Payroll changes from the 6th April 2013. 

The following rate changes for income tax and nic are to be affective from 6th April 2013.

Income tax.

• The new Tax Code is 944L.
• Tax threshold weekly   £182.00
• Tax threshold monthly £787.00
• Basic rate 20%  from £0 to £32,010
• Higher rate 40% from £32,011 to £150,000
• Additional  rate 50% over £150,000. 

NIC Thresholds.

• Employees Weekly £148 Monthly £641
• Employers Weekly £149 Monthly £646

Percentage of NIC. 

• Employees 12% up to £797 weekly, £798 and above additional 2%.
• Employees 12% up to £3454 monthly, £3455 and above additional 2%.
• Employers 13.8% on all earnings over the thresholds weekly £149 and monthly £646.

Statutory Payments.

• Employees will be entitled to statutory payments if their average weekly earnings are over £109.
• New SSP rate £86.70 per week.
• New SMP/SSP rate £136.78 ( first 6 weeks is still 90% of average weekly wage.)

Student Loans.

• Student loan deduction rate is still 9% but the Thresholds have changed to:
• £16,365.00 per annum.
• £1363.75 per month.
• £314.71 per week.

National Minimum Wage.

National Minimum Wage rates remain the same until 1st October 2013 as a reminder the rates are:-

• 21 years old and over £6.19
• 18 to 20 years old £4.98
• 16 to 17 years old £3.68
• Apprentices under 19 years old £2.65
• Aprentices over 19 years old but in 1st year £2.65