IMPORTANT DATES FOR INDIVIDUALS AND SELF EMPLOYED:
31st July 2019 Second payment on account of tax for 2019/2020 due to HMRC.
5th October 2019 Deadline to advise HMRC that you need to register Self-Assessment for the tax year 2018/2019.
30th December 2019 Deadline for filing Income Tax return with HMRC if you want any tax collected through your PAYE coding (under £3,000).
31st January 2020 Deadline for filing Income Tax return with HMRC and deadline for payment of any tax, national insurance and student loan owed to HMRC for 2018/2019.
NATIONAL MINIMUM WAGE RATES 1 APRIL 2019:
- The rate for 25 and over will increase by 0.38p from £7.83 to £8.21 per hour.
- The rate for 21-24 year olds will increase by 0.32p from £7.30 to £7.70 per hour.
- The rate for 18-20 year olds will increase by 0.25p from £5.90 to £6.15 per hour.
- The apprentice rate will increase by 0.20p from £3.70 to £3.90 per hour. Apprentices are
entitled to the apprentice rate if they are either:
- Aged 19 or under
- Aged 19 or over and in their first year of apprenticeship.
WORKPLACE PENSION MINIMUM CONTRIBUTIONS ARE INCREASING FROM 6 APRIL 2019:
Employer minimum contribution 3%
Employee minimumcontribution 5%
TAX CHANGES TAKING EFFECT FROM APRIL 2019:
EARNINGS (If you live in England, Wales or Northern Ireland) 2019/20 Rate
Under your personal allowance (PA) No income tax payable
For most, £12,500
Between PA & PA + £37500 (basic rate) 20%
For most, over £12,500 to £50,000
Between PA + £37,500 and £150,000 (higher rate) 40% (1)
For most, over £50,000 to £150,000
Over £150,000 (additional rate) 45%
(1) Personal allowance drops by £1 for every £2 earned over £100,000
Employer National Insurance Contributions no longer have to be made for employees who are under the age of 21.
National Insurance Employment Allowance for April 2019 stays at £3000 per year.