News

Prepare for Changes

26/11/2024

Summary of some of the Budget Changes:
1) No changes to personal allowances or tax bands until at least April 2028.
2) National minimum wage rates to increase for all from April 2025.
For those 21 and over an increase from £11.44 per hour to £12.21 per hour.
3) Increase in Employers national insurance (NIC) rates from April 2025 from 12.8% to 15% and a reduction in the level at which employers start paying NICs for each employee.
4) Increase in Employers Allowance from April 2025 from £5,000 to £10,500pa.
5) Stamp duty land tax rates to increase and thresholds to decrease on main and second properties from April 2025.
6) Changes to Inheritance Tax rules on pensions from April 2027.
7) Changes to Business Property and Agricultural Reliefs from April 2026.
If you would like further information on the above and a free no obligation consultation, please contact Lynne Auton at
Finnies and Stipendia on 01482 861919