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

2022/2023

Income Tax Rates / PAYE Income

   

UK

%

Bandwidth

Personal Allowance (PA)*

0

£12,570

Basic Rate Band

20

£37,700

Higher Rate Band

40

£37, 701 to £150,000

Additional Rate

45

£150,001 and above

Scottish Rate

 

 

Employment personal allowance

0

£12,570

Starter Rate

19

£2,162

Basic Rate

20

£2,163 to £13,118

Intermediate Rate

21

£13,119 to 31,092

Higher Rate

41

£31,093 to £150,000

Top Rate

46

£150,001 and above

*PA is withdrawn at £1 for every £2 by which ‘adjusted income’ exceeds £100,000. There is no allowance given above £125,140.

National Insurance Thresholds (Class 1)

      

Pay Frequency

Lower Earnings Limit

Primary Earnings Threshold (06.04.2022 to 05.07.2022)

Primary Earnings Threshold (06.07.2022 to 05.04.2023)

Secondary Threshold

Upper Earnings Threshold (UEL/UST/AUST/VUST)

Weekly

123

190

242

175

967

Monthly

533

823

1048

758

4189

Annual

6396

9880

12570

9100

50270

National Insurance Contribution (Class 1 - Employee primary)

     

Category letter

Earnings at or above LEL up to and including PT

Earnings above the PT up to and including UEL

Balance of earnings above UEL

 

A

0%

13.25%

3.25%

 

B

0%

7.10%

3.25%

 

C

nil

nil

nil

 

F

0%

13.25%

3.25%

 

H

0%

13.25%

3.25%

 

I

0%

7.10%

3.25%

 

J

0%

3.25%

3.25%

 

L

0%

3.25%

3.25%

 

M

0%

13.25%

3.25%

 

S

nil

nil

nil

 

V

0%

13.25%

3.25%

 

Z

0%

3.25%

3.25%

 
     

National Insurance Contribution - Employer (secondary) contribution rates

     

Category letter

Earnings at or above LEL up to and including ST

Earnings above ST up to and including FUST

Earnings above FUST up to and including UEL, UST for under 21s, apprentices and veterans

Balance of earnings above UEL, UST for under 21s, apprentices and veterans

A

0%

15.05%

15.05%

15.05%

B

0%

15.05%

15.05%

15.05%

C

0%

15.05%

15.05%

15.05%

F

0%

0%

15.05%

15.05%

H

0%

0%

0%

15.05%

I

0%

0%

15.05%

15.05%

J

0%

15.05%

15.05%

15.05%

L

0%

0%

15.05%

15.05%

M

0%

0%

0%

15.05%

S

0%

0%

15.05%

15.05%

V

0%

0%

0%

15.05%

Z

0%

0%

0%

15.05%

 

  • I found working with umbrella easy and they responded well to all my queries quickly and efficiently. I had Sheraz Sheikh as my contact for Tax affairs during the last two years who was very helpful and supportive I found Umbrella a good organisationStephen Cooper May 2022

  • The team over at Umbrella.co.uk - thumbs up. The team over at Umbrella.co.uk, especially Nicola Worthington, have always been very helpful, professional and prompt with communication and queries when I used them to help establish and look after my Limited company.Johnny M March 2022

  • Great service from Nicola Worthington & team. Always prompt with responses and reminders. Very professional.Michael L March 2022

  • After this company was recommended to me I was contacted by Robert Charlton. Robert emailed me all the necessary documents to setup a limited company and gave good advice over the phone. Excellent first impression which led me to sign up. Martin February 2022

  • Nicola Worthington was amazing BBC reported today that "More than three million people have yet to file their self-assessment tax return just days before [the] deadline of 31 January". Despite the pressure, Nicola Worthington completed my self-assessment tax return quickly and professionally. She was very responsive and promptly answered all of my questions. Fantastic work.Marcus January 2022

  • Professional and reliable company in the 5 years of using their service. Thanks to Nicola Worthington for all your support in submitting my self assessments in a timely and accurate fashion.S Moore December 2021

  • Umbrella have been dealing with my account/tax matters for the last 10 years with an extremely profession approach. I have always received accurate information and helpful advice from Nicola Worthington. I would have no hesitation in recommending Umbrella for all accountancy matters.D Sewell November 2021

  • Nicola has been fantastic - kept me informed and very professional.D Norman November 2021

  • Nicola has been fantastic - kept me informed and very professional.Dale Norman October 2021

  • Very helpfull and prompt. Always came back as promised and provided the necessay information and guidanceM manir October 2021