Blog & Guides
UK Tax News & Guides
Expert analysis of UK tax changes, budget announcements and take-home pay calculations — from our team of tax writers and financial journalists.
The 60% Tax Trap: How Earning Between £100k and £125,140 Costs You More Than You Think
Between £100,000 and £125,140 your effective marginal tax rate hits 60% because of the Personal Allowance taper. We explain the maths, show worked examples, and cover practical ways to reduce the impact.
Self-Employed Tax Guide 2025-26: Income Tax, National Insurance, Payments on Account
Complete guide to self-employed tax in the UK for 2025-26. Covers Class 2 NI (£3.50/week), Class 4 NI (6%), Income Tax bands, allowable expenses, Payments on Account, and Self Assessment deadlines.
Scotland Income Tax 2025-26: All 6 Bands, S Prefix Codes, and England Comparisons
Scotland has its own Income Tax rates with six bands from 19% to 48%. This guide covers every 2025-26 band, how S prefix tax codes work, and compares take-home pay with England at key salary levels.
How Company Car Tax Works in the UK: BIK Rates, EV Savings, and Salary Sacrifice
Company car tax is based on the P11D value and a BIK percentage that depends on CO2 emissions. Electric vehicles attract just 3% BIK in 2025-26. This guide covers how it works, with salary examples.
CIS Subcontractor Tax Guide: 20% Deductions, Year-End Refunds, and Self Assessment
CIS subcontractors have 20% (or 30% if unregistered) deducted from payments by contractors. This guide explains how CIS works, how to claim refunds, and your Self Assessment obligations for 2025-26.
UK Dividend Tax Guide 2025-26: Rates, £500 Allowance, and Director Strategies
Dividend income above £500 is taxed at 8.75% (basic), 33.75% (higher), or 39.35% (additional) in 2025-26. This guide covers the allowance, how dividends interact with salary, and optimal director pay strategies.
Pension Tax Relief Explained: Annual Allowance, Taper, Carry Forward, and Salary Sacrifice
Pension contributions get tax relief at your marginal rate. The annual allowance is £60,000 for 2025-26, with a taper for high earners. This guide covers how relief works, carry forward rules, and salary sacrifice.
Inheritance Tax Planning Guide: NRB, RNRB, the 7-Year Rule, and Taper Relief
Inheritance Tax applies at 40% on estates above £325,000 (or £500,000 with the residence nil-rate band). This guide covers allowances, the 7-year rule for gifts, taper relief, and practical planning strategies.
National Insurance Complete Guide 2025-26: Class 1, 2, 3, 4 Rates and Thresholds
Complete breakdown of UK National Insurance for 2025-26. Employee NI at 8%, employer NI at 15%, Class 2 at £3.50/week, Class 4 at 6%. Every threshold, rate, and calculation explained with worked examples.
UK Tax Brackets 2025-26: Every Income Tax Band for England, Scotland, and Wales
Complete reference for UK Income Tax brackets 2025-26. England uses three bands (20%, 40%, 45%), Scotland uses six (19% to 48%). Includes NI rates, worked examples at key salary levels, and the impact of frozen thresholds.
CBR Tax Code Explained: What It Means for Your Pay
CBR is the Welsh equivalent of the BR tax code — all income taxed at 20% with no Personal Allowance. Here is exactly what CBR means, who gets it, and how to fix it.
C1257L Tax Code: The Complete 2025-26 Guide
C1257L is the standard tax code for Welsh residents in 2025-26. The C prefix means Cymru (Wales). Here is what it means, how it works, and what take-home pay looks like.
SD1 Tax Code: Scottish Basic Rate on Second Income
SD1 taxes all income at Scotland's 20% basic rate with no Personal Allowance. Find out who gets SD1, why, and how it differs from SBR and SD0 for Scottish taxpayers.
SD0 Tax Code: Scottish Starter Rate — When Does It Apply?
SD0 taxes all income at Scotland's 19% starter rate with no Personal Allowance. Here is when HMRC uses SD0, how it differs from SBR and SD1, and what your take-home looks like.
SBR Tax Code: What It Means and How to Fix It
SBR taxes all income at Scotland's 20% basic rate with no Personal Allowance. Find out exactly what SBR means, why you have it, and what to do if it is wrong.
