2022 / 2023 PAYE Personal Income Tax Rates and AllowancesMon, 08 Aug 2022
Personal PAYE Allowances
|People born between 6th April 1938 - 5th April 1948||£12,500||£12,570||0|
|People born before 6th April 1938||£12,500||£12,570||0|
|Married Couples Allowance ( if born before 6th April 1935)||£9,125||£9,415||300|
|Blind Person's Allowance||£2,500||£2,600||100|
|Basic rate 20%||TFA - £37,700||TFA - £37,700||no change|
|Higher Rate 40%||TFA - £37,500 - £150,000||£37,501 - £150,000||no change|
|Additional Rate 45%||£150,001+||no change|
No changes to the Basic Rate tax bracket and no increases in the Basic Personal Allowance means little defference on the personal tax front in 2021/23. Both the Higher and the Additional Rates see no change either for the coming tax year.
Change in take home pay after tax and NI
|Gross Wage||Net Pay 2021/22||Net Pay 2022/23||Difference|
National Insurance Rates
There have been no changes to the percentage of National Insurance Class 1 contributions, they remain at 12% for employees, and 2% above the upper earnings limit. Employers Class 1 have remained the same at 13.8%. The limits and thresholds have changed, as illustrated in the table below.
National Insurance Bands
|Weekly Lower earnings limit, primary Class 1||£123||£123||0|
|Weekly Upper earnings limit, primary Class 1||£967||£967||0|
|Weekly Primary threshold||£190||£242||+52|
|Weekly Secondary threshold||£175||£175||0|
|Weekly Upper Secondary Threshold for U21s||£967||£967||0|
|Apprentice Upper Secondary Threshold for U25s||£967||£967||0|
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