2025/26 Tax tables

The new tax year is here, and with it come a number of changes that could affect your income, savings, and planning for the year ahead. From updates to personal allowances and pension limits, to shifts in National Insurance and dividend tax rates, staying informed can help you make better financial decisions.

A few of the key changes include:

• Employers’ NICs increase

  • Rate up from 13.8% to 15%

  • Threshold dropped to £5,000

• Employment allowance doubled

  • Increased from £5,000 to £10,500

  • More businesses now eligible (no £100k threshold)

• Minimum & Living Wage increase

  • National Living Wage now £12.21/hour

• Capital Gains Tax (CGT) rates increase

  • Basic rate: 18%

  • Higher rate: 24% (same as property sales)

• Electric Vehicle (EV) tax introduced

  • EVs now subject to Vehicle Excise Duty

  • Includes £10 first-year fee

We’ve put together all the latest figures in one place to make it easy for you to see what’s changed and how it might impact you. Take a look at the tables below for a full breakdown of the key updates for 2025/26.

Download our 2025/26 tax tables here

If you have any further questions about the 2025/26 tax tables, please get in with your local office or email us on info@smh.group.