Payroll rates and thresholds for 2018-19
04 December 2017
Following the publication of the Finance Bill, HMRC’s Software Developers Support Team (SDST) has provided the rates and thresholds for the 2018-19 tax year.
Personal Allowance:
£11,850
Standard tax code:
1185L
Higher rate threshold (rUK):
£46,350
Income Tax rates (rUK):
Basic rate 20% £1 – 34,500
Higher rate 40% £34,501 – 150,000
Additional rate 45% £150,001 and above
Tax code uplifts:
• Suffix L: 11500 to 11850 = 350 increase, therefore uplift 35
• Suffix M: 12650 to 13035 = 385 increase, therefore uplift 39
• Suffix N: 10350 to 10665 = 315 increase, therefore uplift 31
National Minimum Wage (NMW) and National Living Wage (NLW) rates from 1 April 2018:
Aged 25 and above (NLW rate) - £7.83
Aged 21 to 24 inclusive - £7.38
Aged 18 to 20 inclusive - £5.90
Aged under 18 (above compulsory school leaving age) - £4.20
Apprentices aged under 19 - £3.70
Apprentices aged 19 and over (first year of apprenticeship) - £3.70
Student Loan thresholds:
Plan Type 1 £18,330
Plan Type 2 £25,000
Employment Allowance:
£3,000
Apprenticeship Levy:
Allowance £15,000
Rate 0.5%