Here it is – the much-anticipated Tax & Facts: everything you need to know in 2022-23 relating to tax, national insurance student loans, minimum wage and statutory payments. I can feel your enthusiasm… don’t read it all at once!
National Minimum Wage
Age Group
From April 2021
From April 2022
23+
£8.91
£9.50
21 to 22
£8.36
£9.18
18-20
£6.56
£6.83
16-17
£4.62
£4.81
Apprentices under 19
£4.30
£4.81
*Apprentices aged 19 and over in first year of apprenticeship
£4.30
£4.81
Student Loans
Loan type
2021/22 Earnings trigger per year
2022/23 Earnings trigger per year
Collection rate (unchanged)
Loan plan 1
£19,895
£20,195
9%
Loan plan 2
£27,295
£27,295
9%
Loan plan 4
£25,000
£25,375
9%
Postgraduate (unchanged)
£21,000
£21,000
6%
England, Wales and Northern Ireland
PAYE tax rates and thresholds
From April 2022
Personal Allowance (PA)
£12,570 per year
Basic tax rate
20% on annual earnings above the PA up to £37,700
Higher tax rate
40% on annual earnings from £37,700 to £150,000
Additional tax rate
45% on annual earnings above £150,000
Scotland
PAYE tax rates and thresholds
From April 2022
Personal Allowance (PA)
£12,570 per year
Starter tax rate
19% on annual earnings above the PA up to £14,732
Basic tax rate
20% on annual earnings from £14,732 to £25,688
Intermediate tax rate
21% on annual earnings from £25,688 to £43,662
Higher tax rate
41% on annual earnings from £43,662 to £150,000
Top tax rate
46% on annual earnings above £150,000
NIC thresholds and rates (Table A)
Thresholds
Per week 2021/22
Per month 2021/22
Per week 2022/23
Per month 2022/23
Rates 2022/23
Lower earnings limit
£120
£520
£123
£533
0%
Primary threshold (Ees)
£184
£797
£190
£823
13.25%*
Secondary threshold (Ers)
£170
£737
£175
£758
15.05%*
Upper earnings limit Primary (Ees)
£967
£4,189
£967
£4,189
3.25%*
Upper earnings limit Secondary (Ers)
£967
£4,189
£967
£4,189
15.05%*
*includes Health and Social Care Levy (see below)
Statutory payments
Description
2021/22
2022/23
Weekly SMP/SPP/SHPP/SAP (lower rate)
£151.97
£156.66
Weekly SSP
£96.35
£99.35
Health and Social Care Levy
For 2022-23 only, this levy is incorporated into the Class 1, 1A, 1B and Class 4 NIC rates at 1.25% increase to the main rates for both employees and employers.
Those on national insurance letter C (above state pension age) will not incur the increased NI levy in 2022-23 but will incur it from 6th April 2023 onwards.
HMRC is asking (but not requiring) a note within the payslip to the effect of; ‘1.25% uplift in NICs, funds NHS, health & social care’ (sic). We confirm that this will be included on our payslips.
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