Tax Rates 2024 | 2025

Your updated 2024/25 tax tables and digital booklets.

While the majority of the 2024/25 tax rates were released in the autumn, the Chancellor kept some surprises for Budget day. With detailed speculation in the last few days ahead of the Budget on whether income tax or national insurance would take the tax-cutting limelight, there were announcements across a range of key areas.

Key tax changes

  • Most main tax allowances and reliefs remain frozen at their 2023/24 levels.
  • For Scottish taxpayers, there is a new advanced rate at 45% while the top rate increases by 1% to 48%.
  • The high-income child benefit charge threshold will increase to £60,000 and will not be fully withdrawn until an individual’s income reaches £80,000.
  • Following the abolition of the pension lifetime allowance, there are two new allowances – the lump sum and death benefit allowance pegged at £1,073,100 and the lump sum allowance at £268,275.
  • The dividend allowance for 2024/25 has been cut from £1,000 to £500.
  • The capital gains tax-exempt amount is reduced from £6,000 to £3,000 for 2024/25. The higher rate of capital gains tax (CGT) for residential property disposals, will be cut from 28% to 24% from 6 April 2024
  • The VAT registration level will go up to £90,000 from 1 April 2024, while the de-registration level will rise to £88,000.

Free digital booklet

You can access our complimentary digital tax tables and booklet by simply clicking on the image provided here.

If you have any questions about how the new tax rates from 6th April 2024 will affect you, as well as measures from the Spring Budget, please get in touch with our tax team.

Tax Rates 2024 | 2025