National Insurance 2024/25 Class 1 (employed) rates Employee
Employer
Earnings per week
% Earnings per week
% Nil
Up to £242
Nil
Up to £175
£242.01 - £967
8 Over £175
13.8
Over £967 2 Entitlement to contribution-based benefits for employees retained for earnings between £123 and £242 per week. The employer rate is 0% for certain military veterans, employees under 21 and apprentices under 25 on earnings up to £967 per week. Class 1A (employers) 13.8% on employee taxable benefits Class 1B (employers) 13.8% on PAYE Settlement Agreements Class 2 (self-employed) nil (£3.45 per week where those with profits below £6,725 wish to make a voluntary contribution) Class 3 (voluntary) flat rate per week £17.45 Class 4 (self-employed) 6% on profits between £12,570 and £50,270 plus 2% on profits over £50,270
Capital Gains Tax Individuals
2024/25
2023/24
Exemption
£3,000
£6,000
Standard rate
10% 20%
10% 20%
Higher/additional rate
Trusts Exemption
£1,500
£3,000
Rate 20% Higher rates (18/24% for 2024/25 and 18/28% for 2023/24) may apply to the 20%
disposal of certain residential property. Business Asset Disposal Relief The first £1m of qualifying gains are charged at 10%.
Individual Savings Accounts
2024/25 £20,000
2023/24 £20,000
Overall investment limit
Junior account investment limit
£9,000
£9,000
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