Autumn Budget Guide 2026
A Budget with few surprises, but a record number of small changes. Our guide sets out the main announcements in plain English, and what they could mean for families.
Freyr
John Healey’s first Budget aimed for breathing space rather than big surprises.
There’s real help with everyday costs, including a £100 energy payment for many households, an extended cut to VAT on electricity until July 2027 and a 3.9% rise in the living wage. To pay for it, the extra burden falls on savers, landlords and banks rather than on income tax, National Insurance or VAT.
Elsewhere, Business Relief, which can reduce the Inheritance Tax payable on qualifying business assets, was left alone. The £2.5m limit on 100% relief, in place since April 2026, is frozen until April 2031. After a year of change, that stability is the most important part of this Budget for estate planning.
Capital at risk. The value of your investment may go down as well as up, and you may not get back what you initially invested. HMRC may change the tax rules and regulations.
Business Relief rates and thresholds are subject to change and may differ between the time of investment and the time of death. Unlisted investments may be illiquid and difficult to sell. If sold, you may not receive the full value of the investment at the time of sale. Business Relief is assessed on a case-by-case basis by HMRC, who have the final decision on whether an investment qualifies for Business Relief purposes.
