Income Tax & Thresholds


We will discuss the extension of class 2 national insurance in our next blog, but for now we’ll explain the new tax allowance and class 4 national insurance rates.

The personal allowance will increase in April 2018 to £11,850. This is an increase of £350 per year compared to 2017/18.

The basic rate band will also increase to £46,350.

The additional rate band of 45% remains at earnings in excess of £150,000.

The National Insurance lower earning limit is now £6,032 per year with the primary threshold increasing to £8,424 and the upper threshold being £46,350, in line with the higher rate tax band.

If you would like further guidance please contact the office on 01530 414 285.

Featured Posts
Recent Posts
Archive
Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Visit

3 Rushton’s Yard

Market Street

Ashby de la Zouch

Leicestershire

LE65 1AL

Call

T: 01530 414285

M: 07525 421454

© 2014 by

Darcey and Bate Accountants

Darcey and Bate Accountants Limited company number 08389435 (Registered in England)