Re: [indoexpat-uk] New update HMRC Tax Year 2014/2015

Not really - if you earn high enough then the allowance gets taken away ;)



On 7 April 2014 09:28, Kristanti TREPIN <[email protected]> wrote:

> Good news utk tax year 2014/2015, we'll be paying *slightly* less tax =)
>
>
>    - Basic Personal Allowance will be increased to £10,000
>
>  This is the income you can earn or receive each year tax-free, the amount
> you get depends on your individual circumstances.  The tax-free allowance
> is split into monthly amounts which means that you get about £833 a month
> before we begin to calculate tax deductions.
>
>
>
> ·         Income tax bandwidths will be :
>
>
>
> o   Basic rate                                20%                 £1 to
> £31,865
>
> o   Higher rate                             40%                 £31,866 to
> £150,000
>
> o   Additional rate                        45%                 £150,001 and
> above
>
>
>
> ·         Student Loans repayment threshold will be £16,910 @ 9%
>
>
>
> ·         Statutory Sick Pay (SSP) rate will increase to £87.55 per week
>
>
>
> ·         Statutory Maternity Pay (SMP) & Statutory Paternity Pay (SPP)
> will increase to £138.18 per week
>
>
>
> More details can be found in HMRC website:
>
>
> https://www.gov.uk/government/collections/autumn-statement-2013-hm-revenue-customs-for-tax-advisors
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-- 
Perry Ismangil
<http://me.ismangil.com>
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