Jan 102022
 

2022-23

Personal Allowance:

£12,570


PAYE Thresholds
:

Weekly: £242
Monthly: £1,048


Standard / Emergency tax code:

1257L


Tax Code uplifts:

  • L:  N/A due to no change in the Personal Allowance
  • M:  N/A due to no change in the Personal Allowance
  • N: N/A due to no change in the Personal Allowance

Income Tax Rates – England & Northern Ireland

Basic rate 20% 1 – 37,700

Higher rate 40% 37,701 – 150,000

Additional rate 45% 150,001 >

Income Tax Rates – Scotland
Starter rate                         19%        1 – 2,162
Basic rate                            20%        2,163 – 13,118
Intermediate rate            21%        13,119 – 31,092
Higher rate                         41%        31,093 – 150,000
Top rate                               46%        150,001 >
Income Tax rates and thresholds are subject to parliamentary approval.

Income Tax Rates – Wales

Basic rate 20% 1 – 37,700

Higher rate 40% 37,701 – 150,000

Additional rate 45% 150,001 >
Income Tax rates and thresholds are subject to parliamentary approval.


Higher rate threshold – England and Northern Ireland:

£50,270

Higher rate threshold – Scotland:

£43,662
Subject to parliamentary approval

Higher rate threshold – Wales:

£50,270

National Minimum Wage from 1st April 2021

 HMRC  Comments Off on National Minimum Wage from 1st April 2021
Dec 212020
 

The National Minimum Wage is the minimum pay per hour almost all workers are entitled to by law.

These rates apply from 1 April 2021.

Category of worker Hourly rate

Aged 23 and above (national living wage rate) £8.91

Aged 21 to 22 inclusive £8.36 Aged 18 to 20 inclusive £6.56

Aged under 18 (but above compulsory school leaving age) £4.62 Apprentices aged under 19 £4.30

Apprentices aged 19 and over, but in the first year of their apprenticeship £4.30

The Scottish Income Tax rates, bandwidths (where applicable) from 11 May 2020

 HMRC  Comments Off on The Scottish Income Tax rates, bandwidths (where applicable) from 11 May 2020
May 112020
 

•    Scottish starter rate 19% bandwidth £1 to £2,085
•    Scottish basic rate 20% bandwidth £2,086 to £12,658 SBR
•    Scottish intermediate rate 21% bandwidth £12,659 to £30,930 SD0
•    Scottish higher rate 41% bandwidth £30,931 to £150,000 SD1 (unchanged)
•    Scottish top rate 46% bandwidth £150,001 and above SD2 (unchanged)
 
Appendix B: parameter values from 11 May 2020
SB1 – bandwidth 1 changed to 2,085
SC1 – bandwidth 1 cumulative changed to 2,085
SK1 – annual Tax 1 cumulative changed to 396.15
SB2 – bandwidth 2 changed to 10,573
SC2 – bandwidth 2 cumulative changed to 12,658
SK2 – annual tax 2 cumulative changed to 2,510.75
SB3 – bandwidth 3 changed to 18,272
SC3 – bandwidth 3 cumulative 30,930 unchanged
SK3 – annual tax 3 cumulative changed to 6,347.87
SB4 – bandwidth 4 119,070 unchanged
SC4 – bandwidth 4 cumulative 150,000 unchanged
SK4 – annual tax 4 cumulative changed to 55,166.57
SR1 – rate 1 19% unchanged
SR2 – rate 2 20% unchanged
SR3 – rate 3 21% unchanged
SR4 – rate 4 41% unchanged
SR5 – rate 5 46% unchanged