Budget 2025:
What It Means for You
What It Means for You
Get clear, expert financial guidance to navigate the new changes
Personal finance
How will Budget 2025 affect your personal finances?
Budget 2025 introduces several changes that could impact your income, taxes, and savings. Understanding these changes is crucial to making the right financial decisions. We can help you estimate how these changes affect you, based on your income and lifestyle.
- Income: Changes to income tax bands may affect your take-home pay.
- Tax credits: New tax credits are available, helping to reduce your overall tax burden.
- Pensions: Pension contribution limits have increased, offering greater tax relief for retirement savings.
- Investments: Capital gains tax adjustments could influence your investment strategies.
Business outlook
Prepare your business for Budget 2025
Budget 2025 introduces opportunities and challenges for businesses of all sizes. Key updates in tax regulations and new financial support can influence your profitability. Stay informed by understanding the most important changes.
- Taxation: No changes to corporate tax rates, but new R&D and business tax credits have been introduced.
- Grants: New grants, like the €4,000 Power Up Grant, support businesses in hospitality, retail, and innovation sectors.
- Research & Development: Expanded R&D tax credits encourage greater investment in innovation and technology.
- Compliance: Ensure your business complies with new tax credits and grants to avoid penalties.
Key Changes
The 2025 Budget
The 2025 Budget introduces a €14 billion package, with €5.3 billion for cost-of-living supports, focusing on welfare increases, tax reforms, and healthcare investments
- Cost of Living Relief
- Two €125 energy credits, double child benefit payments, and a €420 'baby boost' for parents are part of the measures to support households. Increased social welfare payments and one-off lump sums are also included.
- Tax Adjustments
- Income tax bands will increase by €2,000, with the USC rate cut to 3%. Renters’ tax credit rises to €1,000, and several tax credits see increases.
- Social Welfare Increases
- A €12 increase in weekly social welfare payments, €15 increase to maternity and paternity benefits, and boosts to child support payments are confirmed.
- Healthcare Funding
- €6.4 billion for healthcare expansion, with 335 new hospital beds and free hormone replacement therapy (HRT) from 2025.
- SME and Entrepreneur Support
- New PRSI rebates, grants, and increased tax reliefs are provided for small businesses, including a €4,000 Power Up Grant for hospitality and retail sectors.
Budget 2025 - frequently asked questions
- What are the key tax changes introduced in Budget 2025?
- How will Budget 2025 affect my pension contributions?
- What support is available for small businesses in Budget 2025?
- How can I minimise the impact of tax changes on my income?
- Is there new support for first-time homebuyers?
- Are there changes to corporate tax rates?
- How can my business comply with the Budget 2025 changes?
- Can I still use last year’s tax-saving opportunities?
At Empowered Money, we simplify Budget 2025 for you. With expert advice, we help optimise your finances and ensure you're prepared for the future. Let us guide you with confidence.
Don’t wait until it’s too late
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