the table or rotate phone to view in landscape2020 - 2021 Income Tax and NI calculator
Personal Allowance 2020/2021
What is Personal Allowance? Personal Allowance is the portion of your earning where tax is not applied, making that portion of your earning tax free.
| Earning | Personal Allowance (per year) | |
|---|---|---|
| If you are earning up to £100,000 | £12,500 | |
| If you are earning between £100,000 and £125,000 | Decreases from £12,500 by 50% of every pound you earn (above £100,000) until it reaches £0 | |
| If you are earning £125,000 or more | £0 |
|
| Blind person receive an additional amount of £2500 on top of the personal allowance | ||
Tax Rates 2020/2021
These rates apply to different portions of your earnings
Tax rates for Eng, Wales & N.Ireland
| Your earning [per year if you have full standard Personal Allowance] | Tax Rate 2020 - 2021 | That is |
|---|---|---|
| Up to £12,500 | No tax taken | £0 |
| £12,501 - £50,000 | 20% | Basic rate |
| £50,001 - £150,000 | 40% | Higher rate |
| over £150,000 | 45% | Additional rate |
Tax rates for Scotland
| Your earning [per year if you have full standard Personal Allowance] | Tax Rate 2020 - 2021 | That is |
|---|---|---|
| Up to £12,500 | No tax taken | £0 |
| £12,501 - £14,585 | 19% | Starter rate |
| £14,586 - £25,158 | 20% | Basic rate |
| £25,159 - £43,430 | 21% | Intermediate rate |
| £43,431 - £150,000 | 41% | Higher rate |
| over £150,000 | 46% | Top rate |
National Insurance rate 2020/2021
These rates below apply to different portions of your earning.
| Your Earning [Per year] |
National Insurance Rate | That is |
|---|---|---|
| Earnings up to £9500 | 0% | No National Insurance contribution is payable |
| Earnings between £9500 and £50,000 | 12% | Salary minus £9500 = X, 12% of X |
| Earnings £50,000 or more | 2% | £50,000 minus £9500 = £40,500, 12% of £40,500 plus salary minus £50,000 = X, 2% of X |
Any feedbacks are welcome. Please email admin@iknowtax.com
Disclaimer: I am not a tax professional, so please do not use this information to make any big decisions. Do consult a professional when making any decisions.