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*PA is withdrawn at £1 for every £2 by which ‘adjusted income’ exceeds £100,000.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
