Tax changes to HEPSS Status - minimum earning still £160K.  Tax increased to £43,140 PA. Social Insurance increased this year - See below

 

Gross Income Based (GIB) System Tax Rates

A) Up to £25,000

First £10,000 @  8%

Next  £ 7,000 @ 22%

Balance       @ 30%

B) Above £25,000

First £ 17,000 @ 18%

Next  £  8,000 @ 21%

Next  £ 15,000 @ 27%

Next  £ 65,000 @ 30%

Balance  @ 27%

 

Allowance Based System (ABS) Tax Rates

First £ 4,000 @ 16%

Next  £12,000 @ 19%

Balance       @ 41%

A tax credit of £300 (or 2% if higher) will be given of their annual tax bill.

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Social Insurance contributions increased as from 1st August 2022 - see under:

Employee

10% on Gross earnings Per Week with Maximum of £36.70 and Minimum of £12.50

Employer

19% on Gross earnings Per Week with Maximum of £50.50 and Minimum at £28.50

Married Woman (unchanged)

EE £15.95  - ER 20% Maximum £40.15 - Minimum £18.15

Self Employed

20% on Gross earnings Per Week with Maximum of £50.50 and Minimum of £28.50