🌍 Global Changes in Tax Policy

Savings and Rental Income: UK Tax Rates Set to Rise to 49%

The tax burden is expected to increase for individuals earning interest on bank deposits or income from renting out property. As part of the United Kingdom’s 2026 Budget, the following rates have been announced for application from April 6, 2027:

🔹 20% → 24% — basic rate

🔹 40% → 44% — higher rate

🔹 45% → 49% — additional rate

The new rates are expected to be introduced through the Finance Bill.

💡 What does this mean for taxpayers?

For example, on £1,000 of taxable income subject to the basic rate, the amount of tax would increase from £200 to £240.

The Government’s objective is to strengthen fiscal discipline and finance measures supporting households and businesses. The rates on savings income will apply across the United Kingdom, while the rates on rental income will apply in England, Wales and Northern Ireland.

What rules apply in Uzbekistan?

For individuals who are tax residents of Uzbekistan:

🏦 Interest earned on bank deposits is exempt from personal income tax.

Tax Code, Article 378, paragraph 13.

🏠 Income from renting out real estate is generally taxed at 12%.

Tax Code, Article 381.

📊 Other interest income not covered by a specific exemption is taxed at 5%.

Tax Code, Article 381.

🔗 UK Tax Authority — HMRC | Tax Code of Uzbekistan