Weekly tax highlights ― 7 April 2025

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

Direct taxes

National Insurance Contributions (Secondary Class 1 Contributions) Act 2025 receives Royal Assent

National Insurance Contributions (Secondary Class 1 Contributions) Act 2025 received Royal Assent on 3 April 2025.

The Act, which received Royal Assent on 3 April 2025:

•
increases the secondary Class 1 NIC rate from 13.8% to 15%. This will lead to a commensurate increase in the rates of Class 1A and 1B NIC
•
decreases the NIC secondary threshold from £9,100 to £5,000
•
increases the maximum Employment Allowance from £5,000 to £10,500
•
removes the restriction that currently applies to the Employment Allowance where employers who have incurred a secondary Class 1 NIC liability of more than £100,000 in the tax year immediately prior to the year of the claim are unable to claim

The changes take effect from 6 April 2025.

See Simon’s Taxes E8.261; E8.265A.

SI 2025/401 The National Minimum Wage (Amendment) Regulations 2025

These Regulations amend the National Minimum Wage Regulations 2015, SI 2015/621 to increase the rates from April 2025.

These Regulations

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