2024 Budget: What you need to know

The video discusses upcoming changes to tax rates, specifically increasing the rate by 1.2 percentage points to 15% starting April 2025. It also mentions reducing the secondary threshold from 9100 lbs to 5000 lbs annually. Additionally, the speaker assures that there will be no increases in National Insurance, VAT, or income tax.

What is the new percentage point increase starting from April 2025?

• 12.5%

• 17.5%

• 15%

• 10%

By how much will the secondary threshold be reduced?

• From 9100 lbs to 5000 lbs

• From 9100 lbs to 6000 lbs

• From 9100 lbs to 4000 lbs

• From 9100 lbs to 7000 lbs

Which of the following will not see an increase according to the policy?

• National Insurance

• Property Tax

• Corporate Tax

• Sales Tax

What assurance is given regarding VAT?

• It will be increased

• It will be abolished

• It will be decreased

• It will remain the same

What is the policy regarding income tax?

• It will be increased

• It will be decreased

• It will remain unchanged

• It will be abolished