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
- Your Career Path and Your Future: Meet HB Accountants at Generation Stortford
At HB Accountants, we’re committed to helping young people explore their career options. That’s why we’re thrilled to be part of Hertfordshire Futures: Generation Stortford, a local careers fair designed to connect students with employers and showcase opportunities for life after school. Whether you’re curious about accounting, finance, or other fields, we’re here to guide … Continue reading - 5 cost reduction strategies that do not sacrifice growth
It’s a delicate balancing act to keep expenses down whilst still investing in growth and innovation. It is tough but it is possible to reduce costs without impacting growth by identifying and eliminating wasteful spending and ultimately build a lean, efficient business that can weather economic storms and be poised to seize new opportunities. Here … Continue reading - How our sponsorship of accountancy students will change lives
You really need to read this story about a girl without shoes or money who worked hard at school and now has the opportunity to change her life chances forever. Gertrude lives in Livingstone in Zambia Southern Province. She is 21 years old. She grew up in a family of six and is the second … Continue reading - HB Accountants’ First Podcast: Episode 1 Autumn 2024 Budget Playbook
At HB Accountants, we understand how challenging it can be to keep up with the ever-changing financial landscape. Are you looking to make the most of the recent budget changes for your finances or business? We have exciting news. Join us for our first podcast, where two seasoned experts will break down everything you need … Continue reading - Vehicle Excise Duty on Electric Cars from 1 April, 2025
If you drive an electric vehicle, you need to be aware of these changes to road tax. Currently, electric vehicles (EVs) are exempt from Vehicle Excise Duty (VED) also known as road tax. However, from 1 April 2025, drivers of electric and low emission cars, vans and motorcycles in the UK will need to pay … Continue reading - Post Autumn Budget Tax Rates update: 2024-25 tax year
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 … Continue reading
