Monthly E-Tax - Budget in Depth

A comprehensive summary of the UK Budget 2025, outlining significant tax legislation changes and reforms scheduled to take effect primarily throughout the 2026/2027 tax year and subsequent years. To raise revenue, the budget implements measures that will broaden the tax base, notably by freezing National Insurance and income tax thresholds for an extra three years until 2030/31. Major income streams face higher rates, with scheduled increases affecting dividend income, savings income, and property income starting in 2026 and 2027. Other key changes include the introduction of a new council tax surcharge for properties valued over £2 million, new mileage-based excise duties on electric and hybrid cars, and the capping of previously unlimited Inheritance Tax reliefs for agricultural and business property. Finally, the update details expanded eligibility for certain corporate incentive schemes and the mandatory rollout of Making Tax Digital (MTD for IT) for specific sole traders and landlords.Simply Accounts & TaxE: [email protected]: www.simplyaccountsandtax.comYouTube