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% |
I would like to take the opportunity to thank you for all your support through these tough times I'm experiencing. Having you as one my support has really helped relieve a lot of my stress. I'm so glad this HMRC stuff is now all behind me and when I do get better I will be sure to be a Umbrella client if I'm going down the self employment route. If your still around it would be nice to hear you have been promoted, you should be Neil Armitages right hand woman. You've been helpful, friendly, efficient and just brilliant! Thank you so so so so much you've been the best Accountant ever!
S Hall October 2017
