Please note that HMRC guidance is based on draft legislation published on 11 December 2012. However, it cannot be considered final until the Finance Bill 2013 receives Royal Assent (planned for summer 2013).
Rates and Thresholds
INCOME TAX RATES AND THRESHOLDS FOR 2012-13
30 November 2011
Following the Autumn Statement yesterday The Treasury has confirmed the income tax rates and thresholds for the 2012-13 tax year.
TAX RATES
2011 - 12
2012 - 13
£0 – £34,370
Basic rate: 20%
£0 - £35,000
Higher rate: 40%
£35,001 - £150,000
£34,371 – £150,000
Additional rate: 50%
Over £150,000
Over £150,000
INCOME TAX ALLOWANCES
2011 - 12 2012 - 13 Change
Personal allowance
Age under 65
£7,475
£8,105
£630
Age 65 – 74
£9,940
£10,500
£560
Age 75 and over
£10,090
£10,660
£570
Married Couples Allowance
Maximum amount
£7,295
£7,705
£440
Minimum amount
£2,800
£2,960
£160
Income limit for under 65 personal allowance
£100,000 £100,000 £0
Income limit for age-related allowances
£24,000
£25,400
£1,400
Blind person’s allowance
£1,980
£2,100
£120
NATIONAL INSURANCE RATES
Class 1 National Insurance Contribution rates 2012-13
Employee (primary)
Employer (secondary)
Earnings per week
NIC rate
Earnings per week
NIC rate
0%
Below £107 (LEL)
0%
Below £144 (ST)
CIPP Policy News Journal
12/04/2013, Page 176 of 362
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