2012/13 Tax Rates

PAYE   tax rates, thresholds and codes Figures   to use 2012-13
PAYE tax   threshold £156 per week
£675 per month
£8,105 per year
Basic tax   rate 20% on annual earnings above the PAYE tax   threshold and up to £34,370
Higher tax   rate 40% on annual earnings from £34,371 to £150,000
Additional   tax rate 50% on annual earnings above £150,000
Emergency   tax code 810L

Class 1 NICs: thresholds

Class   1 NICs thresholds Figures   to use 2012-13
Lower   earnings limit (LEL) £107 per week
£464 per month
£5,564 per year
Secondary   Threshold (ST) £144 per week
£624 per month
£7,488 per year
Primary   Threshold (PT) £146 per week
£634 per month
£7,605 per year
Upper accrual point (UAP) £770 per week
£3,337 per month
£40,040 per year
Upper earnings limit (UEL) £817 per week
£3,540 per month
£42,475 per year

Class 1 NICs: rates for employee (primary) contributions

NICs deductions should not be made on earnings below the Lower Earnings Limit (LEL).

Class 1A NICs: expenses and benefits

NICs   class Rate   2012-13
Class 1A   NICs 13.8% –   for benefits provided in 2012-13

Self Employed NI Contributions

NICs   class Rate   2012-13
Class 2 –   Flat Rate £2.65 pw
£137.80 pa
Class 4 –   on profits £7,605-£42,475 pa @ 9%
Over £42,475 pa @ 2%
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