Finley
Rates, allowances and policy changes for UK savers, investors and homeowners, taken from official sources. Updated 8 November 2026.
4%
3.5%
2.08%
| 2-year fixed, 60% LTV | 5.25% |
|---|---|
| 2-year fixed, 75% LTV | 5.39% |
| 2-year fixed, 90% LTV | 5.6% |
| 2-year fixed, 95% LTV | 5.88% |
| 3-year fixed, 75% LTV | 5.18% |
| 5-year fixed, 75% LTV | 5.19% |
| 2-year variable, 75% LTV | 4.22% |
| Revert-to rate (SVR) | 6.58% |
| Electricity | Gas | Typical year | |
|---|---|---|---|
| Now1 October 2026 – 31 December 2026 | 26.32p54.83p/day | 7.97p29.68p/day | £1,723 |
From 6 April 2027 money market funds are qualifying investments for the stocks and shares component, provided not all non-cash investments held are money market funds, and are listed as a cash component qualifying investment.
From 6 April 2027, the Cash ISA limit falls to £12,000 for under-65s (over-65s keep £20,000); the £20,000 overall ISA limit is unchanged. Interest on cash held in stocks and shares or innovative finance ISAs is charged at the savings basic rate (22% for 2027-28), and transfers from those ISAs into a cash ISA are allowed only if the saver is 65 or over.
From 6 April 2027, most unused (uncrystallised) pension funds and pension death benefits count toward the deceased's estate for Inheritance Tax. Death-in-service benefits and assets passing to a spouse/civil partner are excluded.
From 6 April 2027, property income is taxed at its own rates: 22% basic, 42% higher and 47% additional.
From 6 April 2027, tax on savings interest above your allowances rises to 22% (basic), 42% (higher) and 47% (additional).
From April 2028, electric and plug-in hybrid cars pay a per-mile charge on top of Vehicle Excise Duty: 3p a mile for fully electric cars and 1.5p for plug-in hybrids, rising with CPI.
Autumn Budget 2025 announced a new annual surcharge, from £2,500 to £7,500, on owners of English homes worth £2 million or more, starting April 2028, collected by councils but retained by central government.
The personal allowance (£12,570), higher rate threshold (£50,270), additional rate threshold (£125,140) and linked National Insurance thresholds stay frozen until 5 April 2031, three years longer than previously set.
From 6 April 2028, the earliest age most people can access private/workplace pensions without a tax charge rises from 55 to 57. Uniformed public service schemes and some protected members are excluded.
From April 2029, only the first £2,000/year of salary-sacrificed pension contributions is exempt from NICs; amounts above that are treated as ordinary earnings and taxed with NICs.
Autumn Budget 2025 extended the freeze on the £325,000 nil-rate band and £175,000 residence nil-rate band (plus its £2m taper start and the £1m 100% agricultural/business property relief allowance) by one further year, to 5 April 2031.
Government is consulting (responses due 18 Aug 2026) on replacing the LISA with a First Time Buyer ISA that drops the 25% unauthorised-withdrawal penalty; property price cap, contribution limits and bonus rate are not yet decided.
