What was the top tax rate in 2016?
Income is divided into tax brackets, and a percentage rate applies to each bracket and the corresponding segment of income. These percentage rates began at 10% in 2016 and gradually increased to 15%, 25%, 28%, 33%, 35%, and finally a top rate of 39.6%.
What is the tax allowance for 2016 to 2017?
2016/2017 personal allowance As of 6th April, there will be only one personal allowance rate which is unaffected by the taxpayer’s date of birth. It will increase by £400, from £10,600 to £11,000. This means that you can earn £11,000 during the 2016/17 tax year before you have to start paying any tax.
What is the higher rate tax threshold for 2018 19?
Tax thresholds, rates and codes
|PAYE tax rates and thresholds||2018 to 2019|
|Employee personal allowance||£228 per week £988 per month £11,850 per year|
|UK basic tax rate||20% on annual earnings above the PAYE tax threshold and up to £34,500|
|UK higher tax rate||40% on annual earnings from £34,501 to £150,000|
What was the tax allowance for 2015 to 2016?
Personal Allowances for people born before 6 April 1948
|Allowances||2015 to 2016||2013 to 2014|
|Personal Allowance for people born between 6 April 1938 and 5 April 1948||£10,600||£10,500|
|Personal Allowance for people born before 6 April 1938||£10,660||£10,660|
|Income limit for Personal Allowance||£27,700||£26,100|
What are the tax thresholds for 2019 20?
Tax rates and bands
|Band||Rate||Income after allowances 2019 to 2020|
|Basic rate in Wales||20%||Up to £37,500|
|Intermediate rate in Scotland||21%||£12,445 to £30,930|
|Higher rate in Scotland||40% (41% from 2018 to 2019)||£30,931 to £150,000|
|Higher rate in England & Northern Ireland||40%||£37,501 to £150,000|
What is the lower earnings limit for 2019 20?
Class 1 NIC thresholds 2019/20
|Lower Earnings Limit (LEL)||£118||£512|
|Primary Threshold (PT)||166||719|
|Secondary Threshold (ST)||166||719|
|Upper Secondary Threshold (UST)||962||4,167|