The Chief Minister gave his annual Budget address to the Parliament on Monday 30th June 2025. Surprising many, on the issue of personal tax rates he announced there would be no changes for the upcoming year. He also announced that the National minimum wage would be going up 60 pence to £9.50 per hour. There are no changes to corporation tax, or import duties. There was further information about increases to pension and disability benefits, Government revenue, the upcoming Transaction tax and a Public Sector pay rise. The full text of his 3 hour speech is available at the following link: The Budget 2025 – The Chief Minister’s Address – 479/2025
From a payroll perspective, there are no changes to tax and a 5% increase to social insurance. The social insurance change is available in the latest version of EasyPay.
We continue to update EasyPay with small changes and fixes as our support team deals with a range of end of year issues. We encourage all users to upgrade frequently over the next month in order to ensure they benefit from the most recent changes.
We are currently waiting on the new revised Tax Tables for 2025 to be published on the Tax Office website. We are not expecting any changes to the tables. Nevertheless we would encourage all to watch for further software updates throughout July.
Our full newsletter detailing the latest update is available at: https://mailchi.mp/easypay/easypay-news-july-17468960