Deutschland
Sverige
Nederland
| INCOME TAX RATES (INDIVIDUALS UK) | |||
| 2024/25 | 2023/24 | ||
| Starting rate for savings income only (1) | Up to £5,000 | Up to £5,000 | 0% |
| Basic rate | Up to £37,700 | Up to £37,700 | 20% |
| Higher rate | £37,701 – £125,140 | £37,701 – £125,140 | 40% |
| Additional rate | Over £125,140 | Over £125,140 | 45% |
| (1) Available for savings income only. If an individual’s taxable non-savings income exceeds £5,000, the starting rate is not available. | |||
| INCOME TAX RATES (DIVIDENDS) | |||
| 2024/25 | 2023/24 | ||
| Dividend Allowance | £500 | £1,000 | 0% |
| Basic rate | £12,571 – £50,270 | £12,571 – £50,270 | 8.75% |
| Higher Rate | £50,271 – £125,270 | £50,271 – £125,270 | 33.75% |
| Additional Rate | over £125,140 | over £125,140 | 39.35% |
| INCOME TAX ALLOWANCES | |||
| 2024/25 | 2023/24 | ||
| Basic personal allowance | £12,570 | £12,570 | |
| Income limit for personal allowance | £100,000 | £100,000 | |
| Married/civil partners transferable allowance | £1,260 | £1,260 | |
| Married couples: minimum (born before 6 April 1935) | £4,280 | £4,010 | |
| Married couples: maximum (born before 6 April 1935) | £11,080 | £10,375 | |
| Income limit for married couples’ allowance, born before 6 April 1935 | £37,000 | £34,600 | |
| Blind persons allowance | £3,070 | £2,870 | |
| Rent a room relief limit | £7,500 | £7,500 | |
| Savings allowance – basic tax band | £1,000 | £1,000 | |
| Savings allowance – higher tax band | £500 | £500 | |
| Trading income allowance | £1,000 | £1,000 | |
| Property income allowance | £1,000 | £1,000 | |
| PENSION CONTRIBUTIONS | |||
| 2024/25 | 2023/24 | ||
| Annual allowance | £60,000 | £60,000 | |
| AA is tapered when adjusted income including pension contributions exceeds | £260,000 | £260,000 | |
| AND net income excluding pension contributions exceeds | £200,000 | £200,000 | |
| Minimum tapered Annual Allowance | £10,000 | £10,000 | |
| Money purchase annual allowance | £10,000 | £10,000 | |
| Lifetime allowance | abolished | abolished | |
| HIGH INCOME CHILD BENEFIT CHARGE (HICBC) | |||
| 2024/25 | 2023/24 | ||
| HICBC Lower Income Threshold | £60,000 | £50,000 | |
| HICBC Higher Income Threshold | £80,000 | £60,000 | |
| 1% of child benefit for each £200 (2023/24: £100) of adjusted net income exceeding the lower threshold. | |||
| CAPITAL GAINS TAX | |||
| 2024/25 | 2023/24 | ||
| Annual exemption | |||
| Individuals | £3,000 | £6,000 | |
| Trusts | £1,500 | £3,000 | |
| Business Asset Disposal relief lifetime allowance | £1m | £1m | |
| Individuals and trusts | |||
| Basic and starting rate band | 10% | 10% | |
| Higher and additional rate band | 20% | 20% | |
| Trustees and personal representatives | 20% | 20% | |
| Rate where entrepreneurs’/investors’ relief applies | 10% | 10% | |
| Residential Property | |||
| Basic and starting rate taxpayers | 18% | 18% | |
| Higher rate tax bands and Trustees and PRs | 24% | 28% | |
| Carried interest | |||
| Basic and starting rate taxpayers | 18% | 18% | |
| Higher rate tax bands and Trustees and PRs | 28% | 28% | |
| NIC RATES AND THRESHOLDS | |||
| NIC: Class 1 primary monthly thresholds | |||
| Employee (Primary) | 2024/25 | 2023/24 | |
| Lower Earnings Limit | £533 | £533 | |
| Primary Threshold (PT) | £1,048 | £1,048 | |
| Upper Earnings Threshold (UEL) | £4,189 | £4,189 | |
| NIC: Class 1 primary rates | |||
| Employee (Primary) | 2024/25 | 2023/24 from 6 Jan 2024 | 2023/24 to 6 Jan 2024 |
| Up to LEL | N/A | N/A | N/A |
| From LEL to PT | 0% | 0% | 0% |
| From PT to UEL | 8% | 10% | 12% |
| From PT to UEL (Directors Annual Rate) | 11.5% | ||
