Uk Income Tax Rates 2024/25. The table above shows 2024/25 income tax rates for taxpayers in england, wales and northern ireland who have a standard personal allowance of £12,570. The money purchase allowance is a reduced annual allowance for contributions made to defined contribution pension schemes and was introduced to limit the amount of tax relief someone can receive when they have already begun drawing income from their pension.
After that, a 2pc rate applies. For the tax year 2024/25, the standard personal allowance stands at £12,570.