Tax Code N Explained: Marriage Allowance Transfer
Tax code N means you have transferred part of your Personal Allowance to your partner via Marriage Allowance. Here is exactly what N means and how it affects your pay.
BR vs SBR Tax Code: Key Differences Explained
BR and SBR both tax all income at 20% with no Personal Allowance, but apply to different taxpayers. Here is when each code applies and exactly how they compare.
Emergency Tax Code: What It Is and How to Fix It Fast
Stuck on emergency tax 1257L W1 or 1257L M1? You could be overpaying hundreds of pounds. Here is exactly what emergency tax codes mean and how to get a refund fast.
K Tax Code Explained: Negative Allowances and What They Mean
A K tax code means your deductions exceed your Personal Allowance, adding income to your taxable pay rather than reducing it. Here is how K codes work and when you might get one.
NT Tax Code: No Tax Deducted — What It Means and When It Applies
NT tax code means your employer deducts zero income tax. It does not mean you owe no tax. Here is who gets NT, when it is legitimate, and the risks if applied incorrectly.
Cheshire East Council Tax Bands 2025-26: Full Guide
Cheshire East council tax charges for 2025-26: Band A £1,487 to Band H £4,462. See full band breakdown, how to challenge your band, and discount eligibility.
Council Tax Reduction: Complete Guide to Claiming
Council Tax Reduction (CTR) can cut your bill by up to 100% if you are on a low income. Here is how to claim, who qualifies, and what to do if you are refused.
Single Person Council Tax Discount: How to Claim 25% Off
Living alone? You are entitled to a 25% single person discount on your council tax. Here is how to claim, what counts as a sole occupant, and who is disregarded.
£30,000 After Tax 2025-26: Your Exact Take-Home Pay
£30,000 salary after tax = £24,944/year (£2,079/month) in England 2025-26. Full income tax and NI breakdown, monthly vs weekly pay, and Scotland comparison.
£50,000 After Tax 2025-26: Full Income Tax Breakdown
£50,000 salary after tax = £39,520/year (£3,293/month) in England 2025-26. See the full Basic Rate tax breakdown, NI, Scotland comparison and pension impact.
NHS Agenda for Change Pay Bands 2025-26: Full Breakdown
NHS AfC pay bands 2025-26 range from Band 1 (£23,615) to Band 9 (£113,557). See every pay point, take-home pay after tax, and the impact of the latest NHS pay award.
Self-Employed Tax: What to Pay, When to Pay, and How to Reduce It
Self-employed? You pay Income Tax plus Class 4 NI (6% on £12,570–£50,270). Here is exactly what to pay, when Self Assessment deadlines fall, and how to reduce your bill.
Second Job Tax: How It Works and How Much You Keep
Second job income is taxed at 20% (BR code) with no Personal Allowance. On £10,000 from a second job, you keep £7,406 after tax and NI. Here is the full breakdown.
Bonus Tax 2025-26: How Much of Your Bonus Will You Keep?
A £5,000 bonus at £40,000 salary = ~£3,106 after tax. See exactly how much bonus tax you pay at every salary level and how to reduce it with pension contributions.
Scotland vs England Income Tax 2025-26: Full Comparison
Scottish taxpayers pay up to £1,500 more tax per year than those in England at £50,000. See the full Scotland vs England income tax comparison at every salary level.
Redundancy Pay Tax UK 2025-26: Is Redundancy Taxable? The £30,000 Rule
The first £30,000 of genuine redundancy pay is tax-free in 2025-26. Payment in lieu of notice is fully taxable. Full breakdown with examples and PENP calculation.
National Minimum Wage April 2025: New Rates and What Changed
From April 2025, the National Living Wage rose to £12.21/hr for workers aged 21+. See all new rates, annual equivalents, and how enforcement works.
What Is the Personal Allowance? UK 2025-26 Explained
The Personal Allowance is £12,570 in 2025-26, frozen until 2028. It's the income you earn before paying tax. How it works, how it's reduced, and how to maximise it.
