Tx notes fa22 Final

June 2023 to March 2024 exams
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June 2023 to March 2024 exams
Watch free ACCA TX lectures
FA 2022
TAX RATES AND ALLOWANCES 
The following tax rates and allowances will be reproduced in the examination paper for Paper (TX-
UK). In addition, other specific information necessary for candidates to answer individual questions 
will be given as part of the question. 
Income Tax 
The savings income nil rate bands are £1,000 for a basic rate taxpayer and £500 for a higher rate 
taxpayer.
A starting rate of 0% applies to taxable savings income where it falls within the first £5,000 of 
taxable income.
The dividend income nil rate band is £2,000.
Personal Allowance
Where adjusted net income is £125,140 or more the personal allowance is reduced to zero.
Residence status 
Days in UK 
Previously resident 
Not previously resident 
Less than 16 
Automatically not resident 
Automatically not resident
16 to 45 
Resident if 4 UK ties (or more) 
Automatically not resident
46 to 90 
Resident if 3 UK ties (or more) 
Resident if 4 UK ties
91 to 120 
Resident if 2 UK ties (or more) 
Resident if 3 UK ties (or more)
121 to 182 
Resident if 1 UK tie (or more) 
Resident if 2 UK ties (or more)
183 or more 
Automatically resident 
Automatically resident
Normal 
rates
Dividend 
rates
Basic rate
£1 – £37,700
20%
8.75%
Higher rate
£37,701 – £150,000
40%
33.75%
Additional rate
£150,001 and over
45%
39.35%
£
Personal Allowance
12,570
Transferable amount
1,260
Income limit
100,000

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