INCOME TAX
2016-17 2015-16 2014-15
Personal allowance (basic) £ 11,000 £ 10,600 £ 10,000
Personal if born before 06/04/38 N/A £ 10,660 £ 10,660
Personal allowance income limit £ 100,000 £ 100,000 £ 100,000
Transferable Marriage allowance £ 1,100 £ 1,060 -
20% tax on taxable income up to £ 32,000 £ 31,785 £ 31,865
40% tax on further income up to £ 150,000 £150,000 £ 150,000
45% tax on further income above £ 150,000 £150,000 £ 150,000
Tax on dividends for:
Basic rate taxpayers 7.5% 10 % 10%
Higher rate taxpayers 32.5% 32.5% 32.5%
Additional rate taxpayers 38.1% 37.5% 37.5%
NATIONAL INSURANCE
Employee Employer
NICs Main Rate 12% 13.8%
No NICs on first £ 155 pw £ 156pw
2% NICs on earnings above £ 827 pw -
Employment allowance per employer £ 3,000
Class 1A Employer 13.8%
Self-employed Class 2 (Flat rate) £ 2.80 pw
Self-employed small profits threshold £ 5,965
Self-employed Class 4 on profits
£ 8,060 - £ 43,000 pa 9%
over £ 43,000 2%
Voluntary Class 3 (Flat rate) £ 14.10 pw