HMRC Simple Assessment 2025: What It Is and How to Pay
HMRC Simple Assessment is a tax bill calculated for you — not a Self Assessment return. You have 60 days to pay or dispute it. Here's what to do when you receive one.
Splitting Income With Your Partner to Save Tax (UK 2025-26)
There is no automatic income splitting in the UK, but Marriage Allowance, joint asset ownership, and dividend sharing can all reduce a couple's tax bill legally.
Working From Home Tax Relief UK 2025-26: HMRC Flat Rate and Actual Cost Method
Claim £6/week (£312/year) WFH tax relief if your employer requires home working in 2025-26. The COVID mass claims are closed — here's who still qualifies and how to claim.
How Much National Insurance Do I Pay? 2025-26 Rates and Examples
Employees pay 8% NI on earnings between £12,570 and £50,270 in 2025-26. On £30,000 that's £1,394/year. Full breakdown for employees, employers, and self-employed.
Tax Code 1257L Explained: What It Means and Why You Have It
1257L is the most common UK tax code in 2025-26, representing the £12,570 Personal Allowance. Learn what each part means and what to do if yours is wrong.
Dividend Allowance 2025-26: How to Minimise Tax on Company Dividends
The dividend allowance is £500 for 2025-26. Dividend tax rates are 8.75%, 33.75%, and 39.35%. This guide shows directors and investors how to plan dividends tax-efficiently.
Pension vs ISA for Retirement 2025-26: Which Gives You More Money?
Pension contributions get immediate tax relief (20-45%), but ISAs are flexible and tax-free on withdrawal. This guide compares pension vs ISA for UK taxpayers in 2025-26 with worked examples.
Pension Contributions and Tax Relief: Worked Examples for 20%, 40%, and 45% Taxpayers
Pension tax relief is worth 20%, 40%, or 45% depending on your rate. This guide gives worked examples for every taxpayer type, explains carry forward, and covers employer matching.
Tax on Commission and Variable Pay in the UK: How PAYE Handles Irregular Income
Commission, bonuses, and variable pay are fully taxable. This guide explains how PAYE taxes irregular income, the cumulative basis, and how to avoid emergency tax on commission payments.
Starting Your First Job in the UK: A Complete Tax Guide for 2025-26
Starting your first job means PAYE, a tax code, National Insurance, and potentially a P45 or P60. This guide explains everything a first-time worker needs to know about UK tax in 2025-26.
Non-Dom Tax Changes April 2025: What the Abolition Means for Overseas Income
The non-domicile regime was abolished from 6 April 2025. A new Foreign Income and Gains (FIG) regime applies for up to 4 years. Here is what changed and who is affected.
Self Assessment Penalties in the UK: What Happens If You File or Pay Late
Miss the Self Assessment deadline and you face a £100 fine immediately. After 3 months, £10 per day kicks in. This guide covers all the late filing and late payment penalties.
National Minimum Wage April 2025 Increase: New Rates and What They Mean for Take-Home Pay
The National Living Wage rose to £12.21 per hour from April 2025. Here are all the new NMW rates, who they apply to, and what workers will take home after tax and NI.
Underpaid Tax: How HMRC Collects What You Owe Through PAYE and Other Methods
If you have underpaid income tax, HMRC can collect it through a coding adjustment, a Simple Assessment, or a formal demand. This guide explains each method and what to do.
HMRC Time to Pay: How to Set Up a Payment Plan for Your Tax Bill
If you cannot pay your tax bill in full, HMRC's Time to Pay arrangement lets you spread payments. This guide explains how to apply, what interest you pay, and what HMRC will and won't accept.
HMRC Simple Assessment Explained: What It Is and What to Do When You Receive One
HMRC Simple Assessment replaces Self Assessment for some taxpayers. Learn what it is, who receives it, and how to check, pay, or dispute the amount.
Salary Sacrifice in 2025-26: Every Benefit You Can Claim Tax-Free
Salary sacrifice lets you exchange part of your salary for a non-cash benefit, saving income tax and National Insurance. This guide covers pension, EV cars, cycle to work, childcare vouchers and more.
P11D and Benefits in Kind: What They Are and How Tax Is Collected
A P11D reports benefits in kind like company cars, private medical insurance, and interest-free loans. This guide explains how P11Ds work and how HMRC taxes these perks.
