Selected Rates
2024/25
2023/24
Weekly benefit
£
£
New State Pension Old State Pension
221.20 169.50
203.85
156.20 Statutory pay standard rates - average weekly earnings £123 (£123) or over Sick Pay 116.75 109.40 Maternity/Adoption Pay 184.03 172.48 Shared Parental Pay 184.03 172.48 Paternity Pay 184.03 172.48 National Living Wage and National Minimum Wage Age NLW 18-20 16-17 Apprentices From 1 April 2024 £11.44 £8.60 £6.40 £6.40 Applies to apprentices under 19 or 19 and over in the first year of apprenticeship. NLW applies to those aged 21 and over. Tax Reliefs for Individuals 2024/25 and 2023/24 Enterprise Investment Scheme (EIS) Relief on investments in certain unquoted trading companies up to £1m per annum (£2m for knowledge intensive companies) : • Income tax relief at 30% • Capital gains exemption on disposal Unlimited amounts of capital gains from the disposal of other assets may be able to be deferred by making an EIS investment. Seed Enterprise Investment Scheme (SEIS) Relief on investments in certain unquoted trading companies up to £200,000 per annum: • Income tax relief at 50% • Capital gains exemption on disposal Capital gains from the disposal of other assets may be exempt up to £100,000 per annum by making an SEIS investment. Venture Capital Trusts (VCTs) Relief on investments in certain quoted companies up to £200,000 per annum: • Income tax relief at 30% • Capital gains exemption on disposal Dividends received from VCTs may be exempt from income tax.
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