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Tax Rates

Tax Rates

Minimum Wages Rates

Period23 and over21 to 2218 to 20Under 18Apprentice
April 2022 to March 2023£9.50£9.18£6.83£4.81£4.81
April 2021 to March 2022£8.91£8.36£6.56£4.62£4.30
25 and over21 to 2418 to 20Under 18Apprentice
April 2020 to March 2021£8.72£8.20£6.45£4.55£4.15
April 2019 to March 2020£8.21£7.70£6.15£4.35£3.90
April 2018 to March 2019£7.83£7.38£5.90£4.20£3.70
April 2017 to March 2018£7.50£7.05£5.60£4.05£3.50
October 2016 to March 2017£7.20£6.95£5.55£4.00£3.40
April 2016 to September 2016£7.20£6.70£5.30£3.87£3.30
21 and over18 to 20Under 18Apprentice
April 2015 to March 2016£6.70£5.30£3.87£3.30
April 2014 to March 2015£6.50£5.13£3.79£2.73
April 2013 to March 2014£6.31£5.03£3.72£2.68
April 2012 to March 2013£6.19£4.98£3.68£2.65

Corporation Tax Bands

Rate202320222021202020192018201720162015
Small profits rate (companies with profits under £300,000)19%0%0%0%0%0%0%0%0%
Main rate (companies with profits over £300,000)0%0%0%0%0%0%0%0%0%
Main rate (all profits except ring fence profits)25%19%19%19%19%19%19%20%20%
Special rate (unit trusts and open-ended investment companies)20%20%20%20%20%20%20%20%20%

Personal Tax Allowances

BandRate2021 to 20222020 to 20212019 to 20202018 to 2019
Starting rate for savings10%Up to £5,000Up to £5,000Up to £5,000Up to £5,000
Basic rate20%Up to £50,270Up to £37,500Up to £37,500Up to £34,500
Higher rate40%£50,271 to £150,000£37,501 to £150,000£37,501 to £150,000£34,501 to £150,000
Additional rate45%Over £150,000Over £150,000Over £150,000Over £150,000

All sourced from Gov.uk