[tomosashworth]

As has been stated here; the £5,000 nil rate band is available to everyone.

I think your confusion lies towards the contribution of the income tax calculation.

The £5,000 “uses up” your BR/HR bands; so, if you have Savings income of £33,000 and dividend income of £10,000, your tax calculation would be as follows:

BR Band – £33,500
£33,000 @ 20%
£500 @ 0%

HR Band – up to £150,000
£4,500 @ 0%
£5,000 @ 38.1%

I hope this helps clarify.

[Author]

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