With the new tax year just around the corner we thought a quick overview of the new rates for 2013-14 would useful.
Basic Personal Allowance will be £9,440 and the basic rate limit will be £32,010.
Income Tax rates and bandwiths are:
Rate % Bandwith
Basic Rate 20% £1 to £32,010
Higher Rate 40% £32,011 to £150,000
Additional Rate 45% £150,001 and above
The new threshold for PAYE is £182 per week (£787 per month)
New emergency code = 944L
Full details of what you need to do before 6 April 2013 can found in HMRC’s guide