Real Time InformationMarch 15, 2013
Annual Investment AllowanceMarch 15, 2013
The personal allowance (tax-free income) for 2013/14 will be £9,440. This means that an individual can earn £181.54 per week (approx £787 per month) tax free.The NIC thresholds will not increase by as much, therefore an employee will start to pay NICs on income below the tax-free threshold. In 2013/14 the class 1 primary NI earnings threshold for employees will be £149 per week (£7,755 per year). Employers will pay class 1 NI on wages of £148 or more per week (£7,700 per year).