Beyond personal allowances, the amount of income tax levied will be dependent on a person's income levels. Basic rate taxpayers, those who earn between £12,501 to £50,000, will face a tax rate of 20 percent. This will rise to 40 percent for those earning between £50,001 and £150,000, with anything over £150,000 will face a charge of 45 percent. For those who are unsure of their NI record, the Government provides free-to-use tools on their website which allow people to see how many qualifying years they have and check on what they'll get in retirement. Do you have a money dilemma which you'd like a financial expert's opinion on? If you would like to ask one of our finance experts a question, please email your query to personal.finance@reachplc.com.