual income, with rules identifying which partner pays.

Tax-Free Childcare adds government money to an eligible childcare account. The contribution rule, cap for each child, approved-provider requirement and household eligibility conditions are separate.

Child Benefit has a higher weekly rate for the eldest or only child and a separate rate for each additional child. Household changes and the tax charge have separate rules.

Class 1 National Insurance is deducted from an employee's earnings. The 2026-27 rates are 8% between the primary and upper earnings limits, and 2% above the upper limit.

UK student loans are repaid as a percentage of income above a plan-specific threshold. The threshold and rate depend on which plan the borrower is on, which is determined by when the course started and which student finance body handled the loan.

Statutory Maternity Pay and Statutory Sick Pay have different weekly-rate rules and payment periods. The published 2026–27 rates also have different start dates.

Statutory Paternity Pay and Statutory Shared Parental Pay are separate statutory payments with different leave periods and eligibility conditions.