There were no new tax increases announced by the Chancellor Rachel Reeves on 26 March in her Spring Statement, however we wanted to remind you that there are some significant tax changes about to come in to effect in April, as a result of her Autumn Budget announced last year.

Here’s a reminder of the changes taking place, as planned, this month:

Employers’ National Insurance Contributions (NICs) – from 6 April 2025

• The percentage rate of Employers’ National Insurance (NI) that’s paid on an employee’s earnings increases to 15% (from 13.8%)
• The threshold that an employee needs to be earning before any Employers’ NI is due, drops to £5,000 a year (from £9,100)

Employment Allowance – from 6 April 2025

• The maximum allowance increases from £5,000 to £10,500
• The removal of the restriction where only employers who have incurred a secondary Class 1 National Insurance contributions liability of less than £100,000 in the tax year prior are able to claim

Capital Gains Tax (CGT) – from 6 April 2025

• The rate of CGT for Business Asset Disposal Relief (BADR) and Investors’ Relief is increasing to 14% (from 10%) for disposals made on or after 6 April 2025

Stamp Duty Land Tax (SDLT) – from 1 April 2025

• The standard nil rate threshold will decrease from £250,000 to £125,000
• The nil rate threshold for first time buyers will decrease from £425,000 to £300,000

If you would like to find out more about these tax changes or for any help with tax advice and planning, please get in touch.