Accounting News & Insights
Latest Tax Club blog on Personal and Corporate Taxes Released
23rd December 2011
The rates of income tax applying for the year 2012/13 will be unchanged so that the basic rate of income tax is 20%, the higher rate is 40% and the additional rate is 50%.
From 6 April 2012 the Finance Bill includes:
- An increase to the personal allowance by £630 to £8,105 for those under 65; and
- A reduction to the basic rate limit by £630 to £34,370.
To read more visit http://wwtaxclub.blogspot.com/2011/12/update-on-what-we-already-know-personal.html