The UK HMRC has published the rates and thresholds for PAYE tax (individual income tax) for the tax year beginning 6 April 2015. PAYE tax rates and threshold are as follows:
- up to GBP 31,785 - 20%
- GBP 31,786 up to 150,000 - 40%
- over GBP 150,000 - 45%
The basic personal allowance is increased from GBP 10,000 to GBP 10,600.
Also published are the rates and thresholds for National Insurance contributions, which vary based on the category of the employee. The rates and thresholds for general …