Tax & National Insurances Rates 2020/21

By April 15, 2020Uncategorized

Tax

In England and Wales the tax rates remain the same as in the previous year, with Scotland making some changes coming into effect on May 11th.  The personal tax free allowance remains at £12 500 (1250L tax code)

NICs

The National Insurance bands have changed however, which will result in less deductions and higher net pay for many employees. The primary and secondary thresholds have moved apart however, so employees and employers will start to make contributions at a different level.

Student Loan and Statutory Payments

The details and links to further information can be found here, together with further information on Student Loans, Statutory Payments etc.

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