The start of the 2024-25 tax year is almost here. It is important to understand any changes to UK tax rates and allowances because this allows you to make the most of the opportunities available to you. This applies to your business, and for you personally.
Important Changes for UK Tax Rates and Allowances include:
- National Insurance for Employees: NIC reducing from 10% to 8%
- National Insurance for Self Employed: reducing from 8% to 6% from 6 April ’24
- VAT Threshold upped from £85k to £90k turnover
- Stamp Duty Land Tax – multiple dwellings relief to be abolished from 1 June 2024
- Capital Gains Tax: Annual Exempt Amount for CGT reducing to £3k from 6 April ’24
Our tax card is a double sided three way folded card intended for use as a quick point of reference. If you would like a card posted out to you, click here.
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 errors or omission or for any person acting on or refraining from acting on the information provided in the above
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
