What are the tax brackets self employed and employee UK
In the UK for the tax year 2024/2025, the income tax rates are as follows:
- Personal Allowance (0% tax rate): Up to £12,570.
- Basic rate (20% tax rate): Earnings between £12,571 and £50,270.
- Higher rate (40% tax rate): Earnings between £50,271 and £125,140.
- Additional rate (45% tax rate): Income exceeding £125,140
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