29/10/2026
Here are the key takeaways from yesterdayโs
The cash individual savings account (ISA) allowance - will remain at ยฃ20,000 from 6 April 2027, reversing the previously announced reduction for people aged under 65.
Tax rates on savings income - will increase to 24%, 44% and 49% from 6 April 2027 across the UK.
Tax rates on property income - will increase to 24%, 44% and 49% from 6 April 2027 in England, Wales and Northern Ireland.
The mileage rate - rise to 55p per mile for the first 10,000 miles has been made permanent, and the higher mileage rate will rise from 25p to 35p per mile from 6th April 2027.
Trading allowance - the tax-free allowance for individuals who make income from self-employment - will be tripled from ยฃ1k to ยฃ3k from 6th April 2027.
In England, the threshold for Small Business Rate Relief (SBRR) - increases from ยฃ12k to ยฃ18k for the retail, hospitality and leisure (RHL) sectors from April 2027, and business rates bills for RHL businesses will be frozen for two years.
National Living Wage and National Minimum Wage โ On 1 April 2027, the National Living Wage will increase by 3.9% to ยฃ13.21 per hour; the National Minimum Wage will increase by 3.9% to ยฃ11.27 per hour for 18 to 20-year-olds and by 3.9% to ยฃ8.31 per hour for 16 to 17-year-olds and eligible apprentices; and the accommodation offset will rise by 3.9% to ยฃ11.53 per day.
Business rates: relief for pubs, social clubs and live music venues โ The government is increasing the relief for pubs, social clubs and all but the very largest live music venues in England by 20ppt, from 15% to 35% from 1 April 2027.
Red diesel rate for fuel duty 2027-28 โ The government will extend the temporary 3.7p-per-litre red diesel duty cut for a further six months, along with the proportional reduction in red diesel duty resulting from the 5p cut to the main fuel duty rate. Red diesel duty will then return to its pre-March 2022 rate and be uprated in line with RPI from 1 July 2027.
Alcohol duty โ The government will increase alcohol duty rates in line with RPI to maintain its real terms value. The government will also increase the relative value of Small Producer Relief compared to the main rates, by moving to a more generous discount taper for products under 3.5% ABV and uprating the marginal discount for products between 3.5% and 8.4% ABV by RPI plus an additional 10%. These changes will be implemented from 1 February 2027.
Tariff Suspension Packages: Suspend tariffs on 135 food products from 21 June 2026 until 31 December 2028; 101 food products and kerosene for heating oil from 26 November 2026 until 31 December 2028; and fertiliser from 26 November 2026 until 31 December 2027
