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Rachel Reeves announced the UK Autumn Budget on 26 November 2025, explaining key changes on tax, household finances and how the government plans to support public services in the years ahead.

Initial thoughts The Autumn Budget 2025 comes at a difficult moment. As Chancellor, Rachel Reeves has admitted the UK economy faces weak productivity, tighter finances and global headwinds. She has been clear that the easy days are gone and that tough choices lie ahead. Her party is still bound by the manifesto commitment not to raise income tax, VAT or national insurance for working people. The budget gap though is real and large. Until now, this promise has been under heavy pressure. However, the recent announcement today (14 November 2025) to abandon any increase to basic and higher income tax rates has reshaped expectations. This U-turn has removed one of the most direct options for raising revenue and has pushed the government to look elsewhere. In practical terms, I believe this Budget will shift further towards disciplined tweaks, threshold changes, selective relief adjustments and long-term stability. For individuals and small businesses the message is the same: plan for change, not for more of the same. Anticipated changes Here are the key tax and fiscal areas I expect to feature and where I’d advise clients to look now. Income tax & threshold freezes The government has now ruled out any rise to the basic or higher income tax rates. Instead, all focus has turned to thresholds. Freezing the personal allowance and higher-rate thresholds is still very likely. Cutting thresholds is now also being explored as a way to raise billions without increasing the actual rates. This creates “fiscal drag”, where people pay more tax over time even though the rates have not moved. Savings, pensions and reliefs Reliefs on pensions and ISAs remain under the spotlight. I expect changes to employer NI relief on pension contributions, tighter salary-sacrifice rules and possible adjustments to the cash-ISA allowance. Tax-efficient saving may become more selective and less generous. For clients this means reviewing savings plans now rather than waiting for the Budget. Property, wealth and higher value assets Property and wealth taxes remain strong possibilities. This could include new charges on high-value homes, changes to stamp duty or council tax bands, or adjustments to inheritance or capital gains tax. Anyone with significant property or investment assets should consider early planning. Exit tax A possible exit tax may charge individuals on gains built up while they lived in the UK if they move abroad. This would treat certain assets as if they were sold on departure, with early suggestions pointing to a tax of around 20 percent on unrealised gains. If you are considering relocating, now would be a good time to review your asset position as timing and structure could make a real difference. Small business, indirect tax and thresholds Smaller firms should keep a close eye on indirect tax changes and registration thresholds. A reduction in the VAT registration threshold or increased business-rates bills could have an immediate impact on costs and compliance. Planning ahead is key. Impacts on individuals & small business Individuals Freezing or cutting thresholds means income rises but may push you into higher tax bands even if rates stay the same. If pension or ISA reliefs change, long-term saving strategies may need to be updated. Property or wealth-tax changes may prompt earlier action for those with high-value assets. Small businesses A change to the VAT threshold could pull more small businesses into registration, increasing admin and compliance costs. Business-rates or indirect tax moves could raise running costs. Growth plans may need adjusting as support becomes more targeted rather than broad. Conclusion – are those no-tax-hike promises about to be broken? The sharp U-turn on income tax rates suggests the government is holding the manifesto line on headline taxes, but that does not mean tax bills will stay the same. Stealth measures such as frozen or cut thresholds, tighter reliefs and indirect tax adjustments may still leave many worse off. Plan on the basis that changes are likely. Even if headline rates stay the same, many people may still end up paying more through threshold shifts and reduced reliefs. The focus is moving away from chasing new reliefs and towards preparing for the pressures ahead. Whether you’re an individual or a business owner, now is the time to review your position and prepare. This Budget is shaping up to be more disciplined than generous, and acting early will help reduce any disruption. Further reading Starmer and Reeves drop proposal to increase income tax rates in Budget

What is a DLA A director’s loan account (DLA) records all money that moves between you and your company which is not salary, dividends or expense repayments. It shows whether the company owes you money or whether you owe the company. Every director of a limited company should understand how their DLA works, as it affects both tax and company accounts.

If you buy and resell second hand goods online, the VAT Margin Scheme could save you thousands of pounds. Many resellers on platforms like eBay, Depop, Vinted or Shopify shops are not aware this scheme even exists. If you qualify, it can transform how you price your products and how much VAT you pay.

The Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) are UK government measures designed to encourage private investment in early-stage businesses by providing generous tax reliefs. 

Company cars remain a valuable benefit for both businesses and employees. They can reduce costs, improve convenience, and even support greener choices. With more electric models available, company cars are no longer just about luxury. They can also be a smart financial decision.

Quick note: I’m not a financial advisor. This is just how I would personally budget a £37,500 salary based on my own understanding and experience. Everyone’s situation is different, so always do what works best for you.

The UK Government has recently announced major changes to how small and micro companies must file their accounts, starting from 1 April 2027.

If you are a self-employed contractor or work through a limited company, you have likely heard of IR35. It has been a hot topic for several years and still affects thousands of contractors and the businesses that hire them. This guide will explain what IR35 is, why it was introduced, how it affects you and what to do if you are unsure of your status.

