Tax Information
Tax Rates Personal Allowances
Personal Allowances:
The Personal Allowance is the amount of income a person can get before they pay tax.
| Allowances | 2020 to 2021 | 2019 to 2020 | 2018 to 2019 | 2017 to 2018 |
|---|---|---|---|---|
| Personal Allowance* | £12,500 | £12,500 | £11,850 | £11,500 |
| Income limit for Personal Allowance | £100,000 | £100,000 | £100,000 | £100,000 |
| Married Couple’s Allowance – maximum amount | £9,075 | £8,915 | £8,695 | £8,445 |
| Married Couple’s Allowance – minimum amount | £3,510 | £3,450 | £3,360 | £3,320 |
| Blind Person’s Allowance | £2,500 | £2,450 | £2,390 | £2,320 |
Tax rates and bands:
Tax is paid on the amount of taxable income remaining after allowances have been deducted.
| Band | Rate | Income after allowances 2020 to 2021 | Income after allowances 2019 to 2020 | Income after allowances 2018 to 2019 | Income after allowances 2017 to 2018 |
|---|---|---|---|---|---|
| Starting rate for savings | 10% (0% from 2015 to 2016) | Up to £5,000 | Up to £5,000 | Up to £5,000 | Up to £5,000 |
| Basic rate in England & Northern Ireland | 20% | Up to £37,500 | Up to £37,500 | Up to £34,500 | Up to £33,500 |
| Higher rate in England & Northern Ireland | 40% | £37,501 to £150,000 | £37,501 to £150,000 | £34,501 to £150,000 | £33,501 to £150,000 | England & Northern Ireland Additional rate | 45% | Over £150,000 | Over £150,000 | Over £150,000 | Over £150,000 |
National Insurance Thresholds:
Class 1 National Insurance Thresholds
| £ per week | 2020 to 2021 | 2019 to 2020 | 2018 to 2019 | 2017 to 2018 |
|---|---|---|---|---|
| Lower Earnings Limit (LEL) Employees do not pay National Insurance but get the benefits of paying |
£120 | £118 | £116 | £113 |
| Primary Threshold (PT) Employees start paying National Insurance |
£183 | £166 | £162 | £157 |
| Secondary Threshold (ST) Employers start paying National Insurance |
£169 | £166 | £162 | £157 |
| Upper Accrual Point (UAP) Employees with a contracted-out pension pay a lower rate of National Insurance up to this point |
N/A | N/A | N/A | N/A |
| Upper Earnings Limit (UEL) All employees pay a lower rate of National Insurance above this point |
£962 | £962 | £892 | £866 |
| Upper Secondary Threshold (UST) Employers of employees who are under 21 pay zero rate up to this point |
£962 | £962 | £892 | £866 |
| Apprentice Upper Secondary Threshold (AUST) Employers of certain apprentices who are under 25 pay zero rate up to this point |
£962 | £962 | £892 | £866 |
I'm Always Here to Help, but I've Also Created a Bunch of Tools For You to Manage Your Finances On Your Own!
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Resources & Calculators
Useful Resources for Tax Planning
Personal Allowances
Personal Allowance is the amount of income a person can get before they pay tax. You can find the tables here.
National Insurance Thresholds
Personal, Self Employed and Employee National Insurance rates.
Coporation Tax
Tax rates for Corporation Tax.
Inheritance Tax
Tax rates for Inheritance Tax.
DJS Accounting Services
DJS Accounting Services, Norwich, Norfolk
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