UMBRELLA ACCOUNTANTS IS THE OBVIOUS CHOICE FOR CONTRACTORS WHO WANT TO MAXIMISE THEIR INCOME WITH SIMPLE, LOW COST, FIXED FEE ACCOUNTANCY SOLUTIONS
Tax Factsheet
Check here for the latest tax information changed as and when the relevant legislation changes
2019/2020
Income Tax Rates
| UK | % | Bandwidth |
| Basic Rate | 20% | £1 to £37,500 |
| Higher Rate | 40% | £37,501 to £150,000 |
| Additional Rate | 45% | £150,001 and above |
| Scottish Rate | ||
| Starter Rate | 19% | £1 to £2,049 |
| Basic Rate | 20% | £2,050 to £12,444 |
| Intermediate Rate | 21% | £12,445 to £30,930 |
| Higher Rate | 41% | £30,931 to £150,000 |
| Top Rate | 46% | £150,001 and above |
National Insurance Contributions
| Pay Frequency | Lower Earnings Limit | Primary Earnings Threshold | Secondary Earnings Threshold | Upper Earnings Threshold |
| Weekly | £118 | £166 | £166 | £962 |
| Monthly | £512 | £719 | £719 | £4,167 |
| Annual | £6,136 | £8,632 | £8,632 | £50,000 |
| Category Letter | Employee earnings above PT up to UEL | Employee Earnings above UEL | Employer Earnings above ST to UEL | Employer Earnings above UEL |
| A | 12% | 2% | 13.8% | 13.8% |
| B | 5.85% | 2% | 13.8% | 13.8% |
| C | 0% | 0% | 13.8% | 13.8% |
| H | 12% | 2% | 0% | 13.8% |
| J | 2% | 2% | 13.8% | 13.8% |
| M | 12% | 2% | 0% | 13.8% |
| Z | 2% | 2% | 0% |
Very helpful setting up my limited company. Always on hand to answer queries. Friendly staff, really pleased.
M Holt July 2019
