2022/23 Tax Tables

Please find below the link to our updated Tax Tables for the 2022/23 tax year. These tables are up-to-date with everything announced in the Winter Economy Plan 2021, Autumn Budget 2021, the Scottish and Welsh Budgets 2021 and the Spring Statement 2022, giving you all the key numbers in one place.


Several key allowances, including the personal allowance and higher and additional tax thresholds, capital gains tax, inheritance tax and pensions were frozen. In the current inflationary context, these freezes are tantamount to tax increases.

Key changes for the forthcoming 2022/23 tax year include:

• The rate of tax dividends above the dividend allowance will rise by 1.25 percentage points.

• National insurance rates will rise by 1.25 percentage points in 2022/23 as announced in the NHS/social care package.

• The primary threshold for Class 1 national insurance contributions (NICs) will increase from £9,880 a year to £12,570 a year from 6 July 2022, bringing it in line with the frozen personal allowance.

• For company directors, who are subject to special rules, the equivalent annual amount from July will be £11,908. From 2023/24, all employees will share the same £12,570 annual threshold. The maximum potential Class 1 employee NICs saving in 2022/23 is £269.

• For the self-employed, the lower profits limit will increase from £9,880 to £11,908 in 2022/23, rising to £12,570 in 2023/24. Class 2 NICs will not be payable if profits are below these limits. The maximum potential Class 4 NICs saving in 2022/23 is £208.

• The employment allowance will be increased to £5,000 from April 2022.

• VAT relief for the installation of energy saving materials (ESMs) will be extended and there will be a time-limited zero rate for the installation of ESMs.

If you have any questions about the contents of your Tax Tables or how any aspects of your tax and financial planning may be affected in the forthcoming tax year, please reach out to your dedicated partner or manager to discuss them.


Main personal allowances and reliefs22/2321/22
Personal allowance*£12,570£12,570
Marriage/civil partner’s transferable allowance Married couple’s/civil partner’s allowance at 10%†£1,260£1,260
(if at least one born before 6/4/35) – maximum£9,415£9,125
– minimum£3,640£3,530
Blind person’s allowance£2,600£2,520
Rent-a-room relief£7,500£7,500
Property allowance and trading allowance (each)£1,000£1,000

*Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000

Married couple’s/civil partner’s allowance reduced by £1 for every £2 of adjusted net income over £31,400 (£30,400 for 21/22) ,until minimum reached

UK taxpayers excluding Scottish taxpayers’
non-dividend, non-savings income
20% basic rate on first slice of taxable income up to£37,700£37,700
40% higher rate on next slice of taxable income over£37,700£37,700
45% additional rate on taxable income over£150,000£150,000
Scottish taxpayers – non-dividend, non-savings income
19% starter rate on taxable income up to£2,162£2,097
20% basic rate on next slice up to£13,118£12,726
21% intermediate rate on next slice up to£31,092£31,092
41% higher rate on next slice up to£150,000£150,000
46% top rate on income over£150,000£150,000

All UK taxpayers

Starting rate at 0% on band of savings income up to**£5,000£5,000

Personal savings allowance at 0%:

Basic rate£1,000£1,000
Higher rate£500£500
Additional rate£0£0
Dividend allowance at 0%:All individuals£2,000£2,000

Tax rates on dividend income:

Basic rate8.75%7.5%
Higher rate33.75%32.5%
Additional rate39.35%38.1%
Trusts: Standard rate band generally:£1,000£1,000

Rate applicable to trusts:

Other income45%45%

**Not available if taxable non-savings income exceeds the starting rate band

High Income Child Benefit Charge, 1% of benefit per £100 of adjusted net income between £50,000–£60,000


Lifetime allowance£1,073,100£1,073,100
Money purchase annual allowance£4,000£4,000
Annual allowance*£40,000£40,000

Annual allowance charge on excess is at applicable tax rate(s) on earnings Lifetime allowance charge if excess is drawn as cash 55%; as income 25% Pension commencement lump sum up to 25% of pension benefit value

*Reduced by £1 for every £2 of adjusted income over £240,000 to a minimum of

£4,000, subject to threshold income being over £200,000


New state pension – where state pension age reached after 5/4/16£9,627.80£185.15
Basic state pension – single person*£7,376.20£141.85
Basic state pension – spouse/civil partner*£4,420.00£85.00

*State pension age reached before 6/4/16


Total Individual Savings Account (ISA) limit, excluding Junior ISAs (JISAs)£20,000£20,000
Lifetime ISA£4,000£4,000
JISA and Child Trust Fund£9,000£9,000
Venture Capital Trust (VCT) at 30%£200,000£200,000
Enterprise Investment Scheme (EIS) at 30%*£2,000,000£2,000,000
EIS eligible for CGT deferral reliefNo limitNo limit
Seed EIS (SEIS) at 50%£100,000£100,000
SEIS CGT reinvestment relief50%50%

*Above £1,000,000 investment must be in knowledge-intensive companies


Class 1Employee Employer
NICs rate13.25%15.05%
No NICs for employees generally on the first£242 pw†£175 pw
No NICs* for:  younger/veteran employees on first   £242 pw†£967 pw
No NICs* for: freeport employees on first£242 pw†£481 pw
NICs rate charged up to        £967 pwNo limit
3.25% NICs on earnings over£967 pwN/A

*Employees generally under 21 years and apprentices under 25 years. Veterans in first 12 months of civilian employment. Employees at freeports in Great Britain in the first three years of employment from 6 April 2022

Employment Allowance£5,000

Per business – not available if sole employee is a director or employer’s NICs for 21/22 £100,000 or more

