EMPLOYMENT TAX CHANGES

Hi, it’s Deborah and Euzi

 

Changes to income tax personal allowance, thresholds and rates: from 6 April 2019 the personal allowance for income tax rose to £12,500. In the UK (excluding Scotland), for the tax year 2019/20:

1. the basic tax rate of 20% applies on annual earnings above the PAYE tax threshold and up to £37,500


2. the higher tax rate of 40% applies on annual from £37,501 to £150,000


3. the additional tax rate of 45% applies on annual earnings above £150,000

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