| Rule | Now | Next |
|---|---|---|
| Personal allowance | £12,570 | £12,570 from 6 April 2027 · Law |
| Income limit for personal allowance (taper starts) | £100,000 | |
| Basic rate band upper limit (England, Wales & NI)England, Wales & NI | £37,700 | |
| Basic rate (England, Wales & NI)England, Wales & NI | 20% | |
| Higher rate threshold, gross income (England, Wales & NI)England, Wales & NI | £50,270 | |
| Higher rate (England, Wales & NI)England, Wales & NI | 40% | |
| Additional rate threshold, gross income (England, Wales & NI)England, Wales & NI | £125,140 | |
| Additional rate (England, Wales & NI)England, Wales & NI | 45% | |
| Starter rate (Scotland)Scotland | 19% | |
| Basic rate (Scotland)Scotland | 20% | |
| Intermediate rate (Scotland)Scotland | 21% | |
| Higher rate (Scotland)Scotland | 42% | |
| Advanced rate (Scotland)Scotland | 45% | |
| Top rate (Scotland)Scotland | 48% | |
| Marriage allowance transfer amount | £1,260 | |
| Making Tax Digital for Income Tax - qualifying income threshold (based on 2024-25 tax year) | £50,000 |
| Rule | Now | Next |
|---|---|---|
| Class 1 employee primary threshold | £12,570 | |
| Class 1 employee upper earnings limit | £50,270 | |
| Class 1 employee main rate (between PT and UEL) | 8% | |
| Class 1 employee rate above UEL | 2% | |
| Class 4 (self-employed) lower profits limit | £12,570 | |
| Class 4 (self-employed) upper profits limit | £50,270 | |
| Class 4 (self-employed) main rate | 6% | |
| Class 4 (self-employed) rate above UPL | 2% |
| Rule | Now | Next |
|---|---|---|
| ISA overall annual subscription limit | £20,000 | |
| Lifetime ISA annual contribution limit | £4,000 | |
| Lifetime ISA government bonus | 25% | |
| Lifetime ISA — must open/first pay in before age | 40 years | |
| Lifetime ISA — can contribute until age | 50 years | |
| Lifetime ISA unauthorised withdrawal charge | 25% | |
| Junior ISA annual subscription limit | £9,000 | |
| Cash ISA annual limit for savers under 65 (post-reform) | Not yet in effect | £12,000 from 6 April 2027 · Law |
| Cash ISA annual limit for savers aged 65+ (post-reform) | Not yet in effect | £20,000 from 6 April 2027 · Announced |
| Flat rate charge on interest/alternative finance return on cash deposits in a stocks and shares or innovative finance ISA | Not yet in effect | savings basic rate in force for the year under section 7A of ITA 2007 from 6 April 2027 · Law |
| Rule | Now | Next |
|---|---|---|
| Personal savings allowance (basic rate) | £1,000 | |
| Personal savings allowance (higher rate) | £500 | |
| Personal savings allowance (additional rate) | £0 | |
| Starting rate for savings band | £5,000 | |
| Savings income tax rate (basic rate) | 20% | 22% from 6 April 2027 · Law |
| Savings income tax rate (higher rate) | 40% | 42% from 6 April 2027 · Law |
| Savings income tax rate (additional rate) | 45% | 47% from 6 April 2027 · Law |
| Rule | Now | Next |
|---|---|---|
| Pension annual allowance | £60,000 | |
| Tapered annual allowance - threshold income limit | £200,000 | |
| Tapered annual allowance - adjusted income limit | £260,000 | |
| Tapered annual allowance - minimum (floor) | £10,000 | |
| Money purchase annual allowance (MPAA) | £10,000 | |
| Lump sum allowance (LSA) | £268,275 | |
| Lump sum and death benefit allowance (LSDBA) | £1,073,100 | |
| Annual allowance carry-forward period | 3 years | |
| Normal minimum pension age | 55 years | 57 years from 6 April 2028 · Law |
| Salary sacrifice pension employer/employee NICs relief cap | Not yet in effect | £2,000 from 6 April 2029 · Law |
| Automatic enrolment earnings trigger | £10,000 | |
| Qualifying earnings band - lower limit | £6,240 | |
| Qualifying earnings band - upper limit | £50,270 | |
| Automatic enrolment minimum employer contribution | 3% | |
| Automatic enrolment minimum total contribution | 8% |
| Rule | Now | Next |
|---|---|---|
| New State Pension - full weekly rate | £241.30 a week | |
| Basic State Pension - full weekly rate (Category A/B) | £184.90 a week | |
| State Pension uprating percentage 2026-27 and reason | 4.8% | |
| Qualifying years needed for full new State Pension | 35 years | |
| Minimum qualifying years for any new State Pension | 10 years | |
| State Pension age rise to 67 - transition start date | 6 May 2026 | |
| State Pension age rise to 67 - completion date | Not yet in effect | 6 March 2028 from 6 March 2028 · Law |
| State Pension age rise to 68 - legislated window | Not yet in effect | 2044-2046 from 1 May 2044 · Law |
| Rule | Now | Next |
|---|---|---|
