What Does It Mean for You and Your Business?
The Autumn Budget 2026 has brought a number of changes that could affect your personal finances, business costs and future financial planning. While some measures will take effect from April 2027, others will be introduced over the coming years, making it important to understand what has changed and when.
Whether you’re a business owner, self-employed, a landlord or planning for retirement, the announcements may have implications for your tax position.
At WBV Accountants, we’ve reviewed the key announcements to highlight some of the changes worth knowing about and what you may need to consider next.
What are the main tax changes?
One of the key announcements is the extension of the freeze on income tax thresholds and personal allowances until April 2031. Although the rates themselves remain unchanged, increases in earnings could mean that more of your income becomes subject to tax at a higher rate over time.
There are also changes ahead for people receiving savings interest or property income. From April 2027, the tax rates on these types of income will increase, which could affect savers and landlords.
If you receive rental income or have savings outside tax-free allowances, now is a good time to review your financial position and consider how these changes could affect you.
What should business owners be thinking about?
For businesses, the Budget includes several measures worth reviewing when planning expenditure, managing costs and making decisions about future growth.
Corporation Tax rates remain unchanged, with the main rate staying at 25% for profits over £250,000 and the small profits rate remaining at 19% for companies with profits of £50,000 or less.
The Annual Investment Allowance also remains at £1 million, while existing full expensing rules continue for qualifying company expenditure. However, the main rate of capital allowances will reduce from April 2027, which may be relevant if you’re planning to invest in equipment or other qualifying assets.
It’s worth discussing planned purchases with your accountant before committing to significant expenditure, so you understand the tax treatment and how it fits into your wider business plans.
Employers should also prepare for the National Minimum Wage and National Living Wage increases scheduled for April 2027. The rate for workers aged 21 and over will increase from £12.71 to £13.21 per hour. Reviewing payroll costs ahead of time can help you budget for the change.
Pensions, savings and planning for the future
The Budget also includes announcements affecting pensions, savings and inheritance planning.
The annual pension allowance will remain at £60,000 for 2027/28, while the £20,000 annual Cash ISA allowance will continue to be available following the reversal of the previously planned reduction.
However, an important change is planned for April 2027, when most unused pension funds and pension death benefits will be brought within a person’s estate for Inheritance Tax purposes.
For those considering retirement, passing assets to family members or reviewing their estate, this is a change worth understanding. Your existing arrangements may need reviewing in light of the new rules.
Changes for self-employed people and those with additional income
If you’re self-employed or earn additional income outside your main employment, the increase in the Trading Allowance may be relevant to you.
From April 2027, the allowance will increase from £1,000 to £3,000, alongside an increase in the Self Assessment trading income reporting threshold to £3,000.
The rules around reporting income can depend on individual circumstances, so it’s important to check how the changes apply to you rather than assume that additional income no longer needs to be declared.
Why planning ahead matters
Not every Budget announcement will affect everyone, and the impact will depend on your income, business structure, assets and future plans.
However, reviewing your finances now can help you prepare for changes before they take effect. It may also highlight opportunities to make better-informed decisions about business investment, pension contributions, savings or the timing of an asset sale.
The important thing is to understand which changes are relevant to you and whether you need to take action.
How WBV Accountants can help
Keeping up with tax changes can be difficult, particularly when announcements take effect at different times or depend on specific circumstances.
At WBV Accountants, we can help you understand the changes that matter to you, review your tax position and plan ahead with greater confidence.
If you’re unsure how the Autumn Budget 2026 could affect you or your business, get in touch with our team to discuss your circumstances.
You can also download our Budget guide for a more detailed overview of the announcements, key figures and important dates.
This article provides general information only and does not constitute tax advice. Budget measures may be subject to changes in legislation and further guidance. Please seek professional advice tailored to your circumstances before making financial or tax decisions.
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