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UK Tax Tables 2022/2023

Tax Rates and Allowances

2021-22 (£) 2022-23 (£) Increase (£)
INCOME TAX ALLOWANCES:
Personal allowance 12,570 12,570 -
CAPITAL GAINS TAX ANNUAL EXEMPT AMOUNT:
Individuals etc: 12,300 12,300 -
Inheritance tax threshold 325,000 325,000 -
PENSIONS SCHEMES:
Annual allowance: £40,000 £40,000 -
Lifetime allowance: 1,073,100 1,073,100 -

Taxable Bands

Taxable bands 2021-22 (£) Taxable bands 2022-23 (£)
*Starting rate 0% 0 - 5,000 *Starting rate 0% 0 - 5,000
Basic rate 20% 0 - 37,700 Basic rate 20% 0 - 37,700
Higher rate 40% 37,701 - 150,000 Higher rate 40% 37,701 - 150,000
Additional rate 45% Over 150,000 Additional rate 45% Over 150,000

(*) From 2008-09 there is a starting rate for savings income only. If an individual’s taxable non-savings income exceeds the starting rate limit, then the starting rate for savings will not be available for savings income.

Corporation Tax Rates

Band Corporation tax profits 2021-22 (£) Corporation tax profits 2022-23 (£)
0 - 50,000 19% 19%
50,001 - 250,000 19% 19%
250,001 or more 19% 19%

National Insurance Rates

2021-22 2022-23
Primary threshold £184 per week £190/242 per week
Secondary threshold £170 per week £175 per week
Employees’ primary class 1 rate on earnings between primary threshold and upper earnings limit 12% of £170.01 to £967 per week 2% above £967 per week 13.3% of £175.01 to £967 per week 3.25% above £967 per week
Employers’ secondary Class 1 rate 13.8% on earnings above £170 per week 15.05% on earnings above £175 per week
Class 4 rate 9% of £9,568 to £50,270 per year 2% above £50,270 per year 10.25% of £11,908 to £50,270 per year 3.25% above £50,270 per year
Class 4 lower profits limit £9,568 per year £11,908
Class 4 upper profits limit £50,270 per year £50,270

For further rates and allowances and historic tables see HMRC.