Tax and allowance information for England and Wales (2021/22):- Personal Allowance Capital Gains - Annual Exempt Amount 12,570 12,300 Interest - Tax free amounts: 1,000 (Basic); 500 (Higher); 0 (Additional). Also:- For low earners, up to 5,000 of interest may be taxed at 0% before applying the tax free amounts. Dividends - Tax free amount: 2,000 (Basic, Higher and Additional) Main Rates for Personal Taxation Rate Taxable Income in Excess of Personal Earned Interest Dividends Income Capital Capital Gain** Gain *** Allowance () Basic 0-37,700 20% 20% 7.5% 10% 18% Higher 37,701-150,000 40% 40% 32.5% 20% 28% Additional Over 150,000 45% 45% 38.1% 20% 28% *Reduced by 1 for each 2 of adjusted net income over 100,000 to minimum of zero. " *** Applies to investments, excluding residential property Applies to residential property but main residence is exempt UK Corporation Tax rate 19%