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The United Kingdom of Great Britain and Northern Ireland
London
66.65 million
Pound sterling (£)
.uk
+44
Pound sterling (£)
Band |
Taxable Income |
Tax Rate |
Personal Allowance |
Up to £12,500 |
0% |
Basic Rate |
£12,501 to £50,000 |
20% |
Higher Rate |
£50,001 to £150,000 |
40% |
Additional Rate |
over £150,000 |
45% |
Deductible Expenses |
||
Employment Deductions |
Business Deductions |
Personal Deductions |
|
|
|
Type of Visa/ Permit |
Documentation |
Validity |
Eligibility |
Tier 1 (Innovator Visa) |
|
3 years |
|
Tier 1 (Startup Visa) |
|
2 years |
|
Tier 2 (General Category) |
|
Maximum 5 years |
|
Tier 2 (ICT Category) |
|
Maximum |
|
Tier 5 |
|
12 to 24 months |
|
VAT |
|
Type |
Rate |
Standard Rate |
20% |
Reduced Rate |
5% |
Zero Rate |
0% |
WHT |
||||
Type of Payment |
Residents |
Non-residents |
||
Company |
Individual |
Company |
Individual |
|
Dividends |
0% |
0% |
0% |
0% |
Interest |
0% |
0%/20% |
20% |
20% |
Royalties |
0% |
0%/20% |
20% |
20% |
Statutory Benefits |
Probationary Period |
Annual Leave |
Public Holidays |
Sick Leave |
Maternity Leave |
Paternity Leave |
Parental Leave |
Adoption Pay |
Notice Period |
Severance Pay |
Social Security Benefits |
Christmas Bonus% |
0% |
Christmas Bonus Over Vacations % |
0% |
Severance per Year % |
* No right to severance, however, after two years of employment the calculations are made with the redundancy formulae. |
Vacations % | All full-time employees in the UK are legally entitled to 28 days of paid vacation per year (7.67% of annual salary) |
Notice % |
Employees are entitled to 1 week notice period for one year of service or more (1.37%) |
Christmas Bonus Over Notifications% | 0% |
Vacations Plus% |
0%
|
Total percentage of Salary (yearly)
|
The total employment accruals as a percentage of salary per anum are equal to 6.86%
|
Social security on above GBP702 | 13.80% |
maternity leave | 1year |
Vacations | 7.67% |
Description | Employers are required to contribute 13.8% of the employee’s salary above GBP702 per month to Employer’s National Insurance. If you are employed and pregnant, you are entitled to 52 weeks (1 year) of maternity leave, no matter how long you've worked for your employer. This is made up of 26 weeks of ordinary maternity leave and 26 weeks of additional maternity leave.
|
Employment Accruals | ||
Annual Leave | All full-time employees in the UK are legally entitled to 28 days of paid vacation per year (known as statutory leave entitlement or annual leave). | This equals 7.67% (28/365 days) of annual income |
Maternity Leave | Employees receive Statutory Maternity Pay for up to 39 weeks. • 90% of average weekly earnings (before tax) for the first 6 weeks • £139.58 (current since April 2016) or 90% of average weekly earnings (whichever is lower) for the next 33 weeks |
This equals 90% of 75% (39/52 weeks) of annual income |
Paternity Leave | Fathers can choose to take either 1 or 2 weeks. The statutory weekly rate of Paternity Pay is £151.20, or 90% of your average weekly earnings (whichever is lower). |
This equals 90% of 3.84% (2/52 weeks) of annual income |
Sick Leave | Employees in the UK are entitled to Statutory Sick Pay for up to 28 weeks, paid for by the employer. | This equals 53.8% (28/52 weeks) of annual income |
Severance Pay | Severance pay is given when an employee is terminated due to redundancy and the employee has worked for the employer continuously for at least two years prior to the redundancy, according to the following schedule: • one half of one week’s pay for each year of service where the employee was below the age of 22 • one week’s pay for each year of service where the employee was between 22 to 40 of age • 1 1/2 week’s pay for each year of employment where the employee was 41 and over |
This equals 1.92% (1/52 weeks) of annual income |
Social Security | Class 1 Secondary NIC is payable by employers at 13.8 percent. Class 1A NIC is payable by employers at 13.8 percent | This equals 13.8% of annual income |