2025 Tax Card: Understand New Tax Rules

2025 Tax Card


Our accountant’s tax card (sometimes called a budget tax card, tax facts card, or tax rate card) is a summary sheet given by McGinty Demack to its clients after a government budget is announced. Its purpose is to give a quick, clear overview of the new tax rules, rates, and thresholds that apply for the coming tax year so clients can plan accordingly.

Download a tax card

What we typically include

Although formats vary year on year, a standard post-budget tax card usually includes:

  1. Income Tax Information

  • New tax bands and thresholds
  • Rates for each band
  • Personal allowance / standard deduction changes
  • Any surtaxes or temporary levies

  1. National Insurance / Social Security Rates

  • Employee and employer contribution rates
  • Thresholds for contributions
  • Changes announced in the budget

  1. Corporation Tax

  • Corporation tax rate(s)
  • Small-profits rate / marginal relief (if applicable)
  • Relevant allowances, reliefs, or incentives

  1. Capital Gains Tax

  • Annual exempt amount
  • CGT rates for individuals and trusts
  • Property-related CGT rates (if different)

  1. Value Added Tax (VAT) / Sales Tax

  • Standard, reduced, and zero rates
  • Registration thresholds
  • Flat-rate scheme updates, if applicable

  1. Payroll & Employment-Related Rates

  • Minimum wage / living wage rates
  • Statutory payments: maternity, paternity, sick pay
  • Employer allowances

  1. Allowances & Reliefs

  • Pension contribution limits
  • ISA / tax-advantaged savings limits
  • Inheritance tax thresholds
  • Business reliefs (R&D credits, capital allowances, etc.)

Download our Tax Card

If you need any assistance in points relevant to you please do not hesitate to contact us

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