TaxPenny News

We have now updated our 2010/2011 Tax Calculator to include the latest tax rates and allowances figures as published on the HMRC website.

Our estimates were quite off as there were not any changes to the personal allowances, higher rate threshold, national insurance thresholds and earning limits.

However, the main changes in the form of the allowance reducer for incomes over £100k were as predicted - but the stop limit at removing only half the allowance has been changed and now the entire personal allowance can be removed.

People earning over £150k will still be taxed at 50% and have zero allowances as implemented on our estimated calculator.