Umbrella Company - Key Tax Changes

7 April 2015

Please find below the key tax changes that came into effect on 6th April 2015.

Employee National Insurance Contributions (NIC) Threshold (rate above which your start paying at rate of 12%)

£153 to £155 pw (per week)

Or if monthly paid

£663 to £672 pm (per month)

Employee NIC Threshold Upper Limit (when rate drops from 12% to 2%)

£805 to £815 pw

Or

£3,489 to £3,532 pm

Employer NIC Threshold (13.8%)

£153 to £156 pw

£663 to £676 pm

Personal Allowance

0% £10,000 to £10,600

20% £31,865 down to £31,785