What Could the Autumn Budget Mean for Business Owners?

With the Autumn Budget due on 28 October, speculation continues about how the Government will balance the need to raise revenue while supporting economic growth. Recent announcements have provided some clarity on what is unlikely to appear, although several questions remain unanswered.

One of the most significant developments is the Chancellor’s reported decision not to increase Capital Gains Tax. Earlier speculation suggested rates could be aligned more closely with Income Tax, but this now appears to be off the table as ministers focus on encouraging investment and business growth.

Business owners will instead be watching closely for any measures affecting business taxation, pensions, inheritance tax planning, and employment costs. The Government continues to face pressure to strengthen public finances while funding spending commitments, which means tax-raising measures elsewhere remain a possibility.

There is also increasing focus on longer-term tax changes that have already been announced, including the planned inclusion of unused pension funds within estates for Inheritance Tax purposes from April 2027. For many individuals and business owners, this could lead to a review of existing retirement and succession plans.

While the Budget is unlikely to contain the dramatic tax changes that were previously feared, it may still include measures that affect business cash flow, investment decisions, and personal tax planning.

Sean Farnell, Partner at Burgis & Bullock, commented: “Much of the speculation surrounding Capital Gains Tax appears to have subsided, which will come as welcome news to many business owners and investors. However, the Budget is likely to contain other measures that could affect both businesses and individuals. Now is a good time to review your tax and financial plans and ensure you are prepared for any changes that may be announced.”

We will provide a full summary and analysis following the Chancellor’s statement on 28 October, highlighting the key points that matter to our clients.

If you would like to discuss how the Budget could affect you or your business, please contact your local Burgis & Bullock office. www.burgisbullock.com/contact-us/