Make the most of your year-end with simple, effective planning.

Cash flow issues are one of the biggest reasons small businesses fail. And yet, it’s often something business owners don’t pay close attention to, until it's too late.

Relying on traditional accounting methods means dealing with paperwork, manual data entry, and the risk of costly mistakes.  Cloud accounting software changes everything. Platforms like Xero and QuickBooks have transformed how small businesses manage their finances. If you're still using spreadsheets or outdated software, now is the time to upgrade.

Running a small business is exciting, but managing finances can be one of the biggest challenges. Even the most well-intentioned business owners can make costly financial mistakes without realising it. Understanding these common pitfalls, as well as how to avoid them, can help keep your business financially healthy and set it up for long-term success.

As a small business owner, you no doubt spin a lot of plates. You manage operations, handle customer service, market your products, and, in many cases, try to keep up with your finances. But handling your finances is more than just recording transactions - it’s about keeping your business financially healthy. If you’re struggling to stay on top of it, unless you have a finance professional in your business already, outsourcing your finance function could be one of the smartest decisions you make. Here’s why:

Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is a major step in updating the UK tax system. The Government has confirmed that it will now take effect from 6 April 2026 . This will change the way self-employed individuals and notably landlords report their income to HMRC.

Cryptocurrency is becoming more popular as a means of investing and trading, however it does come with complexities, notably from a Capital Gains Tax (CGT) perspective. Understanding these complexities is key to ensure you’re not stung with any surprise tax bills.

One of the busiest and most daunting days for some individuals in the UK is 31 January, the deadline for submitting self-assessment tax returns & paying the relevant tax. Despite reminders, many clients leave it late, which adds additional stress and may lead to errors. But what happens if returns or payments are missed? What are the consequences, and are there alternative options available? Read on for answers!

As we dive into 2025, there’s no better time to take control of your finances. Whether you’re improving your personal financial habits or making smart decisions for your business, a robust plan can set the tone for a successful year. Here are some of my tips to help you get started.

While not all businesses need to register for VAT as soon as you start trading, those that do may could reclaim VAT paid on purchases made before registering. Here, we’ll explain the rules, restrictions, and process for reclaiming VAT on pre-registration purchases.

Transitioning from a sole trader to a limited company is a significant step that can benefit your business by providing limited liability, potential tax efficiencies, and a more professional image. Here’s a high-level guide to help you make a smooth transition.

With the holiday season just around the corner, directors of UK limited companies might be looking for ways to spread festive cheer while staying on the right side of tax rules. Whether you're rewarding employees, appreciating clients, or treating yourself as a director, here's a guide to making the most of allowable Christmas expenses.

Chancellor Rachel Reeves’ much-anticipated Budget has landed, introducing both expected changes and some surprises in personal, employment, and business taxes.

Should I pay myself with Salary or Dividends? Or both? Read on to find out!

Embarking on the journey of changing accountants can seem like a daunting task for many businesses. However, the reality is that the process is much more straightforward than commonly perceived. In this blog, we'll explore why firstly, changing accountants is simpler than people think and secondly, why it might be a beneficial step for your business. So, let’s begin! Believe it or not, for you, changing accountants only entails the below three steps: 1. Notify your current accountant of your desire to leave All it takes is one simple email or phone call. Easy, right? 2. Settle any debts! At the point of notifying your accountant, it is advised that you settle any outstanding debts with them. This helps in making the process quicker. 3. Sign your new engagement letter! Upon addressing the above two points, your new accountant can then obtain professional clearance from your current accountant, in which they will obtain all tax codes, log-in credentials and necessary books and records. Once this has been received, all you need to do is sign a new engagement letter that states the scope of the works to be completed. I know, you’re thinking this sounds too easy. But guess what? It really is that simple! Now, let's look at the benefits you can expect from changing accountant: 1. Quicker responses to queries Fed up with contacting your accountant through emails and receiving a delayed response? Some practices now engage in client communications through WhatsApp, therefore enabling you to get answers to your accounting and tax questions in real time. 2. Tech-savvy solutions Your current accountant may maintain books and records in paper format or on Excel. In the digital age, many accounting processes have now become streamlined and automated. Cloud-based accounting software allows for easy access to financial data, making it simpler to transfer information between accountants. 3. Better alignment with your business goals Businesses evolve, and so do their financial needs. Changing accountants provides an opportunity to align your financial management with the current goals and direction of your business. The new accountant can offer fresh perspectives and insights tailored to your evolving needs. Conclusion Changing accountants is a manageable process that, when approached with transparency and communication, can be a smooth transition. By understanding that the transfer of financial records is a routine part of the profession, businesses can confidently make the switch to an accountant better suited to their current and future financial requirements. Ultimately, the goal is to enhance your financial management and position your business for continued success. If you’re not put off with changing accountants after reading the above, do get in touch with us through the link below to find out the next steps in unlocking your financial freedom.