Happy New Tax Year!

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Happy new tax year!Happy New Tax Year, everyone! This day officially marks the start of the new tax season. Along with that, come changes to different categories like the Personal allowance, Income tax, National insurance and a few other categories. Here are some of the changes coming to some of the taxes.

Personal allowance

The amount you can earn without paying income taxes has risen from £11,500 to £11,850, which works out as a tax cut of £70 for most people.

National Insurance

Will be charged 12% of income on earnings above £8,424, up from £8,164 until you earning more than £46,350, after which the rate drops to 2%.

Income tax

The starting point for paying 20% basic rate tax will be £11,850, while tax will start on earnings above £46,350 (up from £45,00).

Nevertheless, do not fret! At Ink N Toner UK, we will not be making any changes to our prices for the new tax year so you won’t need to worry about the through the roof prices! After all, we pride ourselves on keeping our prices as low as possible so you, the customer, can get a great value for money!

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We hope this Blog post was useful to you and we encourage you to come back every Friday, when we post new content on our Blog! See you next week!

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Address: 61 East Barnet Road, Barnet, EN4 8RN

Tel: 020 8216 5571