The Chancellor of the Exchequer Rachel Reeves presented her
Autumn Budget to Parliament on Wednesday 26 November 2025, some key
tax changes are below:
Income tax and National Insurance
The income tax burden will continue to increase for many of the
UK population. The frozen income tax personal allowance, as well as
the thresholds for the higher and additional rate tax, will now
remain same until the 2030/31 tax year rather than 2027/28 as
previously indicated. This results in a higher tax burden
increase even though rates of tax remain the same.
Inheritance tax and capital gains tax (CGT)
The existing ABR/BPR IHT relief policy has been modified with
regard to the new Agricultural and Business Property Relief
£1 million allowance. From April 2026, 100% ABR/BPR IHT
relief will be transferable between spouses, thereby enabling
married farmers to transfer up to £2 million to their
children.
