May 2024 Saving Tool UK Update
Saving Tool UK has made several updates for 2024/25, including tax rate changes, improved simulation accuracy, and a new Umbrella Calculator for contractors.
Tax
Introducing Saving Tool Advanced
Saving Tool Advanced enhances personal finance management in the UK with deeper insights, improved simulations, and new features while remaining user-friendly.
January 2024 National Insurance Tax Cut
Starting January 6, 2024, a 2% cut in National Insurance contributions affects 27 million UK employees, potentially saving up to £754 annually, despite an overall increased tax burden due to frozen tax bands.