22-23 Tax Year - Rates and Allowances (Updated)
Updated: Mar 28, 2022
UPDATED FOLLOWING 23RD MAR SPRING STATEMENT
Attached is a reference guide showing key tax rates, thresholds and allowances for the upcoming tax year.
A few highlights taking affect from Apr 6th:
Income tax rates, personal allowance and tax thresholds frozen
NI thresholds rise and a 1.25% increase in NI contributions across all classes
Dividend tax increase of 1.25% across all rates. Tax free allowance remains at £2k
£300 increase in Student Loan earnings threshold to £20,195.
6.6% increase in the National Minimum Wage from £8.91 to £9.50
Any questions please let me know.