Budget 2025 key announcements
Here’s a summary of the budget 2025 key announcements from Rachel Reeves’ 2025 Autumn Budget — what was announced, what it could mean for individuals and businesses.
The team here at RPGCC will now be looking at the detail and preparing our PDF budget report which will be available to download tomorrow. We invite you to join us at our free webinar on 28 November, you can register to join us here
- National Insurance (NI) and income tax thresholds will be frozen for an extra three years beyond 2028
- The amount under-65s can put into cash Isas will be capped at £12,000 a year from April 2027, with the rest of the £20,000 allowance reserved for investments
- The two-child benefit cap will be scrapped from April 2026
- The chancellor will “more than double” the headroom against her stability rule to £21.7bn
- The OBR is reducing expectations for productivity growth by 0.3 percentage points to 1%
- “Mansion tax” charges will see properties worth more than £2m charged £2,500 annually, and properties worth more than £5m charged £7,500
- A cap will be introduced for pension salary sacrifice schemes from 2029 – with contributions above £2,000 subject to tax in the same way as other employee pension contributions
- A new electric vehicle excise duty will amount to 3p per mile for electric cars and 1.5p for plug-in hybrids
- Specific funding is being set aside for devolved governments, while Reeves said she is also putting money back in the hands of local and regional leaders
- Gambling tax rises will see remote gaming duty raised from 21% to 40%
- £5m will be dedicated to secondary school libraries and another £18m for improving and upgrading playgrounds across England
- Infected blood compensation will be made exempt from inheritance tax
- Training for under-25s on apprenticeships will be made free for small and medium-sized enterprises
- Reforms to the Motability scheme will remove luxury vehicles
Given the scale, complexity and breadth of the changes — from personal tax to corporate asset-heavy sectors — many businesses and individuals will need tailored guidance and planning advice.
At RPGCC, our team is ready to help clients:
- Interpret what the new rules mean for their business or personal finances
- Reassess investment, pension, and savings strategies
- Navigate tax-efficient exits, restructurings, or wealth-preservation measures
- Stay compliant with rapidly evolving capital-gain, trust, and property-tax rules
Register to join us at our free webinar on 28 November, here