| Child Benefit - eldest/only child weekly rate | £27.05 a week | |
| Child Benefit - each additional child weekly rate | £17.90 a week | |
| High Income Child Benefit Charge - lower (adjusted net income) threshold | £60,000 | |
| High Income Child Benefit Charge - upper threshold (full charge) | £80,000 | |
| Universal Credit standard allowance - single, under 25 | £338.58 a month | |
| Universal Credit standard allowance - single, 25 or over | £424.90 a month | |
| Universal Credit standard allowance - couple, both under 25 | £528.34 a month | |
| Universal Credit standard allowance - couple, one or both 25+ | £666.97 a month | |
| Universal Credit work allowance - no housing element claimed | £710 a month | |
| Universal Credit work allowance - housing element claimed | £427 a month | |
| Universal Credit taper rate | 55% |
| Rule | Now | Next |
|---|---|---|
| Student loan Plan 1 repayment threshold | £26,900 | |
| Student loan Plan 2 repayment threshold | £29,385 | |
| Student loan Plan 4 (Scotland) repayment threshold | £33,795 | |
| Student loan Plan 5 repayment threshold | £25,000 | |
| Postgraduate Loan repayment threshold | £21,000 | |
| Student loan repayment rate - Plans 1, 2, 4, 5 | 9% | |
| Student loan repayment rate - Postgraduate Loan | 6% |
| Rule | Now | Next |
|---|---|---|
| SDLT nil-rate threshold (standard residential, single property)England & NI | £125,000 | |
| SDLT first-time buyer relief nil-rate thresholdEngland & NI | £300,000 | |
| SDLT first-time buyer relief maximum property priceEngland & NI | £500,000 | |
| SDLT higher rate surcharge for additional dwellingsEngland & NI | 5% | |
| SDLT non-UK resident surchargeEngland & NI | 2% | |
| LBTT nil-rate threshold (standard residential)Scotland | £145,000 | |
| LBTT first-time buyer relief nil-rate thresholdScotland | £175,000 | |
| LBTT Additional Dwelling Supplement (ADS) rateScotland | 8% | |
| LTT nil-rate threshold (main residential rates)Wales | £225,000 | |
| Lifetime ISA maximum property price for first-home withdrawal | £450,000 |
| Rule | Now | Next |
|---|---|---|
| Consumer Duty in-force date for open products and services | 31 July 2023 | |
| Consumer Duty in-force date for closed products and services | 31 July 2024 |
The next UK Budget is on Wednesday 28 October 2026, with an OBR forecast. Tax and benefit changes may be announced then.
VAT on domestic electricity is 0% instead of 5% for supplies from 1 October 2026 to 31 March 2027. Northern Ireland keeps the 5% reduced rate.
The Universal Credit child element two-child limit is abolished from 6 April 2026, so the child element is paid for all qualifying children rather than only the first two, for new and existing claims.
Sole traders and landlords whose qualifying income exceeded £50,000 in 2024-25, and who are not exempt, must keep digital records, send quarterly updates and file through compatible software for 2026-27. HMRC is signing up those who have not signed up themselves from September 2026.
From 6 April 2026, new holdings of UK cryptoasset exchange traded notes belong in an innovative finance ISA, not a stocks and shares ISA. Holdings from before that date can stay. Long-term asset funds move the other way, into stocks and shares ISAs.
Since 6 April 2026, authorised firms can offer targeted support: suggestions about pensions and investments made to groups of consumers in similar circumstances, without a personal recommendation.
Autumn Budget 2025 raised dividend tax rates: ordinary rate from 8.75% to 10.75% and upper rate from 33.75% to 35.75%, from 6 April 2026; the additional rate stays at 39.35%.
The automatic enrolment earnings trigger (£10,000) and qualifying earnings band (£6,240-£50,270) are held at 2025-26 levels for 2026-27 rather than increased.
From 1 December 2025, FSCS protects up to £120,000 per person per authorised bank, building society or credit union, up from £85,000.
The temporary SDLT cuts from the 2022 mini-budget expired: standard nil-rate band fell from £250,000 to £125,000, and first-time buyer relief fell from £425,000/£625,000 cap to £300,000/£500,000 cap.
Wales replaced its flat 4% LTT surcharge on second homes/buy-to-let with a new banded structure (5%-17%) using its own separate thresholds.
Scottish Budget 2025-26 raised the LBTT surcharge on second homes and buy-to-let purchases from 6% to 8%, with transitional relief for contracts signed before the change.
From 31 October 2024, the SDLT surcharge on additional homes, including second homes and buy-to-let, rose from 3% to 5%.