Text for the 20/40/45 % – these figures reflect the income tax bracket of the individual and this information can be found on your payslip.
In brief please review the bands for your annual income below :-
Band | Taxable income | Tax rate |
Personal Allowance | Up to £11,850 | 0% |
Basic rate | £11,851 to £46,350 | 20% |
Higher rate | £46,351 to £150,000 | 40% |
Additional rate | over £150,000 | 45% |
Helpful articles about company car tax for leased cars:-
