Latest UK Tax Update starting April 2024 | UK Salary Cut
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- เผยแพร่เมื่อ 5 ก.ค. 2024
- #uk #uktax #ukvisa
UK Tax Update starting April 2024 | UK Salary Cut.
What is the latest UK Tax news which starts from April 2024 ?
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Stay informed with the latest UK tax update effective April 2024, impacting salary structures across the UK. This update brings significant changes to tax regulations, including adjustments to income tax rates, thresholds, and allowances. Individuals may experience variations in take-home pay due to alterations in tax bands and allowances. It's crucial to understand these updates to effectively manage personal finances and plan for the future. Stay ahead with comprehensive insights into how the UK salary cut may affect you and ensure compliance with the latest tax laws. Subscribe now to navigate these changes and optimize your financial strategy.
National Insurance (NI) Reduction: Employees will see a 2% cut in their main NI rate, dropping from 10% to 8%. Self-employed individuals benefit too, with a further 2% reduction to 6% (down from 9%).
Tax Savings: This translates to more money in your pocket. An average earner could save over £900 a year.
No Change to Income Tax Rates: Income tax bands (the amount you pay tax on) remain the same (no change to basic, higher, or top rates).
This is a tax benefit, not a decrease in salary. You'll keep more of your earnings thanks to lower NI contributions.
00:00 Introduction
00:10 Latest TAX news
01:00 Instagram
01:03 Study abroad
01:26 Gross pay vs Net Pay
02:33 Personal Allowance
03:07 National Insurance Contribution
04:10 Example 1
05:25 Example 2
06:00 Answering common question
06:04 Question 1
06:29 Question 2
06:50 Question 3
07:03 Question 4
07:15 Question 5
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Hi Sarika, Do you mean tax cuts in the caption?
Thank you so much 🙏 This really help 👍 Tremendous illuminating & latest update 🙌👏Good work 👌Keep going 🙏
Thank you very much for the information. Please make a video about ISA and investment. Much appreciated it.
Hi Sarika!
Thanks for your informative video. In this video you told that if someone earns less than £12570 in a tax year, the paid tax will be returned. Is there any procedure to claim or they will send it to the bank account?
Will be grateful to you if you could clarify it.
Thank you.
You can save tax on earnings by putting money into work pension. You won't pay tax/nic on any amount you pay in thru work.
Happy Holi Mam
Mam if I have education loan and I am paying tax in uk than can I claim something from the tax I am paying?
I got letter from hmrc in that they says if I earn more than 37750.then i need to pay 40% tax for each amount i earn after this. They are taking that money every month now. So how does you can say upto 50000.please reply.
Thanks Sarika
Happy holi to all
Thank u & same to u
Dear mam
I received one job offer invatation letter so can you help me how I can check its fake or right please response me as soon as possible thanki
How does anyone know if their tax code is correct? HMRC says your employer takes care of it, and the employer says PAYE system, which is automatic, takes it from HMRC on the basis of your salary process. I have end up paying huge amount to HMRC, in last two years mainly because I changed my jobs and my tax code kept getting changed and HMRC says you have paid less tax which I have no control over? Any help?
You can get the tax office to check it, can do it online I ad mine checked not long ago
Hi Sarika
Thabk you for the informative videos.
My tak code is BR and I am doing 2 jobs. I checked HMRC app and there is no tax free income for people doing 2 jobs. I'm paying flat 20% on both jobs.
Is it right? Or for my 1st job my tax code should me 1257L?
Could you please help me to understand this.
Many thanks 😊
What is our National insurance contribution used for.?can we claim this?
Based on howmay years you have paid NI, you will get govt pension....
Well explained
no chng in Income Tax...
HRMC, say I owe 600 pounds, as fast as I earn, I'm charged, so I still remain poor
Hello Ma'am Sarika.
I come from Indonesia and i am currently in the process of making a skills worker visa, next month I will work in Scotland and in the sponsorship letter I still get an annual salary of 26,832. I registered a visa for 3 years and have also paid for health insurance for 3 years. I want to ask, do you know what percentage of tax I have to pay from the salary I get?
Please info Ma'am
Thank you
isa video please
Inflation is about to go crazy with the war happening so all this doesn’t mean anything
Hi Sarika!
Hope you are doing well!!
May the festival of Holi paint your life with happiness, success, and prosperity.
Kindly help me to understand about the salary. As you have updated us in your previous informative blog that the UK Home Ministry has increased the salary rate for people coming on Skilled Work Visa. Does £38700/per annum include all taxes and deductions? Is the amount left after all taxes and deductions £38700/per annum.
Thank you
🎉✨
Hello mam can I talk with you about tax
Yes please book your meeting using this link :
topmate.io/knowledge_buddy
Wouda hell