[11:49] Stuart Hogg

PAYE Rates and Thresholds for 2012/2013

By April 11, 2012No Comments


A Happy New Tax Year to you all.  Whilst you are all busy preparing your year end here is a quick look at the new rates and thresholds for tax year 2012/2013.  For more details please visit our Tax and NI page or download the employer helpbook from http://www.hmrc.gov.uk/helpsheets/e12.pdf




Tax codes suffix with “L” go up by 63 points making the new standard tax code 810L which gives you a tax free allowance of:


£8105 per annum

£675 per month

£155 per week


Annual Tax thresholds have changed to:


20% on earnings up to £34,370

40% on earnings from £34,371 to £150,000

50% on earnings above £150,000


National Insurance

Employees:  12% of earnings above £634 per month and 2% on earnings above £3540 per month


Employers: 13.8% of earnings above £624 per month


Statutory payments

SSP is £85.85 per week


SMP is the lesser of 90% of their average weekly earnings or £135.45 per week after the first 6 weeks


SPP is the lesser of 90% of average weekly earnings and £135.45 per week


Student Loans


Deductions are 9% of earnings above:

£15,795 per annum

£1,316 per month

£303 per week