Useful updates & information
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| For England & Northern Ireland only |
| Tax & NIC Thresholds | 2024/25 | 2025/26 |
| Tax Pers Allow | 12,570 | 12,570 |
| Starting rate for Savings | 5,000 | 5,000 |
| Personal Savings Allowance – Basic Rate | 1,000 | 1,000 |
| Personal Savings Allowance – Higher Rate | 500 | 500 |
| Current Income band 2024/25 | ||
| Up to 12,570 | 0% | 0% |
| 12,571 – 50,270 | 20% | 20% |
| 50,270-125,139 | 40% | 40% |
| 125,140+ | 45% | 45% |
| Dividend allowance | 500 | 500 |
| Basic/standard taxpayer | 8.75% | 8.75% |
| Higher rate taxpayer | 33.75% | 33.75% |
| Additional rate | 39.35% | 39.35% |
| NIC | 2024/25 | 2025/26 | |
| Class 1 | Lower earnings limit | 6,396 | 6,504 |
| Class 1 | Primary threshold | 12,570 | 12,570 |
| Class 1 | Rate (between primary & upper threshold) | 8% | 8% |
| Class 1 | Secondary threshold | 9,100 | 5,000 |
| Class 1 | Freeport upper secondary threshold | 25,000 | 25,000 |
| Class 1 | Upper earnings limit | 50,270 | 50,270 |
| Class 1 | Employers NIC rate | 13.80% | 15.00% |
| Class 2 | Lower income threshold | 6,725 | 6,845 |
| Class 2 | Per annum (Voluntary) | 178.40 | 182.00 |
| Class 3 | Per annum | 907.40 | 923.00 |
| Class 4 | Lower limit | 12,570 | 12,570 |
| Rate | 8% | 6% | |
| Class 1A | 13.80% | 13.80% | |
| Capital Gains | |||
| Annual allowance | 3,000 | 3,000 | |
| Rates on residential property | Basic rate taxpayer | 18% | 18% |
| Rates on residential property | Higher rate taxpayer | 24% | 24% |
| Rates on other gains | Basic rate taxpayer | 18% | 18% |
| Rates on other gains | Higher rate taxpayer | 24% | 24% |
*CGT rates increased from 30 Oct 2024. Previously 10% basic rate & 20% higher rate.
From 6 April 2020, where CGT is due on the disposal of UK residential property by a UK resident individual or trustees, a new standalone online return will need to be filed, together with payment on account of CGT, within 60 days of the date of completion of the transaction. (Finance Act 2019 Schedule 2).
| Corporation tax profits | 2024/25 | 2025/26 |
| £0-£50,000 | 19% | 19% |
| £50,001 – £299,999 (*marginal relief available) | 26.50%* | 26.50%* |
| £300,000 + | 25% | 25% |
| Other Thresholds | ||
| Value added tax | ||
| Registration limit | 90,000 | 90,000 |
| De-registration limit | 88,000 | 88,000 |
| Minimum wage | ||
| From 1 April 2025 | ||
| Age 21+ | 11.44 | 12.21 |
| Age 18-20 | 8.60 | 10.00 |
| Under 18 | 6.40 | 7.55 |
| Apprentice | 6.40 | 7.55 |
| Employment Allowance | 5,000 | 10,500 |
| Statutory Maternity Pay – per week | 184.03 | 187.18 |
| Statutory Sick Pay – per week | 116.75 | 118.75 |
| Marriage Allowance – per annum | 1,260 | 1,260 |
Capital Allowances
Annual Investments Allowance (AIA) limit is £1m from Jan 2022.
| Capital allowances rates – Plant & Machinery | 2024/25 | 2025/26 |
| AIA | 100% | 100% |
| Special pool 1st year | 50% | 50% |
| Main pool18% | 18% | 18% |
| Structure & Buildings | 3% | 3% |
| Capital allowances rates – Cars | ||
| CO2 emissions of g/km | ||
| 0 | 100% | 100% |
| 1-50 | 18% | 50% |
| Over 50 | 6% | 6% |