Autumn Budget countdown – should you be taking action now?

We are 22 days out from the Autumn Budget on 26^th November 2025, and speculation is already at fever pitch!

Amongst the many areas being speculated on are: Pension Lump Sum Allowance (tax-free cash), ISA allowances, Income Tax for non-earned income, and National Insurance for LLPs.

I spend most of my working week talking to clients, and the range of reactions and feelings is widely and wildly varied. Naturally, some people want to spring into action and implement huge changes in ahead of the Budget, while others are more comfortable sitting still and waiting to see.

The UK's obsession with bad news allows the multitude of media, press and social media outlets to fan the flames, and before we know it, we have ‘the nightmare before Christmas budget’.

So, what do I tell my clients? Sadly, there is no ‘silver bullet’, but there is a middle ground between ‘do everything’ and ‘do nothing’.

Firstly, we are still navigating the significant changes that were proposed 12 months ago, and that in itself is a lesson. Even when radical changes are proposed by a chancellor and their team, it takes time for the idea to become policy and for the policy to become legislation.

It is not impossible for changes to be immediate, but it is unlikely. Making a big change has lots of small impacts or ripples that take time to implement. For example, we are only just getting details now of how pensions will interact with Inheritance Tax from 6^th April 2027.

Secondly, no two situations are the same. We each need to have a financial plan that is geared towards our own objectives and tolerances. There are lots of planning opportunities and tools available, but they need to be applied at the correct time to the correct situation.

Thirdly, change is the constant. We will focus our time and energy on the changes imposed by governments and treasuries, but we also need to reflect on our own needs changing. Our personal needs, the needs of our families, the needs of our business and employees.

So, what is my advice?

Don’t panic, seek advice. We are living through a fascinating time where AI is a key ‘hot topic’ and rightly so. The advancement in both AI and technology is fantastic in that it allows us to deliver advice outcomes in more efficient ways. The key benefit to this, in my opinion, is that our advisers will have more time to spend with you; there is no substitute for personalised advice that is revisited and reviewed on a regular basis.

We are in a period of fiscal and tax change, but we can navigate that with you through bespoke and personalised advice.

Armstrong Watson is hosting a live webinar the day after Rachel Reeves makes her statement to the commons. Join us to hear from our specialists in tax, financial services and accounting who will be examining the announcements and their impact. To register please visit armstrongwatson.info/budget.