22-23 Tax Year - Rates and Allowances (Updated)

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.