INCOME TAX RATES AND ALLOWANCES Individual savings account (ISA) limit
2022/23
2021/22
Maximum contribution
£20,000
£20,000
£9,000
£9,000
Junior ISA – maximum contribution*
* Available for children under age 18 who live in the UK and do not have a child trust fund.
Lifetime ISA Upper age limit Annual contribution limit Government contribution
2022/23
2021/22
40
40
£4,000
£4,000
25%
25%
Withdrawals can be made after 12 months to buy a home or for any reason after the age of 60. Other withdrawals are subject to a 25% penalty. TIMETABLE FOR SELF-ASSESSMENT Date
Event
31 July 2022
Second payment on account for 2021/22
5 October 2022
Deadline for notification of chargeability 2021/22
31 October 2022
File paper return for 2021/22 to HMRC
30 December 2022
File return for 2021/22 for a tax underpayment of less than £3,000 to be collected via PAYE during 2023/24
31 January 2023
File electronic return for 2021/22 Balancing payment for 2021/22 First payment on account for 2022/23
3
