Skip to content
01844 274808 info@harmonea.co.uk

Rates and Thresholds from April 2019 to March 2020

Below are some of the changes to rates and thresholds, as advised by HMRC.  These will become effective from April 2019.

 

Personal Allowance                £12,500 per year.

Basic Tax Rate                         20% on annual earnings above the personal allowance, up to £37500.

Higher Tax Rate                      40% on annual earnings from £37501 to £150,000.

Additional Tax Rate                45% on annual earnings above £150,000.

 

The threshold above which both employers’ and employees’ national insurance contributions will begin is £8,632 per year, or £719 per month.

The new minimum wage rates from 1st April will be :-

Age 25 and above                                                                                                 £8.21

Age 21 to 24 inclusive                                                                                          £7.70

Age 18 to 20 inclusive                                                                                          £6.15

Aged under 18, but above compulsory school leaving age                           £4.35

Apprentice under 19 years old                                                                           £3.90

Apprentice over 19 years old, but in first year of the apprenticeship        £3.90

Facebooktwitterredditlinkedinmail