Cryptax

Cryptax Chartered Tax Advisors specialising in all aspects of Crypto. Based in North West England but with clients nationwide.

We can assist with Mining, Staking, Trading, Airdrops, NFTs, DeFi and all other crypto transactions

30/10/2024

Update - changes in CGT basic and higher rates take effect from today

30/10/2024

An update from the budget:-

⬆️ Income tax and employee national insurance thresholds to increase in line with inflation from 2028.

📈Employers National Insurance to increase by 1.2% and threshold at which employers start to pay NI to reduce from £9,100 to £5,000 both from April 2025. Employers allowance increasing from £5,000 to £10,500.

🪙 Basic rate CGT increasing from 10% to 18%. Higher rate CGT increasing from 18% to 24%. The chancellor did not say when these changes would take effect. Lifetime limit for BADR remaining at £1,000,000 and BADR increases to be phased in to a maximum of 18% over the next 3 years.

🚜 Inheritance tax thresholds frozen until 2030. Inherited pensions to come into IHT from 2027. The first £1 million of combined agricultural assets and trading businesses will attract no IHT but any amounts above this will fall into IHT with 50% relief.

🌍 Non-dom tax regime being abolished and a residence based scheme to be introduced.

🏠 SDLT surcharge on second homes to increase by 2% to 5% taking effect from tomorrow.

📚VAT on private schools being introduced from January 2025 with their business rates relief being removed from April 2025.

🏦 Interest on unpaid tax to increase.

🚙Incentives for businesses to buy electric vehicles to continue but hybrids to be taxed.

💷National Minimum Wage to rise by 6.7%.

⛽ Fuel duty frozen for another year.

Address

Liverpool

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm
Saturday 9am - 6pm
Sunday 9am - 6pm

Telephone

+441513140250

Website

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