Autumn Budget 2025: Key Takeaways
The Chancellor, Rachel Reeves, has delivered the 2025 Autumn Budget. The primary focus of this year’s Budget, according to Rachel,…
New Minimum Wages
£8.00
+6% Increase for U18’s & Apprentices
£10.85
+8.5% Increase for 18-20
£12.71
+4% Increase for Over 20s
New Minimum Wages
£8.00
+6% Increase for U18’s & Apprentices
£10.85
+8.5% Increase for 18-20
£12.71
+4% Increase for Over 20s
Business Compliance & Tax Timeline
January 2026
Capital Investment: 40% First-Year Allowance introduced for main-rate assets
April 2026
Employment Costs: National Living Wage rises to £12.71; Writing Down Allowances drop to 14%
April 2027
Income Tax Reform: Dividend, savings, and property income tax rates increase by 2%
April 2028
Vehicle Tax: New mileage-based tax for EVs (3p/mile) and hybrids (1.5p/mile)
April 2029
Pension Strategy: NICs relief on salary sacrifice pensions capped at the first £2,000
Businesses should calculate the impact on wage costs as a matter of urgency and decide on a strategy to minimise impact on the bottom line.”
Andy Steele, Founder 360, Chartered Accountants
Business Compliance & Tax Timeline
£1,000,000 Business asset disposal untouched
£1,000,000 Business asset disposal untouched
£1,000,000 Business asset disposal untouched
£1,000,000 Business asset disposal untouched
£1,000,000 Business asset disposal untouched
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Fully Funded Training for SMEs
From the 1st August 2026, SMEs across the UK will be eligible for fully funded training for apprentices under the age of 25.
Andy Steele describes this as a huge U-turn on changes to apprenticeship funding in a previous budget.
Fully Funded Training for SMEs
From the 1st August 2026, SMEs across the UK will be eligible for fully funded training for apprentices under the age of 25.
Andy Steele describes this as a huge U-turn on changes to apprenticeship funding in a previous budget.
2026 vs 2025
2026 |
2025 |
|
|---|---|---|
Capital Allowance (First-Year) |
40% |
0% |
Writing Down Allowance (Main Rate) |
14% |
18% |
Employee Ownership Trust Relief |
50% |
100% |
Trusted Hull Accountants
360, Chartered Accountants are a hull-based firm providing quality, award-winning service for over 15 years. We specialise in accounting, taxation, and business development services. We’d be happy to find out how we can help you, get in touch with us today.
Top Tips:
Calculate the impact on new wage costs
Research into hiring apprentices
Landlords should speak to their accountants about structuring their affairs
Always speak to your accountant if you are unsure on a change
