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
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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
Previous budget information
Autumn 2026 Budget FAQs
Although the exact date is not yet confirmed, we know the next Autumn Budget will be held in late October / early November.
The next Autumn Budget will be delivered by Chancellor of the Exchequer, Rachel Reeves unless she is replaced by the new Prime Minister.
Following the 2026 Spring Statement, the focus for the 2026 Autumn Budget is likely going to focus on the implementation details of previous tax shifts, as opposed to introducing new policy announcements.
We already know the roadmap for several major tax changes, meaning this upcoming Budget is more likely to focus on bedding these in, rather than introducing a wave of brand-new tax changes.
We’ll probably hear whether the government’s VAT reduction for family / children’s activities in Summer 2026 was successful and what the National Minimum Wage will be increasing to. Entrepreneurs will have their fingers crossed that Business Asset Disposal Relief (formerly Entrepreneurs Relief) is not scrapped and that at least some of the previous increases to Employers NI and Corporation Tax are reversed.
Unlikely although major changes to taxes like Capital Gains Tax or Stamp Duty often come in from midnight that day to prevent taxpayers timing transactions to avoid increases.