Tax year 2024-25 changes?



1014. Tax year 2024-25 changes?


HMRC's new tax year starts only on 6th April of every year. However the option to start the new tax year in our service is available after 31st March. Our system will be automatically updated and fully compliant with the legislative changes from the start of the new tax year.
When moving to new tax year 2024-25, please take a note of the following changes below :- 1) PAYE tax and Class National Insurance contributions 2) Tax thresholds, rates and codes 3) Class 1 National Insurance thresholds 4) Class 1 National Insurance rates 5) Class 1A National Insurance: expenses and benefits 6) Class 1A National Insurance: termination awards and sporting testimonial payments 7) Class 1B National Insurance: PAYE Settlement Agreements (PSAs) 8) National Minimum Wage 9) Statutory Maternity, Paternity, Adoption, Shared Parental and Parental Bereavement Pay 10) Statutory Sick Pay (SSP) 11) Student loan and postgraduate loan recovery 12) Company cars: advisory fuel rates 13) Employee vehicles: mileage allowance payments 14) Employment Allowance 15) Apprenticeship Levy Note: For more information please click on the link below: https://www.gov.uk/guidance/rates-and-thresholds-for-employers-2024-to-2025