Limits and ThresholdsWeeklyAnnual
Lower earnings limit£123£6,396
Primary threshold£242†£12,570**
Secondary threshold£175£9,100
Upper earnings limit (and upper secondary thresholds)£967£50,270
Class 1A EmployerOn car and fuel benefits and most other
taxable benefits provided to employees and directors
Class 2 Self-employedFlat rate per week£3.15  (£163.80 pa)
Small profits threshold£6,725
Class 4 Self-employedOn annual profits of £11,908 to £50,270:10.25%
Over £50,270:3.25%
Class 3Voluntary flat rate per week£15.85  (£824.20 pa)

†£190 pw before 6 July 2022                                            **£9,880 before 6 July 2022


Tax Rates – Individuals22/2321/22
Below UK higher rate income tax band10%10%
Within UK higher and additional rate income taxbands 20%20%
Tax Rate – Trusts and Estates20%20%
Surcharge for residential property and carried interest 8%8%
Annual exempt amount: Individuals, estates, etc. £12,300 £12,300 
Annual exempt amount: Trusts generally£6,150£6,150
Chattels gain limited to 5⁄3rds of proceeds exceeding£6,000£6,000

Business Asset Disposal Relief – 10% on lifetime limit of £1,000,000 for trading businesses and companies (minimum 5% participation) held for at least 2 years


Nil-rate band*£325,000£325,000
Residence nil-rate band*†£175,000£175,000
Rate of tax on excess40%40%
Rate if at least 10% of net estate left to charity36%36%
Lifetime transfers to and from certain trusts20%20%
Overseas domiciled spouse/civil partner exemption£325,000£325,000
100% relief: businesses, unlisted/AIM companies, certain farmland/ buildings
50% relief: certain other business assets e.g. farmland let before 1/9/95
Annual exempt gifts of:£3,000 per donor£250 per donee

Tapered tax charge on lifetime gifts within 7 years of death

Years between gift and death0–33-44-55-66-7
% of death tax charge10080604020

*Up to 100% of the unused proportion of a deceased spouse’s/civil partner’s nil-rate band and/or residence nil-rate band can be claimed on the survivor’s death

Estates over £2,000,000: the value of the residence nil-rate band is reduced by 50% of the excess over £2,000,000


Stamp Duty and SDRT: Stocks and marketable securities0.5%
Additional residential and all corporate residential properties£40,000 or more – add 3% to SDLT rates and 4% to LBTT and LTT rates

England & N Ireland – Stamp Duty Land Tax (SDLT) on slices of value

Residential property%Commercial property*%
Up to £125,0000Up to £150,0000
£250,001–£925,0005Over £250,0005
Over £1,500,00012

*0% for freeport qualifying property in England only

First time buyers: 0% on first £300,000 for properties up to £500,000 Non-resident purchasers: 2% surcharge on properties £40,000 or more Residential properties bought by companies etc. over £500,000: 15% of total consideration, subject to certain exemptions

Scotland – Land and Buildings Transaction Tax (LBTT) on slices of value Residential property%Commercial property%
Up to £145,0000Up to £150,0000
£250,001–£325,0005Over £250,0005
Over £750,00012  

First time buyers: 0% on the first £175,000

Wales – Land Transaction Tax (LTT) on slices of value

Residential property%Commercial property%
Up to £180,0000Up to £225,0000
£400,001–£750,0007.5Over £1,000,0006
Over £1,500,00012  


Years to 31/3/23 and 31/3/22Profits: 19%Diverted profits: 25%
Loans to participators Made in 21/22: 32.5%Made in 22/23: 33.75%


Standard rate20%Domestic fuel5%

Installation of energy saving materials (except Northern Ireland)   0%  Since 1/4/17:

Registration level£85,000
Flat rate scheme turnover limit£150,000
Cash and annual accounting schemes turnover limit£1,350,000


Taxable amount based on original list price and CO2 emissions in g/km.

Zero emission cars 2%

Petrol and diesel hybrids with CO2 emissions 1–50g/km

Range – electric-only miles


All non-diesel cars over 50g/km CO2

51–5455 & over
15%16%* – 37%

*Increased for every extra 5g/km by 1% up to the maximum 37%

Diesels not meeting RDE2: add 4% to non-diesel rates, up to 37%

Fuel Benefit – taxable amount for private use22/2321/22
CO2 % charge used for car benefit multiplied by£25,300£24,600


Zero emission: chargeable amountNilNil
Other vans: chargeable amount£3,600£3,500
Fuel: chargeable amount£688£669


Cars and vans first 10,000 miles     45p per milethen 25p per mile
Qualifying passenger5p per mile
Motorcycles24p per mileBicycles 20p per mile


Plant & machinery (P&M) 100% annual investment allowance (1st year) To 31/3/23£1,000,000
P&M* super-deduction first year allowance (FYA) for companies to 31/3/23130%
Special rate P&M* FYA for companies to 31/3/2350%
Plant and machinery**18%
Patent rights and know-how**25%
Special rate P&M e.g. long-life assets and integral features of buildings**6%
Structures and buildings (straight line)†3%
Electric charge points100%

Motor Cars

CO2 emissions of g/km:0*1-50Over 50
Capital allowance:100% first year18% pa**6% pa**

*New and unused only **Annual reducing balance 10% for freeport sites in GB

Research and Development

Capital expenditure100%
Revenue expenditure relief – small/medium-sized companies230%
Research and development expenditure credit – large companies13%

© Copyright 23 March 2022                        Subject to relevant legislation For information only     Always seek professional advice before acting

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