UK tax changes impact pensioners, workers, and home buyers

mirror.co.uk

The UK tax year will begin on April 6, 2025, bringing significant changes. Key updates include an increase in employer National Insurance rates from 13.8% to 15% and a reduction in the earnings threshold for payments from £9,100 to £5,000. State pensioners will benefit from a rise in payments, with the basic state pension increasing from £169.50 to £176.45 per week. However, personal tax thresholds remain frozen, potentially leading to higher taxes for those with additional income. Home buyers will face new stamp duty thresholds starting April 1, with first-time buyers' limits dropping from £425,000 to £300,000. Additionally, the UK will eliminate non-dom status, affecting tax on overseas earnings for long-term residents.


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