Income tax personal allowances
The basic personal allowance for 2025/26 is £12,570. The higher rate threshold including the personal allowance is £50,270.
National Insurance
Monthly primary threshold is £1,048 from 6th April 2025.
National Insurance and the Higher Income Child Benefit Charge (HICBC)
Higher rate tax payers should be aware that failure to claim the HICBC could result in the spouse not obtaining child benefit credits. It may well be beneficial to claim the benefit but to elect not to receive the payments.
Please contact us if you wish to discuss further.
VAT
Threshold for registration is currently £90,000. Deregistration limit is £88,000.
Corporation tax
Main rate (companies with profits over £250,000) is 25% and small profits rate (companies with profits under £50,000) is 19% for 2025/26.
Employment Allowance
A National Insurance allowance of £10,5000 for 2025/26 can be offset against Class 1 secondary NI liabilities.
From 6th April 2025, The £100,000 eligibility threshold for Employment Allowance has been removed.
Annual Investment Allowance
The current annual investment allowance is £1,000,000 per annum.