Payroll tax changes: Key updates and guidance
by Intuit•4• Updated 1 week ago
Learn about the latest payroll tax changes and how QuickBooks Payroll helps you stay compliant across tax years.
Note: For the most up-to-date information on tax codes and payroll changes, refer to HMRC guidance. You can also check your current tax code using HMRC's online tax code checker
Income tax rates and thresholds
Income Tax is the tax you pay on your yearly earnings. The amount you owe depends on how much you earn and your Personal Allowance, which is included in your tax code.
Select the relevant heading to see the tax bands and rates:
| For more detail, see our guide to Understanding Income Tax. To estimate what you’ll pay, use HMRC’s official calculator. Current and past rates and allowances are listed on the HMRC site. |
Automatic enrolment earnings thresholds
Statutory weekly payments
Student and postgraduate loans
Employment allowance
Employers may be eligible for the Employment Allowance, which reduces your National Insurance liability by up to ÂŁ10,500. If you're eligible, update your payroll settings and notify HMRC via an Employer Payment Summary (EPS). Check your eligibility on the HMRC website.
Employer Payment Summary (EPS) and Construction Industry Scheme (CIS) Suffered
If you're a subcontractor, you can reclaim CIS tax deductions made by your clients. To do this, submit an EPS each month to HMRC listing the CIS deductions for the year.
Key points:
- Always include your Unique Taxpayer Reference (UTR) to avoid your EPS being rejected.
- Make sure you submit to HMRC on time to stay compliant.