Income Tax 

2022/23 
Band 
Personal Allowance 
Basic rate 
Higher rate 
Additional rate 
Taxable Income 
Up to £12,570 
£12,571 to £50,270 
£50,271 to £150,000 
over £150,000 
Rate 
0% 
20% 
40% 
45% 
Savings Income 
(Interest on savings) 
Income below £17,570 
Savings rate - Basic Rate 
Savings rate - Higher rate 
£5,000 
£1,000 
£500 
Dividend income 
Dividend allowance 
Dividend ordinary rate 
Dividend upper rate 
Dividend additional rate 
2022/23 
£2,000 
8.75% 
33.75% 
39.35% 

Income Tax Reliefs 

 
Personal allowance 
Personal allowance income limit 
6 April 2022 - 5 April 2023 
£12,570 
£100,000 

Individuals Savings Accounts 

 
Overall investment limit 
Junior account investment limit 
2022/23 
£20,000 
£9,000 

Devolved Income Tax 

Scottish rates and bands 
Band name 
Personal Allowance 
Starter Rate 
Scottish Basic Rate 
Intermediate Rate 
Higher Rate 
Top Rate 
Bands 
Up to £12,570 
Over £12,571*-£14,732 
Over £14,773-£25,688 
Over £25,689-£43,662 
Over £43,663-£150,000** 
Over £150,000** 
Rate 
0% 
19% 
20% 
21% 
41% 
46% 
* assumes individuals are in receipt of the Standard UK Personal Allowance 
** those earning more than £100,000 will see their Personal Allowance reduced by £1 for every £2 earned over £100,000 
 
Welsh rates and bands 
Band name 
Personal Allowance 
Basic rate 
Higher rate 
Additional rate 
Taxable income 
Up to £12,570 
£12,571-£50,270 
£50,271-£150,000 
Over £150,000 
Tax rate 
0% 
20% 
40% 
45% 

Capital Gains Tax 

Individuals 
Exemption 
Standard rate 
Higher/additional rate 
Trusts 
Exemptions 
Rate 
2022/23 
£12,300 
10% 
20% 
 
£6,150 
20% 
Higher rates (18/28%) may apply to the disposal of certain residential property and carried interest. 
Entrepeneurs' Relief and Investors' Relief 
The first £10m of qualifying gains are charged at 10%. Gains in excess of the limit are charged at the rates detailed above. 

Inheritance Tax 

Lifetime rate 
Nil 
20% 
Estate value thresholds 
0 - £325,000 
Over £325,000 
Death rate 
Nil 
40% 
0 - £325,000 
Over £325,000 

Mileage Allowances 

Current rates of mileage costs  
 
Car / van 
Motorcycle 
Bicycle 
First 10,000 miles 
£0.45 
£0.24 
£0.20 
Over 10,000 miles 
£0.25 
£0.24 
£0.20 

Company Cars: Advisory Fuel Rates - 01/03/2022 

Engine Size  
1400cc or less 
1401cc to 2000cc. 
Over 2000cc 
Petrol — amount per mile 
13p 
15p 
22p 
LPG — amount per mile 
8p 
10p 
15p 
Engine Size 
1600cc or less 
1601cc to 2000cc 
Over 2000cc 
Diesel - amount per mile 
11p 
13p 
16p 
Hybrid cars are treated as either petrol or diesel cars for this purpose 
Advisory electricity rate for fully electric cars 
Amount per mile : 5p 
Electricity is not a fuel for car fuel beneifit purposes 

National Insurance 

2022/23 Class 1  
Earnings per week 
6 Apr 22 - 5 Jul 22 
Employee 
Up to £190 
£190-£967 
Over £967 
6 Jul 22 - 5 Apr 23 
Up to £242 
£243-967 
Over £967 
 
Nil 
13.25 
3.25 
 
Nil 
13.25 
3.25 
Employer 
Up to £175 
Over £967 
 
Nil 
15.05 
 
Entitlement to contribution-based benefits for employees retained for earnings between £123 and £190 per week. 
The employer rate is 0% for employees under 21 and apprentices under 25 on earnings up to £967 per week. 
 
Class 1A (employers) 
Class 1B (employers) 
Class 2 (self-employed) 
 
Class 3 (voluntary) 
Class 4 (self-employed) 
15.05% on employee taxable benefits 
15.05% on PAYE Settlement Agreements 
flat rate per week £3.15 
small profits threshold £6,725 per annum 
flat rate per week £15.85 
10.25% on profits between £9,880-£50,270 
Plus 3.25% on profits over £50,270 

Selected Rates 

 
Weekly benefit 
Basic State Pension 
New State Pension 
Statutory Pay Standard Rates 
 
Sick Pay 
Maternity/Adoption Pay - First 6 weeks 
Maternity/Adoption Pay - Remaining Weeks. 
Shared Parental Pay 
 
Paternity Pay 
2022/23 
£ 
137.60 
179.60 
 
- average weekly earnings £s 
99.35 
90% of the employee’s average weekly earnings 
 
156.66 or 90% of the employee’s average weekly earnings, whichever is lower 
156.66 or 90% of the employee’s average weekly earnings, whichever is lower 
156.66 or 90% of the employee’s average weekly earnings, whichever is lower 
National Living Wage and National Minimum Wage 
Age 
From 1 April 2021 
From 1 April 2022 
NLW 
£8.91 
£9.50 (23+) 
21-24 
£8.36 
£9.18 (21-22) 
18-20 
£6.56 
£6.83 
16-17 
£4.62 
£4.81 
Apprentices 
£4.30 
£4.81 
Applies to apprentices under 19, or 19 and over in the first year of apprenticeship. NLW applies to those aged 25 and over 
 
From April 2022 - NLW Now applies to those Aged 23+ (previously was 25+) 
 
 

Key Dates and Deadlines 

Payment Dates 
Income Tax and Class 4 NIC 
1st payment on account 
2nd payment on account 
Balancing payment 
Class 2 NIC 
Capital Gains Tax 
Class 1A NIC 
06 July 
 
19 July 
 
 
22 July 
2022/23 
 
31st January (for previous tax year) 
31st July 
31 January 
31st January 
31st December 
 
for forms P11D and P11D(b), ‘Return of Class 1A National Insurance contributions due’ 
for receipt of a cheque payment of Class 1A National Insurance contributions through the post 
if paying electronically, your payment of Class 1A National Insurance contributions must clear into HMRC’s bank account by 22 July 
Corporation Tax - 9 months and one day after the end of accounting period (quarterly instalments if large company) 
Returns Filing Deadlines 
31 May 
6 July  
31 October 
30 December  
 
31 January 2023 
P60s to employees 
P11D and P11D(b) and copies to employees 
Paper Self Assessment Tax Return (SATR) 
SATR Online where outstanding tax (subject to cap) to be included in 2022/23 PAYE code 
SATR Online 

Corporation Tax Rates 

Financial Year 2022-23 
Main Rate 
Small Profits Rate 
Lower Threshold 
Upper Threshold 
Financial Year 2023-24 
Main Rate 
Small Profits Rate 
Lower Threshold 
Upper Threshold 
19% 
N/A 
N/A 
N/A 
 
25% 
19% 
£50,000 
£250,000 

Value Added Tax 

 
Standard rate 
Reduced rate 
Annual Registration Limit 
Annual Deregistration Limit 
VAT Flat Rate Scheme 
 
VAT Cash Accounting Scheme 
2022/23 
20% 
5% 
£85,000 
£83,000 
Company Turnover must be £150,000 or less 
Company Turnover must be £1.35 million or less 
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