Payroll & PAYE

In this section we consider some of the most important tax issues for employers and employees. Is your tax code correct? - A Guide from Wimbledon Accountants The purpose of the PAYE system is to collect the right amount of tax from your earnings throughout the course...

Income Tax Rates and Bands Recent income tax rates and bands are as follows: 2015/16 2016/17 2017/18 Savings rate: 10%, 0% from 2015/16 0 - £5,000 0- £5,000 0- £5,000 Dividend Allowance: 20% NA 0 - £5,000 0 - £5,000 Basic rate: 20% 0 - £31,785 0 - £32,000 0 - £33,500 Higher rate: 40% £31,786 - £150,000 £32,001 - £150,000 £33,501 - £150,000 Additional rate:...

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