Wondering what the tax rates are for 2025/26? Download our tax tables to see all the main tax rates thresholds and allowances for areas such as income tax, NI, capital gains tax, IHT, corporation tax and more.

The first Budget from a Labour government since March 2010, and the first ever from a female Chancellor, proved to be the defining event that had been widely anticipated. From the moment in late July when Rachel Reeves unveiled her “£22 billion black hole” and announced means-testing for the winter fuel payment, it was clear her Budget premiere would be a challenging one for both the government and the governed.

The earlier you plan for your exit the better, and the more money you could exit with. Find out why in our guide.

This guide explains how restructuring your business can help you to achieve your exit goals, even if you’re not planning to do so for several years.

Once you’ve chosen your desired business exit the next stage is to prepare for it! This guide for business owners, runs through the things you need to consider and the steps you need to put in place, ahead of saying goodbye.

This guide gives a comprehensive overview of all of your business exit options, so you can build the right exit strategy, securing the best outcome for you and your business.

In what was widely expected to be Mr Hunt’s final Budget ahead of an election, speculation in the final run up focused on the trade-offs that might be required around cutting taxes and meeting both fiscal rules and spending commitments. Ultimately the Chancellor had it both ways, with some headline grabbing measures aimed at easing the tax burden on earners and families, while also introducing some tax increases to cover their costs.

Welcome to the Barnes Roffe 2024 Spring Budget Tax Tables.

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.

This guide covers company valuation, and how to increase business value. It’s been designed to help you to focus on key areas that build intrinsic value, improve your day-to-day operations, minimise risk, and maximise value.

This guide covers the importance and benefits of a comprehensive exit strategy. Planning for exit encourages you to set long-term goals and plans, providing further stability for long-term growth.

As we near the end of the 2023/24 tax year in April, our year-end tax planning guide provides valuable information that may positively impact your tax bill.

Take a look at the guide today to ensure you’ve considered all areas of personal tax and utilised all your tax reliefs and allowances before the end of the tax year.

We can advise on how to navigate the complexities of tax, create a tax planning strategy and utilise tax reliefs and allowances to save you money.

Jeremy Hunt’s second Autumn Statement was set against a much less financially turbulent background than his first. However, politics still loomed large with a likely election in the next 12 months prompting calls for tax cuts from within the Conservative party.

Over time businesses grow, develop and change so it can be a good idea to reorganise or rationalise the business structure. This process has a whole host of benefits across the business lifecycle, such as minimising risk, cost savings and the simplification of processes.

There is a wealth of opportunities for companies that plan to do business internationally. This guide aims to help you to grow your business through international markets. It covers points to consider before expanding abroad, support available and tips and advice when considering foreign markets.

After years of hard work and building your business, handing over the reins and leaving your business can be daunting. Whether you’re selling your business, passing it onto family or considering an IPO, our guide on planning your exit will help you tackle this critical stage in your business lifecycle.

While the majority of the 2023/24 tax rates were released in the autumn, some changes involved unwinding the announcements of Mr Hunt’s predecessor. With inflation and cost of living concerns foremost for the majority of individual and business taxpayers, the Chancellor needed to balance longer-term economic imperatives with perhaps shorter-term political concerns.

The first Budget since October 2021 was widely expected to be an uneventful affair. Five months ago, the then new Chancellor, Jeremy Hunt, presented an Autumn Statement that was more of a Budget than many formal Budgets. Not only did his Autumn Statement result in a greater increase in the tax burden than most Budgets – £55 billion by 2027/28 – it was also accompanied by a Finance Bill.

The main goal of many business owners is to build a business which they will eventually sell or pass on to family members. Therefore, building and increasing business value is an important consideration as you run your business and when you’re making major business decisions.

The Spring Budget in March 2023 relaxed the limits on contributing to pension savings for individuals and their employers and removed the lifetime limit on the value of tax-efficient pension pots. The bad news is that the threshold for 45% tax was lowered to £125,140 from April 2023, and for taxpayers in Scotland the highest rate of tax above that threshold was raised to 47%.

Although the main rate of employee national insurance contributions (NICs) has been reduced by 2% to 10% from 6 January 2024, fringe benefits still have a definite tax advantage when compared to conventional salary. Even if there is not much, if anything, in the way of income tax saving, directors and employees can avoid NICs. Certain tax-advantaged fringe benefits will also mean no, or little, NICs for the employer, with these types of benefit particularly suited to a salary sacrifice arrangement. There has been no corresponding reduction to the rate of employer NICs.

With intense pressure on government finances, the overall tax burden in the UK is likely to remain at an historically high level for the foreseeable future, with higher earners continuing to shoulder most of the burden. Higher and additional rate taxpayers currently pay over two thirds of all income tax.

Anyone contemplating starting a new business, especially a bricks and mortar one, needs to factor in current economic conditions. The UK might just avoid recession in 2024, and inflation has now fallen to 3.9% (November 2023). However, consumer spending is being curtailed due to higher costs of living, and unemployment is expected to increase during 2024. Many self-employed businesses, in particular, are struggling to cope with higher costs, and their take home pay is not rising in line with inflation.

Companies can qualify for, a 100% first-year allowance, which effectively means full expensing for qualifying capital expenditure. There is also a 50% first-year allowance for special rate pool expenditure. Both of these allowances were set to expire on 31 March 2026, but have now been made permanent.

The property outlook for 2024 is somewhat better than it was a year ago. Rents remain high, mortgage costs look like they will come down following the reduction in the rate of inflation to 3.9% (November 2023), and the recent extension of the mortgage guarantee scheme for a further 18 months to June 2025 will help support property prices at the lower end of the market. Although further regulation – in the form of the Renters Reform Bill – is on the cards, the government has backtracked over the introduction of energy performance targets for landlords.