UK Tax 2022-23

6 April 2022- 5 April 2023

Key Dates

• 6 April 2022 – 2022/23 tax year begins.

• 31 July 2022 – Second payment on a for 2021-22 income tax

• 31 October 2022 – Deadline for postal submissions of self assessment tax returns to be received by HMRC

• 31 January 2023 – Deadline for filing 2021-22 self assessment tax returns. Balancing payment of tax due for 2021-22 and first payment on account for income tax for 2022-23

• 5 April 2023 – 2022-23 tax year ends

• 31 January 2024 - Deadline for filing 2022-23 self assessment tax returns. Balancing payment of tax due for 2022-23 and first payment on account for income tax for 2023-24

Tax rates & allowances for 2022-23

Income tax

Personal allowance: £12,570 - 0%

Basic rate band: £12,571 - 37,700 - 20%

Higher rate bane: £37,701 - 150,000 - 40%

Additional rate: over £150,000 - 45%

National insurance

National insurance is rising by 1.25% from April 2022.

Employees (Class 1) | Threshold £9,568 | Rate 13.25% (main) / 3.25% (higher)

Employers (Class 1) | Threshold £8,840 | Rate 15.05%

Self-employed (Class 4) | Threshold £9,568 | Rate 10.25% (main) / 3.25% (higher)

—> Read more about UK tax

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