| Above UEL | 2% | 2% | 2% |
| NIC: Class 1 secondary monthly thresholds | |||
| Employer (Secondary) | 2024/25 | 2023/24 | |
| Secondary threshold (ST) | £758 | £758 | |
| Upper secondary threshold for under 21s (UST) | £4,189 | £4,189 | |
| Apprentice Upper secondary threshold (AUST) for under 25s | £4,189 | £4,189 | |
| Veteran Upper Secondary Threshold (VUST) | £4,189 | £4,189 | |
| Investment Zone Upper Secondary Threshold (IZUST) | £2,083 | £2,083 | |
| Freeport Upper Secondary Threshold (FUST) | £2,083 | £2,083 | |
| NIC: Class 1 secondary rates | |||
| Employer (Secondary) | 2024/25 | 2023/24 | |
| Up to: ST, FUST, AUST, FUST, IZUST, VUST | 0% | 0% | |
| Above: ST, UST, AUST, FUST, IZUST, VUST | 13.8% | 13.8% | |
| Employment Allowance – annual amount per company / group | £5,000 | £5,000 | |
| Other NIC Rates | |||
| 2024/25 | 2023/24 | ||
| Employers Class 1A on taxable benefits in kind | 13.8% | 13.8% | |
| Employers Class 1B on PAYE settlement agreements | 13.8% | 13.8% | |
| NIC: Class 2 rates and thresholds | |||
| Self Employed and Partners | 2024/25 | 2023/24 | |
| Flat rate per week (1) | £3.45 | £3.45 | |
| Share fishermen per week | £4.10 | £4.10 | |
| Volunteer development workers per week | £6.15 | £6.15 | |
| Small profit threshold (2) | £6,725 | £6,725 | |
| Lower profits threshold (3) | n/a | £12,570 | |
| (1) Self-employed traders with profits below the small profits threshold do not have to pay class 2 NIC, but they are not entitled to a NI credit. They can pay class 2 NIC voluntarily. | |||
| (2) For 2022/23 and 2023/24 self-employed individuals don’t pay class 2 NIC if their annual profits fall between the small profit threshold and the lower profits threshold, but they are given an NI credit for the year. | |||
| (3) From 2024/25 onwards there is no liability to class 2 NIC for self-employed traders with profits above the small profits threshold, but all self-employed traders with profits above the small profits threshold are entitled to an NI credit. | |||
| NIC: Class 4 rates and thresholds | |||
| Self Employed and Partners | 2024/25 | 2023/24 | |
| Main Rate | 6% | 9% | |
| Additional Rate | 2% | 2% | |
| Lower profits limit | £12,570 | £12,570 | |
| Upper profits limit | £50,270 | £50,270 | |
| CORPORATION TAX | |||
| 2024 | 2023 | ||
| Main rate | 25% | 25% | |
| Small profits rate | 19% | 19% | |
| Small profits rate where profits don’t exceed: | £50,000 | £50,000 | |
| Marginal Relief Lower Limit | £50,000 | £50,000 | |
| Marginal Relief Upper Limit | £250,000 | £250,000 | |
| Standard fraction | 3/200 | 3/200 | |
| VAT REGISTRATION AND DEREGISTRATION LIMITS | |||
| From 1 April 2024 | 1 April 2017 – 31 March 2024 | ||
| Registration turnover | £90,000 | £85,000 | |
| Registration exception: turnover not exceeding | £88,000 | £83,000 | |
| Deregistration turnover | £88,000 | £83,000 | |
| INHERITANCE TAX | |||
| 2024/25 | 2023/24 | ||
| Nil rate band (NRB) £1 – £325,000 | 0% | 0% | |
| Over £325,000 | 40% | 40% | |
| Additional threshold (residence nil rate band) | £175,000 | £175,000 | |
| Main exemptions | Gifts on marriage or civil partnership | ||
| Annual gifts per donor | £3,000 | Parent | £5,000 |
| Small gifts per donee | £250 | Grandparent/remoter ancestor | £2,500 |
| Normal expenditure out of income | Exempt | Other | £1,000 |
The National Minimum Wage is the minimum pay per hour almost all employees are entitled to be paid by law. The rate changes dependant on age and whether the employee is an apprentice. From April 2024 the National Minimum Wage is set to increase significantly as detailed in the table below: –
