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Autumn Budget November 2025


In the Autumn Budget delivered on 26 November 2025, Chancellor Rachel Reeves announced up to £26 billion in tax-raising measures, including a three-year extension of the Income Tax threshold freeze, alongside increases to taxes on property, dividends and savings. The Budget also introduced both employee and employer National Insurance contributions on salary-sacrifice pension contributions above £2,000 a year and brought in a new tax on homes valued at £2 million or more.

On spending, Ms Reeves took action to cut energy bills, freeze rail fares and end the two-child benefit cap.

Ms Reeves said: ‘I can tell you today that, for every family we are keeping our promise to get energy bills down and cut the cost of living with £150 taken off the average household energy bill from April.

‘Money off bills, and in the pockets of working people. That is my choice.’

Autumn Budget 2025 read full document

The Spring Statement 2025

Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she ‘remains committed to one major fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending changes and, in turn, to support the government’s growth mission’.

The Chancellor did meet her commitment that there would be no major tax announcements but tax is only one side of the equation. The other is spending and the Spring Statement confirmed a number of the measures recently announced, namely:

•          cuts to the welfare state

•          cuts to the civil service

•          an increase in defence spending.

There were also announcements about the rollout of the Making Tax Digital (MTD) for Income Tax project.

Spring Statement 25 read full document

Personal tax deadline has now passed

Please remember the payment deadline for your 2023/2024 personal tax deadline has now passed and interest will be accruing on any tax owed.

Also any tax owing for 2023/2024 will incur a 5% surcharge if not paid within 30 days of the deadline – see below for late payment penalties

Penalties are set as follows:

The penalties do not apply to payments on account – although interest will be due.

If you are struggling to meet the tax due  – you could apply online for a time to pay arrangement, to avoid penalties it is important this is in place before 1st March.

Please review the attached document for more information on interest and penalties

Wishing you all the best for the holiday season


Please note our team will be working reduced hours over the festive period and our office will be closed from 24th December to 2nd January.

The Autumn Budget 2024

Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.

Billions in tax rises

Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets. The Chancellor also confirmed the introduction of VAT on private school fees and the abolishment of the tax regime for non-UK domiciled individuals.

We are pleased to enclose a copy of our Autumn Budget 2024 which summarises the main points relating to taxation in the Chancellor’s speech.

We hope the summary will provide you with a useful update and allow you to get to grips with the changes. If you have any questions in understanding how the changes to tax affect you, please do get in touch.

MTD for Income Tax – A reminder of what’s to come

Due to a lack of updates from HMRC, you would be forgiven for thinking that the brakes had been applied to the rollout of MTD for Income Tax. You would be wrong! 

Despite the uncertainty surrounding the implementation of this new digital scheme, HMRC is still pressing ahead. This is what we know so far:

  • The scheme will apply to self-employed individuals and property landlords.
  • Phase 1 – from April 2026 – applies to those with an annual income of £50,000 a year or more.
  • Phase 2 – from April 2027 – applies to those with an annual income between £30,000 and £50,000.
  • The tax year dates remain unchanged.
  • MTD for Income Tax also applies to self-employed individuals who must comply with MTD for VAT.

Regardless of which date the taxpayer enters the scheme, the compliance process is as follows:

  • All income and expense information must be recorded and submitted digitally every quarter using HMRC approved MTD for Income Tax compatible software.
  • Taxpayers must make any accounting adjustments or allowances to their digital records.
  • The Final Declaration, which replaces the Self Assessment part of the return, must be filed, and any tax due should be paid by 31 January after the end of the tax year.

No announcements have been made regarding how or when individuals earning less than £30,000 a year or partnerships will be required to join the scheme.

We will let you know if any changes are made to the timings or the eligibility criteria.