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 Rate20%£1 to £37,500
Higher Rate40%£37,501 to £150,000
Additional Rate45%£150,001 and above
Scottish Rate  
Starter Rate19%£1 to £2,049
Basic Rate20%£2,050 to £12,444
Intermediate Rate21%£12,445 to £30,930
Higher Rate41%£30,931 to £150,000
Top Rate46%£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
A12%2%13.8%13.8%
B5.85%2%13.8%13.8%
C0%0%13.8%13.8%
H12%2%0%13.8%
J2%2%13.8%13.8%
M12%2%0%13.8%
Z2%2%0% 

 

Very helpful setting up my limited company. Always on hand to answer queries. Friendly staff, really pleased.

M Holt July 2019