Our analysis of the announcements in the 2025 Autumn Budget has been published HERE
2025 Autumn Budget
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VAT and other indirect taxes
No major changes, only some minor points of interest.
Asset Income Shakeup
Additional taxes on investment income to more closely align with PAYE and National Insurance on salaries.
Reeves’ “scale-up” plan
Rachel Reeves opened her 70-minute Budget speech vowing to make it easier for entrepreneurs to start, scale and stay in the UK by expanding current tax measures, which she hopes will incentivise greater investment into scaling companies, as well as attracting and retaining high-calibre candidates.
Homes under the cosh: A New ‘Mansion Tax’
Rachel Reeves targets high-end residential real estate with effects sure to ripple through London and the South.
NIC, Pensions and ISA allowance
Changes to salary sacrifices, ISA limits frozen until 2030/31 and a hint tax may be deducted from the State Pension.
Inheritance tax – a mixed bag
No headline grabbing inheritance tax changes this year, but some anti-avoidance measures and a couple of welcome reliefs.
Reeves’ takes a bite out of EOTs
Relief halved for business owners establishing employee ownership trusts (EOTs) from 26 November 2025 and other capital gains tax changes.
Capital allowances cut (but one additional relief)
Reeves reshapes tax relief for plant and machinery investment: a 40% first-year allowance introduced, but cuts to writing-down allowance rates.
American style tattletale
In a bold move to combat tax fraud HMRC will introduce a whistleblower reward scheme modelled on the US system. Those reporting tax evasion could potentially receive up to 25% of the resulting additional tax collected from their tip. With the UK tax gap reaching £39.8...
Encouragement to pay VAT on time
In times of global uncertainty, worry about the economy and the nation’s public finances, there was only one (not very exciting) mention of VAT hidden among the details of the Chancellor’s Spring Statement. The measure appears to be a strengthening of previous pledges...
A 15% cut to Civil Service running costs? HMRC capacity is set to expand
Days before the Spring Statement, a 15% cut to Civil Service running costs was headline news, but in her statement the Chancellor promised further investment in HMRC, particularly: Debt management Offshore tax non-compliance Counter-fraud Debt management By the end of...
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