Client Area
Newsletter Spring 2025
7th March 2025“Providing a helping hand”
Young people are finding it increasingly difficult to both buy their first home and save. They are increasingly reliant on help from family members.
There are many ways you can support them.
Newsletter Winter 2024-2025
12th December 2024“Providing for the next generation”
We wanted to look at ways to help the next generation; since you may want to share your wealth before you’re gone. It’s achievable as long as you meet the right conditions.
Newsletter Autumn 2024
26th August 2024“It’s never too early to plan for your financial future”
You can reap rewards by getting ahead of the game now and planning for your financial future. What you do now can make a difference to how you live your life later.
Newsletter Summer 2024
27th June 2024“25 years of the ISA!”
It’s been 25 years since the ISA was started. Quite recently many changes have been announced.
Reforms have been announced to simplify the scheme and widen the scope of investments that can be included.
Income Tax Rates and Allowances
| Income Tax allowances | 2024-25 | 2025-26 |
|---|---|---|
| Personal Allowance | £12,570 | £12,570 |
| Personal reduced by £1 for every £2 of net income over | £100,000 | £100,000 |
| Transferable tax allowance for married couples/civil partners | £1,260 | £1,260 |
| Blind Person’s Allowance | £3,070 | £3,130 |
| Married couples/civil partner at 10% – minimum (1) | £4,280 | £4,360 |
| Married couples/civil partner at 10% – maximum (1,2) | £11,080 | £11,270 |
| Rent-a-room tax-free income | £7,500 | £7,500 |
Tax treatment varies according to individual circumstances and is subject to change.
(1) Where at least one spouse/civil partner was born before 6/4/35.
(2) Reduced by £1 for every £2 of income over £30,200 (£29,600 for 2019/20) until the minimum is reached.
Personal Allowances and Tax Bands
| Personal Allowances and Tax Bands | 2024-25 | 2025-26 |
|---|---|---|
| Basic rate of 20% on income over the personal allowance up to: | £37,700 | £37,700 |
| Higher rate of 40% on taxable income over: | £37,700 | £37,700 |
| Additional rate of 45% on taxable income over: | £125,140 | £125,140 |
| Year | Personal Allowance | Higher Rate Tax Band |
|---|---|---|
| 2024-2025 | £12,570 | £37,700 (+£12,570 = £50,270) |
| 2025-2026 | £12,570 | £37,700 (+£12,570 = £50,270) |
Savings & Dividend Taxation
| Savings & Dividend Taxation | 2024-25 | 2025-26 |
|---|---|---|
| Savings rates Starting rate at 0% on savings income up to Reduced by £1 for every £1 of income above Personal Allowance | £5,000 | £5,000 |
| Personal Savings Allowance at 0% tax on interest received Depends on income tax band of other income. | ||
| Basic rate taxpayers | £1,000 | £1,000 |
| Higher rate taxpayers | £500 | £500 |
| Additional rate taxpayers | £0 | £0 |
| Dividend allowance at 0% tax – all individuals Tax rate on dividend income in excess of allowance: | £500 | £500 |
| Tax rate on dividend income: | ||
| Basic rate taxpayers | 8.75% | 8.75% |
| Higher rate taxpayers | 33.75% | 33.75% |
| Additional rate taxpayers | 39.35% | 39.35% |
Rates for Capital Gains Tax
The Capital Gains Tax rate you use depends on the total amount of your taxable income, so work that out first.
Use these rates and allowances for Capital Gains Tax to work out your overall gains above your tax-free allowance (known as the Annual Exempt Amount).
Who is likely to be affected
Individuals, trustees of settlements and the personal representatives of deceased persons who have capital gains.
| Not including Residential property | 6th April to 29th Oct 2024 | From 30th October 2024 |
|---|---|---|
| Tax Rate (tax payers below higher rate) | 10% | 18% |
| Tax Rate (within UK higher and additional tax rate) | 20% | 24% |
| Annual Exemption Amount (Individuals) | £3,000 | £3,000 |
| Annual Exemption Amount (Other Trustees) | £1,500 | £1,500 |
For more information (including residential property) www.gov.uk/guidance/capital-gains-tax-rates-and-allowances
Note: These tables are provided for guidance only.
The Financial Conduct Authority does not regulate taxation advice.
Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.
As at October 2024