With the Autumn Budget taking place on 28 October 2026, there is likely to be plenty of speculation about what could change and what it might mean for businesses.
For small-business owners, it can be difficult to know what to pay attention to… and what to ignore.
While nobody knows exactly what the Chancellor will announce until the Budget is delivered, there are some sensible things you can do now to make sure your business is prepared.
Don’t make decisions based on speculation
In the weeks leading up to a Budget, there will inevitably be plenty of headlines about possible tax rises, changes to allowances and new measures for businesses.
It is important to remember that these are not confirmed until they are announced.
If you are considering making a significant investment, changing how you operate your business or bringing forward expenditure because of something you have read in the press, it is worth taking professional advice first.
A headline is not a tax plan.
Get a clear picture of your finances
One of the most useful things you can do before the Budget is make sure you understand where your business stands financially.
Do you know:
- How much profit your business has made so far this year?
- How much cash you currently have available?
- What invoices are still outstanding?
- What tax liabilities are coming up?
- What your business is likely to earn for the rest of the year?
- Whether you have any significant expenditure planned?
Having accurate, up-to-date accounts means you can make decisions based on your own business figures rather than reacting to speculation.
Review your costs
Rising costs remain an important consideration for many businesses.
Employment costs, business rates and other operating expenses are all areas being discussed ahead of the Budget. The ICAEW has recently called for greater certainty for businesses and highlighted employment taxes, business rates and regulatory costs among its concerns.
It is therefore worth reviewing your own costs now.
Are there areas where expenditure has increased significantly? Are your prices still appropriate? Are you recovering your costs through your current pricing structure?
A Budget may change some of the numbers, but understanding your own numbers is something you can control.
Planning to invest in your business?
If you are considering buying equipment, taking on staff, moving premises or making another significant investment, the Budget may be relevant to your plans.
That doesn’t necessarily mean you should rush to spend money before 28 October.
The right timing will depend on your individual circumstances, the nature of the expenditure and the tax treatment available.
Before making a large purchase simply because of a potential tax change, speak to your accountant.
Don’t forget about tax planning
Tax planning isn’t something that needs to wait until your accounts are finished.
Understanding your expected profit and tax position can help you make better decisions throughout the year.
It can also prevent an unpleasant surprise when your tax bill arrives.
If the Budget introduces changes that affect your business, having your current figures available will make it much easier to understand what those changes mean for you.
What happens after the Budget?
The Budget will be delivered on 28 October, accompanied by an economic and fiscal forecast from the Office for Budget Responsibility.
There will undoubtedly be plenty of commentary immediately afterwards, but not every change announced will affect every business.
The important question isn’t simply “What did the Chancellor announce?”
It’s: “What does it mean for my business?”
Once the Budget has been announced, we’ll be looking at the key changes and explaining what they could mean for our clients and other small businesses.
Need help getting your numbers in order?
If you’re unsure about your current tax position, planning a significant investment or simply want a clearer picture of how your business is performing, WBV Accountants can help.
Get in touch with our team to discuss your requirements.
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