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Latest News

Tax Rates

14-01-2019

HMRC have published a comprehensive list of income tax and NIC rates and thresholds relevant to employers for 2019/2020.

The rates, which can all now be accessed from a single web page, will be useful for payroll and calculating employee expenses. Details include:

  • PAYE tax and Class 1 National Insurance contributions
  • Tax thresholds, rates and codes
  • Class 1 National Insurance thresholds
  • Class 1 National Insurance rates
  • Class 1A National Insurance: expenses and benefits
  • Class 1B National Insurance: PAYE Settlement Agreements (PSAs)
  • National Minimum Wage
  • Statutory Maternity, Paternity, Adoption and Shared Parental Pay
  • Statutory Sick Pay (SSP)
  • Student loan and Postgraduate loan recovery
  • Company cars: Advisory Fuel Rates (AFRs)
  • Employee vehicles: Mileage Allowance Payments (MAPs)

View Rates and thresholds for employers: 2019 to 2020.


29-08-2018

The rate charged for late paid corporation tax paid by quarterly instalments rose on 13 August 2018 from 1.5% to 1.75%. The interest rate charged on late payments of all other taxes and national insurance contributions collected by HMRC rose from 3% to 3.25% on 21 August 2018.

There is currently no increase in the beneficial loan interest rate which stands at 2.5% although it is expected to rise from 6 April 2019.

04-12-2017

Interest on late payment of the main taxes increased from 2.75% to 3% with effect from 21 November. Interest on repayments of tax is unchanged at 0.5%

04-02-2014

HMRC has published draft regulations which set out the National Insurance contributions rates, thresholds and limits for the 2014/15 tax year - click here for more information

16-03-2009

For changes to interest charges arising on late payment of tax and on overpaid tax please click in the title.

05-03-2009

The 'oficial rate' of interest used to calculate the P11d benefit of a cheap loan from an employer to an employee has fallen from 6.25% to 4.75%.  The new rate comes into effect on 1st March 2009.

30-10-2007

New Government fuel rates announced with effect from 1 August 2007 are as follows:

02-02-2007

New Government fuel rates announced with effect from 1 February 2007 are as follows:


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Tax Rates & Allowances

Find all the key tax rates and allowances in one convenient place.

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