Tax Year 2017/18
As the current tax year comes to an end, the Government have released the new 2017/18 Tax Year Rates and Thresholds.
The new rates will be applied from Thursday 6th April and may affect you.
Below are some of the key changes:
- Personal Tax Allowance: £11,500 (£221 per week)
- National Insurance Thresholds: Lower Earnings Limit: £5,876 (£113 per week)
- National Insurance Thresholds: Employers and Employee: £8,164 (£157 per week)
- National Minimum Wage for an individual aged 25 and over is: £7.50 per hour
- Statutory Sick Pay: £89.35 per week