Payroll Tax Rates 2014 / 2015
Standard tax code is 1000L. This gives an annual earnings allowance of £10,005.
2014-2015 Bandwidths Tax Rate Taxable Earnings 0 - £31,865 20% Taxable Earnings £31,866 - £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) £87.55pw £17.51 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 £138.18 or average earnings if less Statutory Paternity Pay up to 2 weeks £138.18 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
Full details of the 2014 / 2015 tax bands and rates can be found on the HMRC site.
