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The Autumn Budget 2025
Chancellor of the Exchequer Rachel Reeves set out tax-raising measures worth up to £26 billion in the Autumn Budget on 26 November 2025.
The increases will be achieved through a range of measures, including extending the freeze on Income Tax thresholds for a further three years.
In addition to maintaining Income Tax thresholds, taxes on property, dividend and saving income will be increased.
The Budget also announced employee and employer National Insurance contributions (NICs) on salary sacrifice pension contributions above £2,000 a year and introduced a tax on homes valued at £2 million or more.
On spending, Ms Reeves took action to cut energy bills, freeze rail fares and end the two-child benefit cap.
Ms Reeves said:
‘I can tell you today that, for every family we are keeping our promise to get energy bills down and cut the cost of living with £150 taken off the average household energy bill from April.
‘Money off bills, and in the pockets of working people. That is my choice.’
Read our Autumn Budget 2025 Summary for our key take aways.
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Explore our blog posts covering Budget announcements from past years, providing insights and key takeaways.
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CGT higher rate on dwellings reduced
The higher rate of capital gains tax (CGT) for residential property disposals will be cut from 28% to 24% from 6 April 2024.
Multiple dwellings relief for SDLT scrapped
The Chancellor announced in the Budget that Multiple dwellings relief (MDR) will be abolished for transactions which complete, or which substantially perform, on or after 1 June 2024.
High income child benefit charge threshold increased
The threshold for earnings above which you have to pay back some or all of your child benefit will be increased from 6 April 2024.
Two new products for UK savers
Two new savings products have been announced, aimed at supporting growth of UK companies and encouraging a culture of saving.
Non-dom reforms
The remittance basis tax relief offered to non-UK domiciled individuals (non-doms) will be removed and replaced with a simpler residence-based regime from 6 April 2025.
Furnished holiday lets relief to be scrapped
Owners of furnished holiday lets will lose their entitlement to favourable income tax, capital gains tax and capital allowances as the FHL scheme is abolished.
VAT registration threshold raised
Effective from 1 April 2024, the taxable turnover above which a business is required to register and account for VAT will be increased from £85,000 to £90,000.
National insurance rates cut again
The headline news from the Spring Budget was further cuts to national insurance contributions (NIC) of 2% each for self-employed taxpayers and employees.
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