Following the Autumn Budget delivered by the Chancellor last month, it is important to understand any changes to UK tax rates and allowances. This information enables you to make the most of the opportunities available to you. Whether you are a business owner, a sole trader, a landlord or an individual – understanding your thresholds and tax rates is key – takeaway our Post Autumn Budget Tax Rates update: for the 2024-25 tax year
Post Autumn Budget 2024 Tax Card
We have updated our tax cards which are available for download or can be viewed below. We saw the chancellor make changes to Employers NIC, Inheritance Tax, Business Property Relief and Agricultural Property Relief – changes to BPR will affect you if you have invested in AIM shares.
We saw Stamp Duty changes, Business Asset Disposal relief changes and from 6th April 2025, the current non-domicile regime will be abolished. Click here to learn all the changes following the Autumn 2024 budget or click here to listen to our Tax Expert Amy Thompson as she talks us through the changes in our first ever podcast.
Post Autumn Budget Tax Rates update: for the 2024-25 tax year
A Fantastic Resource for Finance Directors, Individuals, Businesses Owners, Tax Specialists and Solicitors
Our tax card is a great resource for individuals, finance directors and business owners to keep up-to-date on latest thresholds and rates.
If you would like a physical tax card mailed out to you, click here – it is double sided three way folded card intended for use as a quick point of reference.
Check list for Year end checklist pre 5 April 2025
- Maximise use of tax rates, tax bands and allowances
- Assess allowances available for all family members
- Review profit extraction strategy in family companies
- Plan for cash flow impact of basis period reform (unincorporated businesses)
- Take advantage of the 2024/25 ISA allowance
- Claim higher rate repayments under Gift Aid
- Review pension plans
- Update wills and estate planning as required
- Contact us ahead of 5 April 2025 for maximum tax efficiency for the new tax year (24/25)
Should you need any more information, we are only a phone call away – 01992 444466
The information contained above is for general guidance purposes only. Whilst every effort has been made to ensure the contents are accurate, please note that each individual has different circumstances and it is essential that you seek appropriate professional advice before you act on any of the information contained herein. HB Accountants can accept no liability for any error
Read Our Latest Blogs Below
- Happy 50th Birthday to Karen Chase, HB Accountants Director
HB Accountants’ Director Karen is turning fifty! It’s inspiring to see her journey from starting at HB straight out of university, to becoming a Director. Find out some lesser-known facts about Karen and her fundraising work outside of HB Accountants… - Download your 2025-26 Tax Card – all the Key UK Tax Rates in One Place
HB Accountants understand how important it is to stay on top of the latest tax rates and allowances. If you are running a business, managing payroll or planning your personal finances, our Tax Card is a great resource. We summarise all the key UK tax rates you need in one convenient place. - HB Accountants Podcast: Episode 3 Year End Tax Planning Tips for Individuals
Following the success of our previous episodes, HB Accountants is excited to announce Episode 3 of our podcast series: Year End Tax Planning Tips for Individuals. This installment is dedicated to helping individuals navigate the complexities of personal tax planning as the fisccal year draws to a close. - HB Accountants Podcast: Episode 2 Smart Tax Planning Tips for BusinessesWelcome back to the HB Accountants Podcast. After the success of our first episode, we are excited to bring you Episode Two, where we tackle a crucial topic for every business owner – tax planning.
- Working From Home tax relief – you can still claim for the Covid-years
During the lockdowns of 2020-2021, a number of people were asked to work from home. The Working From Home Rules on Tax Relief were relaxed to cover additional energy and other household costs encountered by working from home. The rules for working from home tax relief have evolved now that people are back to working … Continue reading - National Minimum Wage – What counts as working time?
A number of workers are not being paid the National Minimum Wage (NMW). Often, this isn’t intentional, it’s because the NMW is more than just a pay rate, it’s a calculation. The main reason why so many companies accidentally underpay their workers is because they do not know about the calculation. Here is the HB … Continue reading
