Identify the basic rate tax rate for non-savings income.

The basic rate of tax for non-savings income is indeed set at 20%. This rate applies to the portion of an individual’s income that falls within the basic tax band after their personal allowance has been deducted.

For the tax year 2023, non-savings income includes earnings from employment, profits from self-employment, and income from rental properties, among others. The basic rate is typically applied to income over the personal allowance threshold and up to a certain limit, which is determined by the respective tax year's thresholds set by the government.

It is important to be familiar with the classification of income types, as different rates may apply to savings income or capital gains, which are taxed differently. Understanding where non-savings income fits within the overall taxation framework helps individuals anticipate their tax liabilities more accurately.