Weds 4th November 2026
At the WBG breakfast meeting this morning, member David Meredith of Busbys Chartered Accountants delivered an insightful overview of the latest Autumn Budget. Speaking to fellow business owners in Tenterden, David set the macroeconomic scene: growth forecasts remain sluggish at just 1.2% this year and 1.1% next, while national debt has surged past £3 trillion. With annual debt interest payments climbing by £14 billion, government fiscal headroom has narrowed dramatically. The result is a policy pattern of “spending soon, tax later,” storing up notable revenue-raising measures for future years.
David guided the room through the core tax implications affecting local businesses, investors, and landlords. While headline personal allowances and income tax bands remain frozen through 2030/31 to drive fiscal drag, investment income faces targeted rises. From April 2026, dividend tax rates will increase by two percentage points, followed in April 2027 by substantial jumps in tax rates on savings interest and property income. Business owners planning an exit must also navigate a reduced Business Asset Disposal Relief cap of £500,000 alongside a new 10% Founders Relief, while unused pension funds will be brought into inheritance tax calculations from 2027.
On the operational side, David highlighted upcoming changes that employers and fleet operators should factor into future cash flow. These include a 3.9% increase across all National Minimum and Living Wage rates from April 2027, incremental rises in company car benefit-in-kind rates, and a welcome uplift in approved business mileage rates to 55p. Looking further ahead to 2028 and 2029, businesses will also see a new mileage-based Electric Vehicle Excise Duty, mandatory VAT e-invoicing, and major reforms to Self Assessment payments on account. For anyone seeking the full detail, figures, and timelines, David’s complete presentation slide deck is available to download below.
As always, if you want to make those tax worries low, Busbys is just the place to go!
