When John Healey delivers his first Budget as Chancellor, it will be a significant moment for UK fiscal policy, as he sets out the new leadership team’s economic priorities. This blog explores what Autumn Budget 2026 could mean for individuals and businesses, and how accountants in practice can be ready to support their clients.

If you are an accountant or tax advisor who wants to provide your clients with practical guidance on the implications of the Budget announcements, why not use 20:20 Innovation’s branded Budget analysis. For comprehensive Budget coverage and year-round tax updates, subscribe to rossmartin.co.uk and unlock exclusive guides, analysis and practical resources.

When will the Chancellor deliver the 2026 Budget?

Autumn Budget 2026 will be presented on Wednesday 28 October.

What could Autumn Budget 2026 mean for individuals, businesses and their accountants?

When announcing the Budget date, the Chancellor said that the Budget will ‘move money and power out of Westminster, and into every postcode around Britain’.

The Chancellor stressed that the government would continue to meet its fiscal rules, adding that the Budget would provide businesses and families with the stability they need to plan for the future.

The new leadership team has already made some early moves, including a 20% reduction in business rates for pubs, clubs and live music venues for 2027-28, and a reduction in VAT on household energy bills.

Together, these measures suggest a government that is keen to be seen supporting high streets and local economies, while raising revenue elsewhere.

Autumn Budget 2026: What are the predictions?

As always, nothing is certain until Budget Day, and no one should make major financial decisions on the strength of speculation. That said, here are a few predictions from our tax team.

Income Tax, National Insurance and VAT rates

Direct increases to the headline rates for taxpayers remain unlikely since the Prime Minister has confirmed he will stick to the promises made in Labour’s manifesto at the last general election. However, as we saw at Autumn Budget 2025 other taxes remain fair game.

The personal allowance

Andy Burnham has indicated that the frozen personal allowance would be reviewed at the next Budget. However, unfreezing the allowance would come at a cost and may need to be funded through tax rises elsewhere.

Rather than entirely unfreezing the personal allowance, we could perhaps see a one-off increase while the higher rate threshold remains at £50,270.

Like fashion, tax does tend to go in circles, so another possibility could be the reintroduction of an age-related personal allowance for those over State Pension age. This would help to deliver on the government’s previous promise that pensioners whose only taxable income is the State Pension will not pay tax.

Capital Gains Tax (CGT)

Although there has been speculation about aligning CGT rates with Income Tax, sharp increases could reduce tax receipts by discouraging investors from disposing of assets.

A modest increase is possible though, with some predicting that a single 24% CGT rate will be introduced.

Mileage and scale rates

In May 2026, the Approved Mileage Allowance Payment (AMAP) rate for use of own cars and vans was increased for the first time in 15 years and backdated to 6 April 2026.

At the time, the government said that it would review AMAP rates and set out changes at a future budget. That suggests we could see uplifted rates for mileage over 10,000 miles, passenger payments, motorbikes and bikes on 28 October.

Enhanced reporting for close companies

The government has already proposed new rules that would make the reporting of transactions between close companies and their participators mandatory. HMRC consider transactions between close companies and their owners to carry a higher risk of error and evasion. That makes it likely that this will be taken forward in Budget 2026.

VAT and other business taxes

In addition to the 20% business rates reduction for pubs, clubs and live music venues, and with food and energy prices continuing to rise, the Budget could provide further support for hospitality businesses. This might include further business rates cuts or a VAT reduction, whether temporary or permanent.

Social care levy

In July 2026, Andy Burnham raised the subject of reforming adult social care, an issue he has been interested in since his time serving as Health Secretary. His immediate priority seems to be to squeeze more out of existing budgets, however a fuller overhaul looks to be on the cards.

Reform could involve a contributory model where everyone pays in a little, so that people don’t have to sell their homes to pay for care. Some have even suggested a social care levy could replace Inheritance Tax.

Baroness Casey’s review of social care - originally scheduled for 2028 - has been brought forward to summer 2027. This suggests major reform is more likely after that review than in Autumn Budget 2026. However, the Chancellor could introduce the idea or set out a framework for reform.

Compliance

New rules were proposed at Spring Statement 2025 that would extend HMRC’s powers to allow them to recover lower-value tax debts directly from taxpayers’ bank accounts. The consultation on this ended in August 2026, and further details seem likely to come in Budget 2026.

Taxing wealth

Because work is generally taxed more heavily than wealth, speculation continues about whether Budget 2026 will include measures that target wealth. Exactly how that would work is hotly debated, but some ideas that have not already been covered above could include:

• Replacing Stamp Duty Land Tax (SDLT) and Council Tax with a new Land Value Tax.
• Removing the CGT free uplift on assets that happens on death.
• Abolishing the Residence Nil Rate Band (RNRB), perhaps with an increase to Nil Rate Band (NRB) to partly compensate.

The takeaway?

Despite a new leadership team, Autumn Budget 2026 could feel familiar: threshold and relief tinkering together with targeted taxes on wealth and savings, rather than headline rate rises.

For many clients, the impact may not be obvious in any single year but could build steadily over time. Understanding both the Budget measures and their practical implications will be key to protecting income and wealth.

Helping clients navigate Budget changes with confidence

A Budget delivered by an untested Chancellor, under a new Prime Minister, against a backdrop of genuine policy uncertainty, is a moment when clients will be looking for reassurance and a plan, not just a summary of what changed.

The firms that gain the most value from Budget announcements are those that communicate quickly, identify which clients are most affected and provide practical guidance tailored to their circumstances.

20:20 Innovation offers two straightforward ways to help you make the most of the opportunities created by Budget 2026.

1. Branded client newsletter

Designed specifically for accountancy firms, our Budget PDF provides you with a fast and professional way to explain Budget announcements to your clients.

Customised with your firm’s branding and built around client personas, it enables you to update your clients in a clear and authoritative way within hours of the Budget being presented.

Order your Branded Budget PDF today

2. Budget Update CPD Webinar

Available live and on demand, our Budget update webinar is tailored for UK accountants in practice. It will equip you and your team with the knowledge and confidence you need to have effective conversations with your clients.

The session will cover:

• The main tax measures announced in the Budget.
• What the changes mean in practice.
• The planning opportunities and priority actions your clients need to take.

Book your places today

Get ready for Budget 2026 with practical resources, expert insight and actionable strategies that will help you support clients from day one.

The contents of this blog are budget predictions. Those predictions are speculative and judgmental. Budget content will only become certain on Budget Day. 20:20 Innovation cannot be held responsible for action taken or not taken as a result of this blog.