Tax on Foreign Income in the UK 2025-26: Earnings, Investments and Rental Income
UK tax residents must report most foreign income on Self Assessment. This guide covers foreign employment income, overseas dividends, rental income abroad, double taxation treaties and the remittance basis.
What Is a Good Salary in the UK in 2025? Benchmarks, Averages, and Regional Differences
The UK median salary is £34,963. But what counts as "good" depends on where you live. This guide covers salary percentiles, regional comparisons, and what different incomes mean in 2025.
Does Overtime Count as Taxable Income in the UK?
Yes, overtime pay is fully taxable as income in the UK. This guide explains how PAYE handles overtime, why you might be emergency taxed on a first overtime payment, and how to get a refund.
Crypto Tax in the UK 2025-26: What HMRC Says About Bitcoin and Digital Assets
HMRC treats crypto assets as a capital asset. Gains above £3,000 are taxable under CGT. This guide covers pooling, DeFi, staking, airdrops, and how to report crypto on Self Assessment.
Is £60,000 a Good Salary in the UK in 2025?
£60,000 in England gives you around £42,497 take-home in 2025-26. You pay higher rate tax on part of your income. This guide covers take-home, rankings, and tax tips.
Is £50,000 a Good Salary in the UK in 2025?
£50,000 puts you at the higher rate threshold in 2025-26. After tax and NI your take-home is £37,013. We explain what this salary means, who earns it, and the tax traps to watch.
Child Benefit Tax Charge 2025-26: The £60,000 Threshold Explained
The High Income Child Benefit Tax Charge applies when one parent earns over £60,000. For 2025-26, the taper runs £60,000–£80,000. Here is how it works, who pays, and how to avoid it.
Is £40,000 a Good Salary in the UK in 2025?
A £40,000 salary gives you £31,067 take-home pay after tax and NI in 2025-26. We explain what that means relative to the UK average and regional living costs.
Council Tax Bands Explained: How Your Bill is Calculated (2025-26)
Council tax is based on a property valuation made in 1991. This guide explains how bands A–H are set, why your bill varies by council, discounts available, and how to challenge your band.
Gifts and Inheritance Tax Planning: The 7-Year Rule and Annual Exemptions Explained
Gifting is one of the most effective ways to reduce an Inheritance Tax bill. This guide covers the annual £3,000 exemption, Potentially Exempt Transfers, and the 7-year rule.
Tax on Savings Interest 2025-26: Personal Savings Allowance, ISAs, and HMRC Collection
Basic rate taxpayers get a £1,000 Personal Savings Allowance in 2025-26; higher rate taxpayers get £500; additional rate taxpayers get nothing. Here is how savings tax works.
Scottish Income Tax 2025-26: How Much More Do Scottish Taxpayers Pay at £43k–£75k?
Scotland has higher income tax rates than England at certain income levels. This guide shows the actual extra tax paid at £43k, £50k, £60k, and £75k in a clear comparison table.
ISA Allowance 2025-26: Types, Limits and the Best ISA for Your Money
The ISA allowance is £20,000 for 2025-26. This guide covers Cash ISA, Stocks and Shares ISA, Lifetime ISA, JISA (£9,000) and ISA flexibility rules.
Tax on Tips and Gratuities in the UK: What Hospitality Workers Need to Know
Tips and gratuities are taxable income in the UK. This guide explains how tips are taxed, how tronc systems work, and what hospitality workers must report to HMRC.
Dividend Income Tax Planning in 2025-26: Rates, the £500 Allowance, and Director Strategy
Dividends above £500 are taxed at 8.75%, 33.75%, or 39.35% in 2025-26. This guide covers how dividend tax works, the director salary-dividend mix, and using ISAs to shelter income.
How Does PAYE Tax Work? A Complete Guide to Pay As You Earn in the UK
PAYE (Pay As You Earn) is how most UK employees pay income tax and National Insurance. This guide explains how PAYE works, what tax codes mean, and how to spot errors.
