Some ‘Highlights” below;
- Standard tax allowance for 25-36 tax year is £12,570
- Income Tax 20% up to £37,700 taxable after allowing for personal allowance
- 40% from £37,701 to £125,140 and then 45% above that
- National Insurance for Employees – Nil up to £12,570 and then 8% above that up to £50,270
- National Insurance for Employers – Nil up to £9,100 then 13.8%
- Employment Allowance is £5,000 but you are not eligible if you only have 1 employee paid above £9,100/annum and that employee is a Director
- Dividends tax free allowance is now only £500/annum with 8.75% tax on dividends above that for a basic rate taxpayer and 33.75% for a higher rate tax payer
- Capital Gains Tax – Allowance is now only £3,000/annum with an 18% tax rate for a basic rate taxpayer and 24% for a higher rate for all gains after 5/4/25.
If you are in doubt and want to talk to someone, please give either of us a call
Call –Tim: 07875 410466
Call – Nic: 07985 645087
Well, there’s a few of these and you’re welcome to view them all on this link
