Software developers: Payroll rates and thresholds for 2019-20
08 November 2018
HMRC’s Software Developers Support Team (SDST) has provided the following information:
Personal Allowance:
12,500
PAYE Thresholds:
Weekly: 240
Monthly: 1,042
Standard / Emergency tax code:
1250L
Tax Code uplifts:
L: 11850 to 12500 = 650 increase, therefore uplift 65
M: 13040 to 13750 = 710 increase, therefore uplift 71
N: 10660 to 11250 = 590 increase, therefore uplift 59
Income Tax Rates – England & Northern Ireland:
Basic rate 20% 1 – 37,500
Higher rate 40% 37,501 – 150,000
Additional rate 45% 150,001 >
Income Tax Rates - Scotland:
To be advised – Scottish Draft Budget 12 December 2018
Income Tax Rates – Wales Proposed - Ratification due 15 January 2019:
Basic rate 20% 1 – 37,500
Higher rate 40% 37,501 – 150,000
Additional rate 45% 150,001 >
Higher rate threshold – England and Northern Ireland:
50,000
Higher rate threshold - Scotland:
To be advised.
Higher rate threshold – Wales:
50,000
Student Loan & Postgraduate Loan Thresholds and deduction rates:
Student Loan Plan 1 £18,935 9%
Student Loan Plan 2 £25,725 9%
Postgraduate Loan £21,000 6%
Employment Allowance:
£3,000
Statutory Payments rates:
To be advised.
Class 1 National Insurance contributions
NI rates and earnings limits 2019-20
National Living Wage & National Minimum Wage rates:
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CIPP comment The Finance (No.3) Bill 2018 was published on 7 November 2018, along with the necessary supporting documents. We shall be scrutinising the Bill and bringing your further news items with details of the ‘need to know’ items that may not have highlighted at Budget 2018. |