Making Tax Digital for Income Tax: What Sole Traders Need to Know in 2025-26
HMRC is mandating digital tax records for self-employed and landlords from April 2026. This guide explains what Making Tax Digital for Income Tax means, who it affects, and what software to use.
Capital Gains Tax on Property in 2025-26: Rates, PPR Relief, and the £3,000 Annual Exemption
CGT on residential property is 18% for basic rate taxpayers and 24% for higher rate payers in 2025-26. This guide covers PPR relief, the annual exempt amount, and how to report.
Working From Home Tax Relief 2025-26: How to Claim the £6 Per Week Flat Rate
HMRC allows employees to claim £6 per week tax relief for working from home in 2025-26. Learn who qualifies, how to claim, and what records you need to keep.
How Much Can You Earn Before Paying Tax in 2025-26?
The personal allowance is £12,570 — but that is not the whole story. Depending on your income type, you may benefit from savings allowances, the dividend allowance, the starting rate for savings, or marriage allowance. Here is the full picture.
UK Income Tax History: How Rates Have Changed Since 1799
Income tax was invented in 1799 to fund the Napoleonic Wars. The top rate peaked at 99.25% in WWII. See how UK income tax evolved to today's 45% top rate.
Starting a New Job: Tax and National Insurance in Week One
Starting a new job without a P45 means emergency tax (BR or 1257L W1). You may overpay initially but HMRC corrects it automatically within weeks.
Salary vs Dividends for Company Directors in 2025-26: The Optimal Strategy After the NI Rise
The optimal director pay strategy changed in April 2025 when employer NI rose to 15% on earnings above £5,000. We work through the numbers to find the most tax-efficient combination of salary and dividends for 2025-26.
Capital Gains Tax on Shares in 2025-26: Rates, Allowance & Examples
CGT on shares in 2025-26: 18% (Basic Rate) or 24% (Higher Rate). Annual exemption: £3,000. ISA holdings are CGT-free. Bed and ISA strategy explained.
Universal Credit & Working: The 55p Taper Rate Explained (2025-26)
Universal Credit reduces by 55p for every £1 you earn above the work allowance. See how much UC you keep when working, and whether taking a pay rise pays.
Stamp Duty (SDLT) Calculator 2025-26: How Much Will You Pay?
Stamp duty 2025-26: 0% on first £125,000, 2% up to £250,000, 5% up to £925,000. First-time buyers: 0% on first £300,000. Full tables and examples.
NHS Pension Contribution Rates 2025-26: How Much Do You Pay?
NHS pension contributions range from 5.2% (Band 1-2) to 12.5% (Band 8c+). They reduce take-home but get 20%+ tax relief. Full 2025-26 tier table.
How PAYE Tax Is Calculated: A Step-by-Step Guide for 2025-26
PAYE calculates your tax each pay period based on your tax code and cumulative earnings. On 1257L code: no tax on first £12,570/year, 20% on the next £37,700.
UK Freelancer Tax Guide 2025-26: What You Owe and When to Pay
UK freelancers pay Income Tax + Class 2 + Class 4 NI on profits. Must register for Self Assessment. First payment on account due 31 January 2026.
Company Car Tax (Benefit in Kind) 2025-26: How Much Will You Pay?
Company car tax = P11D value × BIK percentage × your income tax rate. On a £30,000 EV, a Basic Rate taxpayer pays £180/year. Full 2025-26 calculation.
How to Check How Much Tax You Owe HMRC Online (2025-26)
Check your HMRC tax account via gov.uk/personal-tax-account to see tax owed, tax code, employment history, and NI record — all in one place.
IR35 in 2025: A Plain-English Guide for Contractors on Inside vs Outside Status
IR35 reform shifted responsibility for determining status to clients in 2021. Four years on, many contractors still do not fully understand how it works, what HMRC's CEST tool does, or what the financial difference between inside and outside IR35 actually is.
How Rental Income Is Taxed in the UK: A 2025-26 Guide
Rental income above the £1,000 property allowance is taxed at your marginal rate. Basic Rate landlords get 20% mortgage interest relief. Full 2025-26 breakdown.
Pension Auto-Enrolment in the UK: Your 2025-26 Complete Guide
Auto-enrolment requires employers to contribute at least 3% to your pension. Total minimum: 8% (5% employee + 3% employer). See how it affects take-home pay.
