Email: info@taxreturn.co.uk



Please find below details of the new tax rates and allowances

which are applicable for the year commencing April, 2016.


Please do not hesitate to contact us if you would like further information

or you wish to discuss any of the tax rates or allowances in more detail.


                                 

Some Useful Rates

  Weekly Benefit
  2016/17 2015/16
Basic Retirement Pension    
Single person £119.30 £115.95
Couple £190.80 £185.45
Pension Credit Standard Minimum Guarantee    
Single person £155.60 £151.20
Couple £237.55 £230.85
New State Pension    
  £155.65 N/A
Child Benefit    
First eligible child £20.70 £20.70
Each subsequent child £13.70 £13.70
Statutory Sick Pay (SSP)    
Average weekly earnings £112 or over (2015/16 £112) £88.45 £88.45
Statutory Maternity Pay (SMP)    
90% of average weekly pay First 6 weeks First 6 weeks
Lower of £139.58 (2015/16 £139.58) or 90% average weekly earnings Next 33 weeks Next 33 weeks
Minimum rate £100.80 £100.80
Statutory Adoption Pay (SAP) 39 weeks 39 weeks
Statutory Paternity Pay (SPP)* 2 weeks 2 weeks
Both SAP and SPP    
Lower of £139.58 (2015/16 £139.58) or 90% average weekly earnings
Minimum rate £100.80 £100.80
*Additional statutory paternity pay (ASPP) has been replaced by shared parental leave.
 
Jobseeker's Allowance    
Single person (25 or over) £73.10 £73.10
Couple (both 18 or over) £114.85 £114.85
National Living Wage From 1 April 2016  
Age 25 and over £7.20  
National Minimum Wage From 1 Oct 2016 From 1 Oct 2015
  21 - 24 £6.95 £6.70
18 - 20 £5.55 £5.30
16 and 17 £4.00 £3.87
Apprentices* £3.40 £3.30

*Rate applies to apprentices under 19, or those 19 and over in the first year of apprenticeship.

Universal Credit (monthly rates)    
Single person (25 or over) £317.82 £314.67
Couple (where one or both 25 or over) £498.89 £493.95


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