Tax Rates 2023/24





Income Tax
Annual investment limits
National Insurance Contributions
Vehicle Benefits
Tax-free mileage allowances
Capital Gains Tax
Corporation Tax
Main capital allowances
Property Taxes
Value Added Tax
Inheritance Tax
Key dates and deadlines
Useful rates
Registered Pensions 2023/24 2022/23
Annual Allowance (AA)* £60,000 £40,000
Lifetime Allowance (LTA) 1,073,100 1,073,100

Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600.

*Usually tapered down, to a minimum of £10,000 (2022/23: £4,000), when adjusted income exceeds £260,000 (2022/23: £240,000).

In 2023/24 there is no LTA charge on excess pensions savings. The maximum tax-free pension lump sum is £268,275 (25% of LTA), unless a higher amount is “protected”.

State pension (per week) 2023/24 2022/23
Old state pension £156.20 £141.85
New state pension 203.85 185.15