The Chancellor Rachel Reeves delivered her Autumn Budget on Wednesday 26 November. If you are still unpacking her range of announcements and how you may be affected, make sure to download GMcG’s Budget Analysis.

GMcG’s 18-page Analysis publication explores the detail behind Wednesday’s tax-related announcements, with insight and analysis on how businesses, individuals and households may be impacted.

GMcG Budget Analysis: https://bit.ly/4rvUBSr

Rumours about significant wealth tax measures proved to be unfounded. However, Income Tax rate rises on unearned income from April 2026 and April 2027 and the freezing of tax bands until April 2031 will result in increased tax liabilities for many.

There were no significant changes to Capital Gains Tax or Inheritance Tax; although there was a welcome relaxation of the previously announced IHT Agricultural/Business Relief £1M 100% band, which may now be transferred between spouses/civil partners.

Businesses will have to prepare for further rate increases to the National Living/Minimum Wage, although there were no new business tax hikes following last year’s employer National Insurance Contribution increase to 15%.

For more on these and a range of other announcements from the Chancellor, download GMcG’s Budget Analysis at the link above.

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