Tax on Savings Interest in the UK 2025-26: Personal Savings Allowance
Basic Rate taxpayers get £500 savings interest tax-free (£1,000 for lower earners). Above that, it's taxed at your marginal rate. ISA interest is always tax-free.
Is Overtime Taxed More in the UK? The Truth About Overtime Tax
Overtime isn't taxed at a special rate in the UK — it's taxed at your marginal rate like regular income. But the monthly lump can push you into a higher bracket temporarily.
How Salary Sacrifice Pension Saves You Tax in 2025-26
Salary sacrifice reduces your gross salary, saving income tax AND National Insurance. On £50,000 with 5% sacrifice, you save £415/year in NI alone. Full calculator.
Emergency Tax Code in the UK: What It Means & How to Fix It
Emergency tax code 1257L W1/M1 (or BR/OT) means you're being taxed on a month-by-month basis without accounting for the year's Personal Allowance, leading to overpayment.
P60 vs P45: What Each Form Is, When You Get It & What To Do With It
Your P60 shows your full-year tax summary from your employer. Your P45 comes when you leave a job. Both are crucial for tax claims and proof of income.
Contractor vs Employee: Tax Differences in the UK (2025-26)
Contractors pay corporation tax + salary. Employees pay PAYE automatically. See the full take-home difference for the same gross income as contractor vs employed.
Self Assessment Tax Return Deadlines 2025-26: Register, File & Pay
Self Assessment online deadline: 31 January 2026. Paper: 31 October 2025. Register by 5 October 2025. Penalties start from day 1 after deadline.
Student Loan & Tax: How Repayments Work With PAYE (2025-26)
Student loan repayments come out of your payslip like tax — 9% (Plan 2) on earnings above £27,295. They're NOT voluntary and ARE included in your effective tax rate.
High Income Child Benefit Tax Charge Explained (2025-26)
If you earn over £60,000 and claim Child Benefit, you pay back 1% per £200 above £60,000. From £80,000, you repay 100%. How to calculate and manage it.
When Do You Start Paying 40% Tax in the UK? (2025-26)
You enter the 40% Higher Rate bracket at £50,270 (England/Wales/NI) or £43,663 (Scotland) in 2025-26. Only income ABOVE the threshold is taxed at 40%.
Marriage Allowance 2025-26: How to Claim Up to £1,260 Tax Relief
Marriage Allowance lets you transfer £1,260 of Personal Allowance to a spouse, saving up to £252/year. How to claim and who qualifies in 2025-26.
How to Claim a UK Tax Refund in 2025-26: PAYE & Self Assessment Guide
Overpaid tax? You can claim it back from HMRC. See how to get a PAYE refund online, via phone, or through Self Assessment. Average refund: £300-£500.
How Much Can You Earn Without Paying Tax in the UK? (2025-26)
In 2025-26 you can earn £12,570 tax-free (Personal Allowance). Above this, 20% Basic Rate applies. With Marriage Allowance, up to £13,830. Full guide.
April 2025 Tax Changes: The Complete Guide to What's Different in 2025-26
A comprehensive guide to every change affecting UK taxpayers from 6 April 2025 — employer NI, NLW, State Pension, frozen thresholds, and more. Everything in one place.
Scotland vs England Income Tax 2025-26: How Much More Do Scots Pay?
Scottish taxpayers pay a different income tax above £27,492. At £50,000, Scotland costs £1,528 more/year than England. Full comparison table for all salaries.
UK Tax Year 2025-26: Key Dates, Deadlines & What They Mean
The 2025-26 UK tax year runs 6 April 2025 to 5 April 2026. See all key dates: Self Assessment deadline, payment dates, P60 deadline, and more.
National Living Wage Rises to £12.21 from April 2025 — What You Take Home
From 1 April 2025 the National Living Wage rises to £12.21 per hour — a 6.7% increase. The 18-20 rate jumps to £10.00, the biggest percentage rise for younger workers since the NLW was introduced. We calculate the take-home figures.
