With the start of the new calendar year we bring a fresh reminder of the 2013 tax year!
Even though the new UK tax year does not start until the 6th April 2013, we're sure you will appreciate being able to calculate the tax changes due to occur and how they could affect your salary well in advance.
The tax calculators are all updated and ready to go for 2013/2014 so pop over to www.uktaxcalculators.co.uk
to check your pay.
... Or you can get started from here - select 2013 from the drop down list:
A quick reminder of the 2013 tax rates and allowances:
- Personal allowance for people born after April 6th 1948 (Under 65's) will see the amount they can earn tax free rise to £9,440 in the tax year. You should expect to receive a 2013 tax code of 944L if your taxes are straightforward.
- People born earlier than this will see their allowances frozen, so same as last year - however the annual age related allowance increase to £26,100. This means you can earn up to £26,100 before your higher personal allowances starts to get tapered down to the regular £9,440 tax free allowance.
- Important to also note that the National Insurance lower rate band (2%) now kicks in a bit earlier (£41,444) along with the threshold to start paying NIC's starting a bit later (£7,748).
- See the full rates table at http://www.uktaxcalculators.co.uk/how-to-calculate-tax.php#incometax