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Tax thresholds 2021/22
Personal tax thresholds:
During the year any income that you earn through work, either in a self employed capacity of employed, is subject to the personal income tax thresholds. Below are the bands set out by HMRC for the year 6 April 2021 to 5 April 2022
Example of how tax is applied:
Figures taken from HMRC website
Dividend thresholds:
If you have shares in a limited company, you may be entitled to draw dividends as part of your pay or income. This is tax differently from your earnings and therefore have a different scale. Below are the bands set out by HMRC for the year 6 April 2021 to 5 April 2022
Corporation tax thresholds:
If you have a limited company, you will need to pay corporation tax on any profits after all allowances (if appropriate) have been claimed. Below are the bands set out by HMRC for the year 6 April 2021 to 5 April 2022
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