PAYE and Pension Rates and Thresholds
PAYE Tax Threshold 2019 - 2020;
£240.00 per week
£1,042.00 per month
£12,500.00 per annum
Basic Rate Tax is currently at 20% on annual earnings above Personal Allowance up to £37,500.
The Higher Tax Rate of 40% is applicable to all annual earnings above £37,501 up to £150,000.
Pension Threshold 2018 - 2019
£192.00 per week
£833 per month
£10,000 per annum
The above earnings trigger automatic enrolement. If staff members fall below these thresholds but wish to join a pension scheme, this must be offered to them.