Autumn Budget 2025
Autumn Budget 2025: what you need to know
Prepare for the Autumn Budget with our tips for success.
Read our latest insight and analysis of Budget rumours.
Find out how any changes could impact your investments, pensions and savings.
Important information: investing for 5+ years increases your chances of positive returns compared to cash savings. But investments rise and fall in value, so you could get back less than you put in. Tax benefits depend on your circumstances and rules could change in the Budget. Once held in a pension, money isn’t usually accessible until age 55 (57 from 2028). This isn’t personal advice. If you’re not sure what’s right for you, ask for advice.
Important information: investing for 5+ years increases your chances of positive returns compared to cash savings. But investments rise and fall in value, so you could get back less than you put in. Tax benefits depend on your circumstances and rules could change in the Budget. Once held in a pension, money isn’t usually accessible until age 55 (57 from 2028). This isn’t personal advice. If you’re not sure what’s right for you, ask for advice.
Get ready for the Autumn Budget
Chancellor Rachel Reeves will deliver Labour’s latest Budget on Wednesday 26 November. With tax rises expected, make sure you’re ready in advance with our tips for success.
Think ahead
Avoid kneejerk decisions that you might regret later.
Talk it through
If you’re not sure what’s right for you, talk to people you trust or an expert adviser.
Time to take advantage of your ISA and pension allowances?
HL Stocks and Shares ISA
Invest up to £20,000 each tax year and you could get inflation busting, tax-free growth with your pick of ISA investments.
HL Cash ISA
Save up to £20,000 each tax year and get tax-free interest.
Pick, mix and switch between great rates from multiple banks.
HL Self-Invested Personal Pension
Pay in up £60,000 each tax year and enjoy 20-48% tax relief on qualifying contributions.
Filter through the noise
"As Budget rumours start to swirl, let us filter through the noise, so you can focus on what matters to you.
My team and I will be keeping a look out for how any changes could impact your investments, pensions and savings."
- Emma Wall, Chief Investment Strategist
Ahead of November’s Autumn Budget, we can be certain of one thing. Chancellor Rachel Reeves will be looking to raise money. Emma Wall, Chief Investment Strategist, explains what you need to know.
Autumn Budget: latest news and views
Stay informed with our analysis of Budget implications, speculation and rumours. See all HL updates on the Budget
Podcast: Autumn Budget rumours
From tax hikes to potential ISA rule changes and pension tax tweaks, Sarah Coles and Helen Morrissey break down the latest Budget rumours and what they could mean for your finances.
FAQs
Common questions ahead of the Autumn Budget.
Chancellor Rachel Reeves will deliver Labour’s latest Budget on Wednesday 26 November.
The ISA allowance this tax year is £20,000.
You're free to split your ISA allowance any way you like across Stocks and Shares ISAs, Cash ISAs, a Lifetime ISA (maximum of £4,000) and Innovative Finance ISAs, as long as you stay within the overall limit.
For example, you could put £5,000 in a Cash ISA, £4,000 in a Lifetime ISA and the remaining £11,000 in a Stocks and Shares ISA.
The allowance is smaller for Junior ISAs. The limit this tax year is £9,000.
The tax year runs from 6 April to 5 April, and the deadline for adding money is midnight 5 April.
Capital Gains Tax (CGT) is a tax that can be due when you sell something that’s increased in value, or you transfer it outside of your estate, e.g. to another person or into a trust. It can apply when selling or transferring lots of different assets, like shares or property. It’s only the gain in value that may be subject to tax, not the total value of the asset.
CGT has a different tax rate depending upon whether it applies to business assets or non-business assets.
Annual capital gains tax allowance: £3,000 (2025/26)
Gains which when added to taxable income fall in the UK basic rate tax band - 18%
Gains which when added to taxable income fall in the UK higher or UK additional rate tax band - 24%
Every UK resident under 75 qualifies for basic-rate (20%) tax relief on pension contributions, even children and other non-taxpayers. You can usually add whichever's highest out of the amount you earn, or £3,600, and receive tax relief each year. There is also an annual allowance (£60,000 for most people) which limits what you can pay in. Each contribution includes what you pay in, any employer contributions, as well as what the government adds in tax relief.
This basic-rate tax relief is added to your pension automatically. Your pension provider claims it for you from the government and adds it to your pension.
If you pay higher-rate tax (40%) you can claim up to a further 20% in tax relief through your tax return or local tax office.
Top-rate taxpayers (45%) can claim back up to a further 25%. You must pay enough tax at the relevant rate to claim back the full amount.
If you’re a Scottish taxpayer the amount of tax relief you can claim is different. Take a look at our information on the Scottish income tax changes page.
Tax rules can change over time and the relief you receive depends on your circumstances.