{"id":7454,"date":"2025-11-04T14:49:46","date_gmt":"2025-11-04T14:49:46","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=7454"},"modified":"2025-11-04T16:55:29","modified_gmt":"2025-11-04T16:55:29","slug":"budget-outlook-preparing-for-change","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2025\/11\/04\/budget-outlook-preparing-for-change\/","title":{"rendered":"Budget outlook \u2013 preparing for change"},"content":{"rendered":"
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The Autumn Budget may bring tax changes affecting pensions, IHT, savings and investments <\/td>Speculation is high, but proactive planning can strengthen financial resilience ahead of announcements <\/td>Reviewing contributions, allowances and inheritance strategies ensures you\u2019re prepared for future changes <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n
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As the 26 November budget nears and speculation builds, it can be difficult to know whether to take action ahead of the Chancellor\u2019s announcements.<\/strong><\/p>\n<\/div>\n\n

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The National Institute of Economic and Social Research (NIESR) has forecast a \u00a341.2bn deficit by 2029\/30, suggesting the government may need to raise billions through tax increases, spending cuts or additional borrowing. To remain within fiscal rules, the think tank has advised a \u2018moderate but sustained increase in taxes, with substantial adjustments likely.<\/p>\n<\/div>\n\n

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Despite several think tanks suggesting otherwise, the government has so far been steadfast in its commitment to its manifesto promise not to raise taxes on working people, and the Chancellor recently reiterated this stance so it seems unlikely that changes to any headline rates of tax (such as Income Tax, National Insurance and VAT) will be made. However, revenue will need to be raised one way or another, so possible areas of focus could include changes to tax reliefs and thresholds such as those on pensions taxation, an extension to the freeze on Income Tax thresholds, or potentially further changes to Capital Gains Tax (CGT), IHT, Dividend Tax or business owner reliefs. <\/p>\n<\/div>\n\n

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Staying proactive<\/strong> <\/h2>\n<\/div>\n\n
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Ultimately, the rumours currently circulating are speculative, but there are still practical steps worth considering. You should look to seek professional financial advice where possible, and ensuring you do not make knee-jerk decisions based solely on rumour that could hinder your longer-term financial plans, will be vital. <\/p>\n<\/div>\n\n

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In addition, you should look to maximise the allowances currently on offer. This could include topping up your Individual Savings Accounts (ISAs), reviewing pension contributions, realizing  capital gains where appropriate and in line with your broader financial plans, and reassessing pension inheritance strategies given the upcoming changes to IHT treatment of unused funds. <\/p>\n<\/div>\n\n

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Whatever the Budget delivers, we can help review your financial plan. Taking stock now can ensure you are well prepared, with clarity on what may be worth addressing before the announcements \u2013 and how best to respond afterwards. <\/p>\n<\/div>\n\n

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It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored advice and is for guidance only. Some rules may vary in different parts of the UK.<\/em><\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The Autumn Budget may bring tax changes affecting pensions, IHT, savings and investments  Speculation is high, but proactive planning can strengthen financial resilience ahead of announcements  Reviewing contributions, allowances and inheritance strategies ensures you\u2019re prepared for future changes  As the 26 November budget nears and speculation builds, it can be difficult to know whether to take action ahead of the Chancellor\u2019s announcements. The National […]<\/p>\n","protected":false},"author":4,"featured_media":7456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,77],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/7454"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=7454"}],"version-history":[{"count":12,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/7454\/revisions"}],"predecessor-version":[{"id":7503,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/7454\/revisions\/7503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/7456"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=7454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=7454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=7454"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=7454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}