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Autumn Budget

Our summary of all the key announcements.

Chancellor Rachel Reeves delivered her Budget on Wednesday 26 November 2025.

Highlighting income tax, savings, dividends and pensions.

Highlighting National Insurance, salary sacrifice pensions and National Living Wage.

Highlighting Corporation Tax, Capital Allowances, EIS and VCTs.

Highlighting Capital Gains Tax and Inheritance Tax.

Highlighting VAT and High Value Council Tax Surcharge.

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A new counter-fraud squad has launched investigations against those who defrauded the public during the Covid pandemic, the Treasury has announced.

The tax gap rose to a record high of £59.2 billion in cash terms for 2024/25, according to the latest data from HMRC.