RATEs & ALLOWANCES

National Insurance Contributions

Personal Allowances

This is the amount of income a person can get before they pay tax.

Personal Allowances - from the Gov.uk website

The Personal Allowance goes down by £1 for every £2 of income above the £100,000 limit. It can go down to zero.

For more information, plus Personal Allowances for people born before 6th April 1948, view the full Gov.uk page.

Other Allowances

Other Allowances - from the Gov.uk website

For more information, view the full Gov.uk page.

Rates & Taxable Bands

Tax is paid on the amount of taxable income remaining after allowances have been deducted.

2023 Tax Rates for England & northern ireland income

  • Basic Rate: 20% on income after allowances of up to £37,700

  • Higher Rate: 40% on income after allowances of between £37,701 and £125,140

  • Additional Rate: 45% on income after allowances of over £125,141

For more information, tax rates for previous years, and for Scotland and Wales, view the full Gov.uk page.