19th April 2018
Here at The Curtis Partnership we like to make it easy for you to find what you need so here are the latest tax, national insurance and minimum wages rates for 2018/19.
| Personal Tax – England | ||||||
| Annual | Monthly | Weekly | Rates | |||
| Personal allowance | £11,850 | £988 | £228 | NIL | ||
| Basic rate band – the next | £34,500 | £2,875 | £663 | 20% | ||
| Higer rate band – the next | £115,500 | £9,625 | £2,221 | 40% | ||
| Aditional rate band | Excess | Excess | Excess | 45% | ||
| Remember that once your income exceeds £100,000 your personal allowance is lost at £1 for every £2 over the limit | ||||||
|
|
||||||
| Personal Tax – Scotland | ||||||
| Annual | Monthly | Weekly | Rates | |||
| Personal allowance | £11,850 | £988 | £228 | NIL | ||
| Starter rate band – the next | £2,000 | £167 | £38 | 19% | ||
| Basic rate band – the next | £10,150 | £846 | £195 | 20% | ||
| Intermediate rate band – the next | £19,430 | £1,619 | £374 | 21% | ||
| Higer rate band – the next | £118,420 | £9,868 | £2,277 | 41% | ||
| Aditional rate band | Excess | Excess | Excess | 46% | ||
| Remember that once your income exceeds £100,000 your personal allowance is lost at £1 for every £2 over the limit | ||||||
|
|
||||||
| Employed National Insurance | ||||||
| Annual | Monthly | Weekly | Rates – Employee | Rates – Employer | ||
| Lower earnings limit – SSP and NIC credits start here | £6,032 | £503 | £116 | NIL | NIL | |
| Primary and secondary (Employer) threashold – the next | £2,392 | £199 | £46 | NIL | NIL | |
| Upper secondary (Under 21 only) | £37,941 | £3,162 | £730 | 12% | NIL | |
| Upper secondary (Under 25 apprentice only) | £37,941 | £3,162 | £730 | 12% | NIL | |
| Upper earning limit | £37,941 | £3,162 | £730 | 12% | 13.8% | |
| Over UEL | Excess | Excess | Excess | 2% | 13.8% | |
|
|
||||||
| Self Employed National Insurance – based profits | ||||||
| Annual | Rates | |||||
| Class 4 NIC | ||||||
| Starting band | £8,424 | NIL | ||||
| Primary band | £37,926 | 9% | ||||
| Upper band | Excess | 2% | ||||
| Class 2 NIC | Annual | Rates | ||||
| Starting band | £6,205 | NIL | ||||
| Any profits over | £2.85 | per week | ||||
|
|
||||||
| National mimimum wage | ||||||
| Rates | ||||||
| Apprentice (under 19 and in first year of apprenticeship) | £3.70 | per hour | ||||
| Apprentice (over 19 and in first year of apprenticeship) | £3.70 | per hour | ||||
| Under 18 | £4.20 | per hour | ||||
| Age 18 – 20 | £5.90 | per hour | ||||
| Age 21 – 24 | £7.38 | per hour | ||||
| Age 25 and over | £7.83 | per hour | ||||
|
|
||||||
| Corporation Tax | Rates | |||||
| From 1st April 2016 | 20% | |||||
| From 1st April 2017 | 19% | |||||
| From 1st April 2020 (expected) | 17% | |||||