Everything Changing in the 2025-26 Tax Year — From Employer NI to the New Living Wage
April 2025 brings the biggest changes to employer-side taxes in years. We preview every change coming on 6 April 2025: the employer NI increase, new NLW rate, State Pension rise, and continued income tax freeze.
Self-Assessment Deadline 31 January 2025: Everything You Need to Know
The deadline to file your 2023-24 tax return online is 31 January 2025. Around 12 million people need to file. Here is what you need, how to pay, and what happens if you miss the deadline.
Year-End Tax Planning: 8 Ways to Cut Your Tax Bill Before 5 April 2025
With the end of the 2024-25 tax year approaching, here are eight evidence-based strategies — from using your ISA allowance to pension top-ups and CGT harvesting — that can legally reduce what you owe to HMRC.
Employer NI Rises to 15% from April 2025: What It Means for Jobs, Wages, and Take-Home Pay
From April 2025, employers pay National Insurance at 15% on earnings above just £5,000 per worker — down from a £9,100 threshold at a 13.8% rate. We explain who bears the cost and how businesses are responding.
Autumn Budget 2024: Every Tax Change That Affects Your Money
Rachel Reeves delivered the Autumn Budget on 30 October 2024 — the first Labour Budget in 14 years. Employer NI rose to 15%, CGT rates on shares increased, and a raft of other changes were announced. Here is a full breakdown.
Self-Assessment Guide for 2023-24: Deadlines, Common Mistakes, and How to Avoid Penalties
The deadline to file your 2023-24 tax return online is 31 January 2025. We explain who needs to file, the most common mistakes that trigger underpayment notices, and the penalties for missing the deadline.
Labour Wins the Election: What the New Government's Tax Plans Mean for Your Money
Labour won a landslide majority on 4 July 2024 with Rachel Reeves as Chancellor. They pledged no rises to income tax, NI, or VAT — but warned of an Autumn Budget to address a £22bn spending gap. Here is what we know.
State Pension Rises 8.5% in 2024: What You Will Receive — and What's Coming in 2025
The new State Pension rose by 8.5% in April 2024 to £221.20 per week — the highest cash increase under the triple lock. We explain the triple lock, who qualifies, and what the April 2025 rise looks like.
Fiscal Drag: How Frozen Tax Thresholds Are Costing Millions of Workers Hundreds of Pounds
The personal allowance has been frozen at £12,570 since April 2021. The higher rate threshold has been frozen at £50,270 until at least 2028. We explain what fiscal drag means, who it hits hardest, and how much it is costing you.
CGT on Residential Property Cut to 24% — But the Annual Exempt Amount Is Now Just £3,000
From 6 April 2024, the higher rate of Capital Gains Tax on residential property fell from 28% to 24%. But the annual exempt amount also fell to £3,000, meaning many sellers will still pay more tax overall. We explain the trade-offs.
Child Benefit Threshold Raised to £60,000: What Changed in April 2024
From 6 April 2024, the High Income Child Benefit Charge threshold rose from £50,000 to £60,000, and the taper rate was halved. Around 170,000 families became newly eligible. Here is what the reform means in practice.
Employee NI Now 8%: The Full Saving from April 2024's Rate Cut
From 6 April 2024, employee National Insurance fell to 8% — down from 12% just four months earlier. We calculate the full annual saving at every salary level, including the effect on self-employed workers whose Class 4 rate also dropped.
National Living Wage Rises to £11.44 from April 2024 — and the Age Limit Falls to 21
The National Living Wage increased from £10.42 to £11.44 on 1 April 2024 — a 9.8% rise. Crucially, the qualifying age dropped from 23 to 21, bringing hundreds of thousands of younger workers into the higher rate for the first time.
Spring Budget 2024 Explained: NI to 8%, CGT Cut, Child Benefit and VAT Changes
Jeremy Hunt delivered the Spring Budget on 6 March 2024. Here is every change that affects your take-home pay — from the further NI cut to 8%, to the raised Child Benefit threshold and higher VAT registration limit.
National Insurance Cut to 10%: What the January 2024 Change Means for Your Pay
From 6 January 2024, the main rate of employee National Insurance dropped from 12% to 10%. We explain who benefits, by how much, and what the cut means for your monthly take-home pay.