Business as usual – we’re operating remotely once again. During this time, please may we ask you visit the office for scheduled record drop off only.

Allowances and thresholds update for 2021/22

  • Personal allowance £12,570
  • Basic rate band £37,700
  • Blind person’s allowance £2,520
  • Married couple’s allowance (born before 6/04/35) £9,125
  • Income limit for age-related allowances £30,400
  • Dividend allowance £2,000
  • Personal savings allowance (basic rate taxpayer) £1,000
    • (higher rate tax payer) £500

Personal allowance will be withdrawn at £1 for every £2 by which ‘adjusted’ income exceeds £100,000. No allowance will be given if adjusted income is £125,000 or more.

Up to 10% of the personal allowance (2020/21 £1,250; 2021/22 £1,260) can be transferred to a spouse or civil partner who is no more than a basic rate taxpayer.

Married couple’s allowance is reduced by £1 to every £2 b which adjusted income exceeds the income limit, down to a minimum of £3,530 (2020/21 £3,510)

*personal allowance and tax bands frozen until 2026

No change to capital gains tax, IHT & pensions for now.

NIC thresholds:

  • Class 1 primary threshold £9,570 (£184 pw)
  • Class 1 secondary threshold £8,840 (£170 pw)
  • Class 4 profit threshold £9,570 pa
  • Class 1 primary and Class 4 limit £50,270
  • Class 2 £3.05 pw, profit limit £6,515
  • Class 3 voluntary contributions £15.40 pw