6 April marks the start of the new tax year and – for the 2nd time in just four months – National Insurance rates are being cut. About half of employees gain more from these rate cuts than they lose from freezes in tax thresholds since 2021 – but there are more freezes to come. Show more Quote Institute for Fiscal Studies · Mar 6 Today’s 2p cut to NICs on top of January’s cut will more than offset threshold freezes by 2024-25 for the roughly half of employees earning between £26k-£60k. Those earning around £50k will see the largest tax cut, over £900 a year. The lowest earners will still see taxes rise.
— Institute for Fiscal Studies (@TheIFS) April 5, 2024
Why does tax year start 6 Apr? On 14 Sep 1752 British Empire adopted the Gregorian calendar, skipping 11 days (previous day was 2 Sep). New Years Day became 1 Jan, previously it was 25 Mar, which stayed as Show more
At midnight tonight, the current tax year will finish and the new 2024-25 tax year will begin. We have 7 actionable steps you can tick off your list for a great start to the new financial year. which.co.uk New tax year checklist: 7 things to do for your money - Which? News
British tax year starts today. Lady Day (25th March) was one of the quarter days on which, historically, contracts start or end. On introducing the Gregorian calendar there was uproar about the 11 'missing' days, hence 5th April became 'Old' Lady Day and is still used today. Show more
Are you ready for the new tax year? @WhichMoney has identified seven actionable steps you can take to make a great start to the new financial year. Quote Which? Money @WhichMoney · 5h At midnight tonight, the current tax year will finish and the new 2024-25 tax year will begin. We have 7 actionable steps you can tick off your list for a great start to the new financial year.
As we enter the start of the new tax year tomorrow for 2024/25, are you thinking of setting up a new business or working for yourself? Here at Paterson Brodie we offer a free no obligation initial meeting to discuss and give advice to you on all matters including registering with Show more
— Paterson Brodie Limited (@BrodieLimited) April 5, 2024
UK Tax Year Start History
UK Tax Year Start was a change of the tax date in the 18th century to ensure no revenue would be lost for the Royal Crown.