Spring Newsletter 2025
Despite the uncertain economic environment at the moment, Rachel Reeves has promised to hold only one ‘fiscal event’ each year, so we are not expecting any further tax announcements until the Autumn Budget. However, many tax changes are now scheduled for April and others for a year later, so you can’t take your eyes off the tax ball without it potentially costing you dearly. In this newsletter, we look at the impact of some of these changes as well as keeping you up to date with other developments.
We begin with the tax changes announced concerning double-cab pickup vehicles, which will be very significant for those who use them in their business. On page 3, we discuss the impact of the big increase in employers’ National Insurance Contributions (NICs) that takes effect in April along with a 6.7% increase
in the National Living Wage. Both these will increase the costs of employing someone, often very significantly, although we remind you of the reliefs that are available to mitigate employers’ NICs too
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