United Kingdom Tax Agency Updates Guidance on Rates, Thresholds for Employers for Tax Year 2025-2026

The United Kingdom HM Revenue and Customs Jan. 31 updated the guidance on the tax year 2025-2026 rates and thresholds for employers, from April 6, 2025, to April 5, 2026. The updated guidance includes: 1) revised weekly, monthly, and annual standard employee personal allowances; 2) updated Class 1 National Insurance thresholds, and the 15 percent rate for National Insurance Class 1A expenses and benefits and Class 1B pay-as-you-earn (PAYE) settlement agreements; 3) revised rates for employee vehicle mileage allowance payments; and 4) the annual employment allowance limit of 10,500 British pounds (US$13,128). The guidance also provides that the updated hourly ...