To kickstart the new financial year - join host Nik Giri as he breaks down the UK's major tax changes from 2024 and 2025. Whether you're an employee, self-employed, retired, or a first-time homebuyer, this episode helps you understand exactly how your finances are affected - and what you can do about it.

Friendly Reminder: This episode is intended for educational purposes only and does not constitute financial advice. Always consult a qualified financial advisor for personalised guidance.

Note: Not all tax changes discussed in this episode take effect from April 6, 2025. Some changes have been implemented gradually over the past year leading up to this date.

In This Episode:

00:00 - Introduction and Overview of Tax Changes Start here for a quick overview of the key tax updates you need to know this financial year.

00:46 - Income Tax Updates for 2025 Discover what's happening to your personal allowance, income tax thresholds, and why the freeze could mean paying more tax even if rates haven't changed.

02:25 - National Insurance Changes Good news for employees and the self-employed! Learn about significant cuts to National Insurance contributions and how much extra you'll see in your paycheck.

05:54 - Tax-Free Allowances and Marriage Allowance Clarifying tax-free allowances you might be missing out on—including a hidden bonus for married couples and civil partners.

07:09 - Pension Tax Changes Find out about the abolition of the Lifetime Allowance, new caps on tax-free lump sums, and why you might want to increase your pension contributions.

09:50 - Capital Gains Tax Adjustments Important changes to Capital Gains Tax: drastically lower tax-free allowances and higher rates mean you'll need to plan your asset sales carefully.

14:13 - ISA and Savings Interest Rules No cuts to ISA allowances (phew!), but higher interest rates mean more people are paying tax on their savings—learn how to protect your interest earnings.

17:21 - Stamp Duty Land Tax Revisions Critical for homebuyers! Major stamp duty changes are coming from April 1, 2025—miss the deadline and you could pay thousands extra. Essential listening if you're planning to buy property.

26:13 - Other Notable Tax Changes From council tax hikes to new vehicle excise duties for electric cars, and changes in alcohol and tobacco taxes—we've got you covered.

30:09 - Debunking Tax Myths and Misconceptions We bust common myths around higher tax bands, pension contributions, and stamp duty deadlines, ensuring you’re not caught out by misunderstandings.

36:03 - Conclusion and Final Thoughts Wrapping up with actionable insights and reminders to help you confidently navigate your finances in the new tax year.

Useful Resources & Links:

• HMRC Official Tax Rates & Allowances
• National Insurance Contribution Rates
• Pension Allowances Explained
• Capital Gains Tax Rules
• Stamp Duty Land Tax Calculator

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