Following the Chancellor’s announcement, the basic personal allowance for the 2008-2009 tax year is increasing by £600 from £5,435 to £6,035.

Although the basic rate remains at 20% the basic rate limit is reducing from £36,000 to £34,800.

Individual employee tax codes are being uplifted for all L suffix codes by 60 (e.g. old tax code 543L becomes 603L).

Other codes must await a P6 notification. The P7X(2008)(2) form will detail the main changes and is available from the HMRC website together with other details about the changes.

For more information please See below link:

http://www.hmrc.gov.uk/employers/epa-basicrate.htm

(Existing Cintra customers should also look at the release notes for version 18.8)

 

Join our newsletter