28/10/2026
The Chancellor stood up for just over an hour at lunchtime. None of the major taxes were changed, no changes to personal allowance, tax on PAYE, VAT, Corporation Tax or pensions.
Landlords will feel they are again being targeted with further property/savings tax rises. Help for some high street businesses in the form of business rates relief increases.
Energy-Gas standing charges abolished and 20m households in council tax bands A to D will receive a £100 energy payment
Mileage -The increased 55p rate will remain and the higher annual mileage rate will increase to 35p
On paternity leave, self-employed fathers will be eligible for paternity leave pay for the first time
For retail, hospitality, leisure small business rate relief increase from £12,000 to £18,000
Cash ISA cut reversed, Cash ISA to remain at £20k limit
Business Asset Disposal Relief (sale of company shares) cut from £1m to £500k
New Founder's relief for companies 10% up to £10m
Self assessment will from 2029 be collected at the time, likely meaning quarterly payments based on MTD
New first time buyer scheme replacing LISA, and a new equity loan scheme for FT buyers
Tax rise on property and savings rates from April 27, a further 2% tax, dividend tax unaffected
National Minimum wage to rise 3.9%, but the 18-20 rate will not close the gap to the main rate, but increase by the same.
An intention to see company owners "pay tax on what they earn" which may be targeting director loans.
