Payroll Tax Rates 2015 / 2016
Standard tax code is 1060L. This gives an annual earnings allowance of £10,605.
2015-2016 Bandwidths Tax Rate Taxable Earnings 0 - £31,785 20% Taxable Earnings £31,786 - £150,000 40% Taxable Earnings £100,000 - £150,000 40% with reducing personal allowances Taxable Earnings £150,000 45% no allowances
Statutory Payments
Statutory Payments Statutory Sick Pay up to 28 weeks (no reimbursement) £88.45pw £17.69 per day - 5 days Statutory Maternity /Adoption Pay paid for 39 weeks First 6 weeks 90% of average weekly earnings Followed by 33 weeks at £139.58 or average weekly earnings if less Statutory Paternity Pay up to 2 weeks £139.58 or average weekly earnings if less Small Employer Threshold Less than £45,000 of previous years NIC Recover 100% plus 3% compensation Large Employer Only on SMP/SPP/SAP 92% Recovery
National Minimum Wage
National Minimum Wage Age Rate per hour
From 1/10/13Rate per hour
From 1/10/14Apprentice £2.68 £2.73 16-17 £3.72 £3.79 18-20 £5.03 £5.13 21+ £6.31 £6.50
National Insurance Earnings
National Insurance Earnings Per Week Per Month Per Annum Employees Employers Lower Earnings Limit
(LEL)
£112
£486
£5824
Nil
NilPrimary Threshold
(PT)
£155
£672
£8,060
12%
13.8%Secondary Threshold
(ST)
£156
£676
£8,112
12%
13.8%Upper Accrual Point
(UAP)
£770
£3,337
£40,040
12%
13.8%Above Upper Earnings Limit
(UEL)
£815
£3,532
£42,385
2%
13.8%
NB Less up to £2000 Annual Employment Allowance
Other Rates
Other Rates Student Loan Earnings above £17,355 9% Deduction Childcare Vouchers
(Salary Sacrifice)Maximum £55 week/£243 month 20%
Maximum £28 per week/£124 per month
40%
Maximum £22 per week/£97 per month
50%Statutory Redundancy Maximum 20 weeks £475 per week
Employee Mileage Vehicle Payments for Business Use
Business Mileage Payments Cars/Vans
First 10,000 business miles*45p per mile Over 10,000 miles 25p per mile Motorcycles 24p per mile Cycles 20p per mile
Full details of all tax rates can be found on the HMRC site.