2024 Income Tax Brackets. Your taxable income is your income after various deductions, credits, and exemptions have been applied. Compare the old and new income tax regimes in the blog.
In the autumn budget 2024, the chancellor confirmed there would be no increases to ‘taxes on working people’, keeping income tax, national insurance and vat rates the same. The seven federal income tax brackets for 2024 and 2025 are 10%, 12%, 22%, 24%, 32%, 35% and 37%.