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TaxJune 2025 · 5 min read

UK Tax Bands Explained: What You Actually Pay in 2024/25

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One of the most common misconceptions about UK income tax is that earning more always means paying a higher rate on all of your income. That's not how it works. The UK uses a progressive tax system — you only pay each rate on the portion of income that falls within that band.

The 2024/25 Tax Bands

BandIncomeRate
Personal allowanceUp to £12,5700%
Basic rate£12,571 – £50,27020%
Higher rate£50,271 – £125,14040%
Additional rateOver £125,14045%

A Real Example

Say you earn £60,000 a year. Here's exactly how your tax is calculated:

£0 – £12,570 → 0% = £0 tax
£12,571 – £50,270 → 20% on £37,700 = £7,540 tax
£50,271 – £60,000 → 40% on £9,730 = £3,892 tax
Total income tax: £11,432

Your marginal rate is 40% (the highest band you're in), but your effective rate — what you actually pay as a proportion of total income — is around 19%. This distinction matters when making decisions about salary sacrifice, pension contributions or overtime.

The Personal Allowance Trap

There's a hidden tax trap for higher earners. If your income exceeds £100,000, your personal allowance is reduced by £1 for every £2 you earn above that threshold. By £125,140, your personal allowance is gone entirely — creating an effective 60% marginal rate on income between £100,000 and £125,140.

This is why many people in this income range make additional pension contributions to bring their taxable income below £100,000.

National Insurance on Top

Income tax is only part of what comes out of your pay. Employee National Insurance adds a further 8% on earnings between £12,570 and £50,270, and 2% above that. For the full picture of your take-home pay, both need to be factored in.

See your exact take-home pay with our free tool

Open UK Tax Calculator →