Are you 26 November Budget-ready?

Published: September 2025

On 26 November, the Chancellor Rachel Reeves will deliver her second Autumn Statement.  It will be 12 weeks since the date was announced to Parliament and just like last year’s delayed Autumn Statement, it’s creating lots of frenzied speculation.  This speculation is heightened with the Chancellor needing to raise further taxes to fill the latest black hole, with the most recent shortfall prediction showing £30billion+ needing to be raised!

Based on the rumours and speculation being circulated, what could we see announced and what action could you consider taking prior to 26 November?  Here are a few things you may wish to review and seek further advice on:

• Further restrictions on pension funds following the IHT bombshell from April 2027.  Will there be a restriction on tax-free cash you can draw down, a reduction in the amount you can contribute or the tax relief you can reclaim?
• Further increases to the tax rates applicable on Capital Gains realised on your investments to align with income tax.  Consider taking profits and rebasing your investments.  Consider offsetting any carried forward losses.  Consider moving assets to your spouse and use their allowances.  Any tax due from gains realised is not payable until 31 January 2027.
• If you are considering gifting assets, there is speculation that there could be an extension to the 7-year clock and / or a lifetime gifting limit.  Consider gifting now, whether directly or into a trust.  Do you have scope to make gifts out of excess income?

With only 61 days until the Autumn Statement, you should review your financial planning needs as soon as possible to ensure any action needed is carried out and seek impartial advice.

We are always here to help you with any questions or concerns you may have.  If you would like to talk to one of our Chartered Financial Planners, please contact us on 01223 233331 or email info@mmwealth.co.uk.

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Disclaimer

Opinions constitute our judgment as of this date and are subject to change without warning. This article is for general information only and does not constitute advice. All contents are based on our understanding of current taxation and legislation, which is subject to change.

The information in this article is not intended as an offer or solicitation to buy or sell securities or any other investment, nor does it constitute a personal recommendation.

The Financial Conduct Authority does not regulate estate planning and tax planning.