The 2026 Budget introduces several important tax changes affecting individuals, landlords and businesses. Here are the key announcements:
Property & Savings Tax: Income tax rates increasing by 4 percentage points from April 2027.
Business Asset Disposal Relief: Lifetime allowance reducing from £1 million to £500,000.
Making Tax Digital: Expanding to self-employed individuals and landlords earning over £30,000 from April 2027.
Trading Allowance: Increasing from £1,000 to £3,000 for side hustles and small-scale trading.
Pensions: New Pension Tax Allowance introduced to protect eligible state pensioners from additional tax.
ISAs: £20,000 annual allowance retained, with a new First Time Buyer ISA planned for 2029.
Business Mileage: Allowance increased to 55p per mile for the first 10,000 business miles.
Capital Allowances: First Year Allowance increasing to 50% for qualifying business investments.
Understanding these changes now could help you plan ahead, minimise your tax liabilities and make informed financial decisions.
Read the full briefing here (opens as a PDF in a new window)
