See the latest changes to the budget 2016/2017.
Gross Income Based (GIB) System
No changes to Bandings or Tax rates (see Budget 2015/2016).
Allowance Based System (ABS)
No changes to Bandings (see Budget 2015/2016).
No tax payable for assessable income of £11,050 or below (increase of £50).
Taper Relief between £11,001 and £19,501
2016/2017 Tax Rates (as per 2015/2016):
£ 4,000 at 14%
£12,000 at 17%
Over at 39%
Increase in personal allowances (reflected in tax codes).
Tax credit of £300 or 2% whichever is greater.
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Social Insurance contributions have not changed this year.
Please refer to the 2011/2012 budget for current Social Insurance rates.