UK Tax and National Insurance

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UK Tax and National Insurance Every person who is employed in the UK by a UK employer is liable to pay UK Tax and National Insurance. The Inland Revenue runs the Tax and national insurance schemes. The Inland Revenue are a government department. If you are new to working in the UK you will have to apply to your local Jobcentre Plus for a national insurance number. A national insurance number ensures that all tax and national insurance contributions are correctly allocated by the Inland Revenue. You should contact the payroll office to obtain forms P46 and P86 on commencement. This form will allow us to register your employment at the University with the Inland Revenue. Form P46 is also available for download from our website. Both rates and percentages are subject to change by the UK government. Income Tax Income tax is assessed on all earnings. The current tax code for a standard employee is 522L. This means that an employee is entitled to earn £5229 in the tax year before tax is due. The tax year runs from April to March. The annual allowance is applied on a monthly basis. This means the monthly tax liability for an employee is calculated as follows: 1st £435.75 per month (£5229 / 12) No tax liablility Next £185.83 per month taxed at 10% Thereafter at 22% up to £2883.33 per month Anything above £2883.33 is taxed at 40% Tax relief is given to contributions to the USS pension scheme. Employees contribute 6.35% Employer contributes 14.00% National Insurance (NI) National Insurance is assessed on all earnings. The current rates are as follows: In USS Pension Scheme No NI liability on 1st £435.00 per month 9.4% up to £2904 per month Thereafter at 1%

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