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Income Tax Rates 2013 - 2014

Income Tax allowances and bands for the 2013-14 tax year have now been published. Legislation is being introduced to bring these into effect from Saturday 6 April 2013. These rates were announced in the 2012 Budget and confirmed in the recent Autumn Statement.


Bands of Taxable Income

2012-13 £ a year 2013-14 £ a year
Basic rate (20%) 0-34,370 Basic rate (20%) 0-32,010
Higher rate (40%) 34,371-150,000 Basic rate (40%) 32,011-150,000
Additional (50%) Over 150,000 Basic rate (45%) Over 150,000

Income Tax allowances

Personal Allowance £ a year
  2012-13 Change 2013-14
Aged 65 and under 8,105  
Aged 65 - 74 10,500  
Aged 75 and over 10,660  
Those born after 5 April 1948   1,335 9,440
Those born between 6 April 1938 and 5 April 1948   10,500
Those born before 6 April 1938   10,660
Married Couples' Allowance £ a year
  2012-13 Change 2013-14
Allowance (maximum amount) 7,705 210 7,915
Minimum amount 2,960 80 3,040
Blind Persons' Allowance £ a year
  2012-13 Change 2013-14
Blind Person's Allowance 2,100 60 2,160

Class 1 NIC Rates 2013-14

Employer (Primary) Employer (Secondary)
Earnings £ a week NIC rate % Earnings £ a week NIC rate %
Below £109 (LEL, lower earnings limit) 0 Below £148 (ST, secondary threshold) 0
£109-£149 (PT, primary threshold) 0 Above £148 13.8
£149-£797 (UEL, upper earnings limit) 12    
Above £797 2    

Self-employed NIC Rats 2013-14

Annual Profits £ a week Class 2 £ a week Class 4%
Below £5725 (SEE, small earning exception) £0.00 0%
£5,725 to £7,755 (LPL, lower profits limit) £2.70 0%
£7,755 to £41,450 (UPL, upper profits limit) £2.70 9%
Above £41,450 £2.70 2%

Other NICs Rates

  2012-13 2013-14
Married Women's reduced rate (per cent) 5.85% 5.85%
Special Class 2 rate for share fishermen £3.30 per week £3.35 per week
Special Class 2 rate for wolunteer development workers £5.35 per week £5.45 per week
Class 3 rate £13.25 per week £13.55 per week

Working and Child Credit Tax Rates & Thresholds

  £ a year
  2012-13 Change 2013-14
Working Tax Credit      
Basic element 1,920 0 1,920
Couple and lone parent element 1,950 20 1,970
30 hour element 790 0 790
Disabled worker element 2,790 65 2,855
Severe disability element 1,190 30 1,220
Childcare element    
maximum eligible cost for ONE chiled £175 per week - £175 per week
maximum eligible cost for ONE chiled £300 per week - £300 per week
per cent of eligible costs covered 70 per cent - 70 per cent
Chiled Tax Credit      
Family element 545 0 545
Child element 2,690 30 2,720
Disabled child element 2,950 65 3,015
Severely disabled child element 1,190 30 1,220
Income Threshold & Withdrawal Rates      
Income threshold 6,420 0 6,420
Withdrawal rate (per cent) 41% 0 41%
First threshold for those entitled to Child Tax Credit only 15,860 50 15,910
Income rise disregard 10,000 -5,000 5,000
Income fall disregard 2,500 0 2,500

Child Benefit and Guardian's Allowance

  £ a week
  2012-13 Change 2013-14
Chiled Tax Credit      
First Child 20.30 - 20.30
Rate for additional children 13.40 - 13.40
Chiled Tax Credit 15.55 0.35 15.90

Tax-free Savings Accounts

  £ a week
  2012-13 Change 2013-14
Individual Savings Account (ISA) subscripion limit      
Overall limit 11,280 - 11,520
of which cash 5,640 - 5,760
of which stocks and shares 11,280 - 11,520
Junior ISA subscription limit 3,600 120 3,720
Child Trust Fund (CTF) subscripotion limit 3,600 120 3,720

Fuel Benefit Charge

Company Car Tax Fuel Benefit Charge 2012-13 Change 2013-14
Junior ISA subscription limit £20,200 900 £21,100
Child Trust Fund (CTF) subscripotion limit £550 14 £564