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What are the tax rates for 2021/22?
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Income over £100,000. Current rates and allowances. How much Income Tax you pay in each tax year depends on: how much of your income is above your Personal Allowance. how much of your...
Aug 14, 2024 · There are different rates and allowances for National Insurance, Capital Gains Tax and Inheritance Tax. Find out more about other tax rates and allowances.
Jan 1, 2014 · The personal allowance rate for 2021 to 2022 has been corrected to £12,570. The basic tax rate for England, Northern Ireland Wales for 2021 to 2022 has been corrected to £37,700.
2021/2022 Tax Rates and Allowances. Click to select a tax section. Income Tax - Use our Tax Calculator to Calculate Income Tax. Tax Free Personal Allowance. the amount of gross income you can earn before you are liable to paying income tax. Income Limits For Tapering.
CURRENT TAX ALLOWANCE: The basic rate payable in England, Wales, and Northern Ireland is 20% on taxable income up to £50,270. In Scotland, the basic rate payable is also 20% on taxable income. But the upper threshold for the Scottish intermediate rate is £43,662.
Feb 15, 2021 · Regulations have been passed (SI 2021/111) setting out the income tax allowances and tax bands for 2021/22, in advance of the Budget on 3 March 2021. The tax rates for 2021/22 have also been revealed in the rates and thresholds for employers.
Apr 6, 2021 · The personal allowance is set at £12,570 for 2021/22. Both the allowance and the basic rate limit have been increased in line with inflation from 2020/21. As a result the higher rate threshold – the point at which individuals become liable to pay tax at the higher rate – is £50,270 for 2021/22.