UK Income Tax Quiz

What is the standard Personal Allowance for income tax in the UK for the tax year 2024-2025?

• £10,000

• £12,570

• £15,000

• £20,000

When does the current tax year start and end?

• 1 January 2024 to 31 December 2024

• 6 April 2024 to 5 April 2025

• 1 April 2024 to 31 March 2025

• 1 July 2024 to 30 June 2025

What is the tax rate for income up to the Personal Allowance?

• 10%

• 5%

• 0%

• 15%

How can your Personal Allowance be increased?

• By earning more than £100,000

• By claiming Blind Person’s Allowance

• By living in Scotland

• By paying more tax

What is the tax rate for the Basic rate band?

• 10%

• 20%

• 30%

• 40%

At what taxable income does the Higher rate band start?

• £12,571

• £50,271

• £125,140

• £150,000

What is the tax rate for income over £125,140?

• 35%

• 40%

• 45%

• 50%

Which of the following is NOT something you can check regarding your Income Tax?

• Your Personal Allowance and tax code

• How much tax you’ve paid in the current tax year

• How much you’re likely to pay for the rest of the year

• Your total savings in the bank

What is the tax rate for the Additional rate band?

• 45%

• 40%

• 55%

• 50%

Which of the following can reduce your taxable income?

• Winning a lottery

• Taking a vacation

• Buying a new car

• Charitable donations