Autumn Budget 2026

With a new Chancellor and a new Prime Minister, global uncertainty and continuing concern around the cost of living generally and energy costs specifically, this was a Budget speech that we were all waiting for.

There had been a few early announcements, and some assurances that John Healey was going to look after small businesses, and would aim to give families some much needed breathing space. The OBR’s comment that ‘The UK’s economic and fiscal position remains very challenging.’ perhaps perfectly summarised the difficult nature of the task for the new occupant of Number 11 Downing Street.

What was announced?

• A further 2 percentage point rise in Income Tax on savings and property income from 6 April 2027.
• Plans to halve the Business Asset Disposal Relief limit to £500,000 and introduce a 10% Founders’ Relief from 6 April 2027.
• Plans to reform how capital company distributions are taxed from April 2028.
• Increases and decreases to plant and machinery capital allowances.
• A more generous Trading Allowance from 6 April 2027.
• The cash ISA limit kept at £20,000, and a new First Time Buyer ISA from April 2029.
• A 3.9% rise in the National Living Wage to £13.21 an hour from 1 April 2027.
• A £100 Household Energy Payment for Council Tax bands A to D in England from January 2027.

The Summary…

As ever, our Budget Summary includes the key measures announced yesterday, along with more detailed analysis and guidance on what the announcements might mean for you. Click below to access your copy.

If you’d like to read the Budget Report in full, you can do that here.

There was a lot of content in yesterday’s speech, and there will be more detail to come. We’ll work through all of that, and the inevitable small print, and will post updates with this extra information as appropriate.

As always, if you have any specific questions from any of the announcements so far or the impact they may have on your personal or business affairs, please get in touch.