Pre 2025 Autumn Budget Update

As last year’s Budget approached, the government spoke about the need to plug a “£22 billion black hole” in the public finances. We now have a date for the Autumn Budget 2025, and the deficit this time around is reportedly even larger.

When 26 November arrives, it’s reported that Rachel Reeves will be hoping to find between £20 and £50 billion. And she’ll want to do so while maintaining her party’s promise not to increase taxes on “working people”, specifically, Income Tax, National Insurance, and VAT.

The longer wait for this year’s Budget means even more time for speculation and rumour, which we know can be unnerving, unsettling, and often, downright unhelpful.

That’s why we’re writing to you now – to provide reassurance that we’re in your corner, to explain why staying calm is key, and to let you know how we plan to keep you up to date on Budget day itself.

Keep reading to find out more.

We’re in your corner, so stay calm and avoid emotional decision-making

You’ve likely seen alarming Budget headlines already. Rumours abound regarding potential changes to tax rates, pension tax-free lump sums (again), pensions, and ISA thresholds, as well as new taxes aimed at the wealthy and at landlords.

But these are only rumours, and acting on rumour alone is dangerous. We saw this just last year when speculation about tax-free pension lump sums saw a pre-Budget dash to cash out. The rumoured changes didn’t occur, and many were left regretting their hasty decision.

It’s impossible to make Budget recommendations before the big day, so we won’t. Instead, we’d suggest staying calm for now, and avoiding knee-jerk reactions based on headlines alone.

However, should you have concerns and want to discuss them, our door is always open. Simply contact us in the usual way and we’ll be very happy to chat.

The details of the Budget will only become clear when the chancellor stands at the despatch box on 26 November. From that point on, we’ll be able to provide specific insights into how any changes could affect you.

We’ll keep you up to date with all Budget announcements and explain what they might mean for you

We’re in your corner, and we want to keep you informed while providing peace of mind.

Our team will be watching the Budget keenly, and you’ll receive an update from us on the afternoon of 26 November outlining the key takeaways from the chancellor’s speech and, where possible, the likely effects of any changes.

We’ll also be on hand to answer your questions.

Remember, your long-term plans are designed to withstand economic turbulence and evolving regulation. If your goals and aspirations haven’t changed, it’s unlikely you’ll need to change your plans.

That said, if any aspect of the Budget announcement causes you concern, get in touch.