STATE PENSIONS Annual Weekly New state pension £11,502.40 £221.20 Basic state pension – single person* £8,814.00 £169.50 Basic state pension – spouse/civil partner* £5,280.60 £101.55 *State pension age reached before 6/4/16 REGISTERED PENSIONS 24/25 23/24 Lump sum and death benefit allowance £1,073,100 N/A Lump sum allowance £268,275 N/A Lifetime allowance N/A £1,073,100 Money purchase annual allowance £10,000 £10,000 Annual allowance* £60,000 £60,000 Annual allowance charge on excess is at applicable tax rate(s) on earnings *Reduced by £1 for every £2 of adjusted income over £260,000 to a minimum of £10,000, subject to threshold income being over £200,000 TAX INCENTIVISED INVESTMENTS 24/25 23/24 Total Individual Savings Account (ISA) limit, excluding Junior ISAs (JISAs) £20,000 £20,000 Lifetime ISA £4,000 £4,000 JISA/Child Trust Fund £9,000 £9,000 Venture Capital Trust (VCT) at 30% £200,000 £200,000 Enterprise Investment Scheme (EIS) at 30%* £2,000,000 £2,000,000 EIS eligible for CGT deferral relief No limit No limit Seed EIS (SEIS) at 50% £200,000 £200,000 SEIS CGT reinvestment relief 50% 50% *Above £1,000,000 investment must be in knowledge-intensive companies CAPITAL GAINS TAX 24/25 23/24 Annual exemption: Individuals, estates, etc £3,000 £6,000 Trusts generally £1,500 £3,000 Below UK higher rate band: Tax rate 10% 10% Surcharge for residential property and carried interest 8% 8% Within UK higher and additional rate bands: Tax rate 20% 20% Surcharge for residential property 4% 8% Surcharge for carried interest 8% 8% Trusts and estates: Tax rate 20% 20% Business Asset Disposal Relief 10% on lifetime limit of £1,000,000 for trading businesses and companies (minimum 5% participation) held for at least 2 years
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