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What tax changes come into force in 2012/13
It’s the start of a new tax year in the UK. This means that there are various important changes to income taxes which are almost certain to affect you....

How Much Can You Earn Without Paying Taxes 2012/13?
If you’re looking for an answer to the question ‘how much can you earn without paying taxes in 2012?’ then you’ve come to the right place. In our guide, we...

What You Should Know About The 40 Tax Bracket

Do you pay 40% tax? Even if you don’t do so now, there’s a strong chance that you will in the next few years. 2011 predictions from the Institute for...

Understanding your 2012-2013 PAYE Coding Notice

If you pay your tax through the Pay as you Earn (PAYE) system, over the next few weeks you will receive your PAYE Coding Notice for the 2012/2013 tax year.....




Cap on unlimited income tax reliefs

Currently individuals can offset their entire income against income tax reliefs, and as a result pay no income tax at all. Budget 2012 announced that from 6 April 2013 there will be limits to the amount of income tax reliefs individuals can claim.

Click here for  details of this measure

Tax Rate for 2013/14

Basic Rate  at 20%   from  £9,205 to £32,244

Higher rate at 40% from £32,245 to £150,000

Additional rate at 45%  above £150,000

NI Rate for 2013/14

NI contribution due from  £5,564 to £42,475

 What to expect in 2013/14
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