What does PAYE mean?July 28, 2021
What does PAYE mean?
How is PAYE calculated?
|Band||Taxable income||Tax rate|
|Personal Allowance||Up to £12,570||0%|
|Basic rate||£12,571 to £37,700||20%|
|Higher rate||£37,701 to £125,140||40%|
|Band||Taxable income||Scottish tax rate||Personal Allowance||Up to £12,570||0%|
|Starter rate||£12,571 to £14,732||19%|
|Basic rate||£14,733 to £25,688||20%|
|Intermediate rate||£25,689 to £43,662||21%|
|Higher rate||£43,663 to £125,140||41%|
Who qualifies for PAYE?
How do I set up PAYE?
When do I need to pay my PAYE bill?
|Number of defaults in a tax year||Penalty percentage applied to the amount that is late in the relevant tax month (ignoring the first late payment in the tax year)|
|1 to 3||1%|
|4 to 6||2%|
|7 to 9||3%|
|10 or more||4%|