How Will Autumn Budget 2026 Impact You and Your Business?

Here are some of the key highlights from the Autumn Budget 2026 that may affect you and your business as well as your full guide.

How Will Autumn Budget 2026 Impact You and Your Business?

For individuals

The changes impacting individuals include a significant increase of income tax rates on rental and savings income from April 2027 whilst Capital Gains Tax reliefs included a few changes. The Budget included announcements to encourage savers as well as support for households with energy costs and more.

The new pension allowance tax is intended to help pensioners with only state pension but may prove confusing for some.

For business

The changes impacting businesses included further business rates relief for the hospitality sector, whilst extending the relief to other high street businesses and increasing the limit. The Budget included a reduction in the main rate for capital allowances, and an increase in the trading allowance for small businesses.

Company cars and fuel

There were several changes to company cars and fuel, including:

  • Appropriate percentages for zero emission and electric vehicles will increase by 2% per tax year in 2028/29 and 2029/30, rising to an appropriate percentage of 9% in tax year 2029/30 and 10% in 2030/31.
  • Appropriate percentages for all cars with emissions of 1 to 50g of CO2 per kilometre, including hybrid vehicles, will rise to 18% in tax year 2028/29 and 19% in tax year 2029/30.   
  • Appropriate percentages for all other vehicle bands will increase by 1% percentage point per year in tax years 2028/29 and 2029/30. This will be to a maximum appropriate percentage of 38% for tax year 2028/29 and 39% for tax year 2029/30 and 40% in 2030/31.  
  • Electric and plug-in hybrid: An electric Vehicle Excise Duty (eVED) will come into effect from April 2028 for electric and plug-in hybrid cars. The rate of tax will be 3 pence per mile for fully electric cars and 1.5p per mile for plugin hybrid cars.
  • Approved mileage allowance payments: The tax-free mileage rate for individuals who drive for work using their own vehicle is to increase to 35p per mile for business mileage in excess of 10,000 miles. The rate for the first 10,000 business mile will remain at 55p per mile.

Other key changes

  • Small companies and micro-entities won’t have to file profit and loss (P&L) accounts with Companies House from April 2028 as originally planned.
  • From 1 April 2029, the Government will require that VAT invoices are issued as e-invoices.
  • Changes to the Minimum Wage.

Download your Guide to the 2026 Autumn Budget

For more information on the above and full details of the key Budget announcements, download our free Guide here.

Need further advice?

There are lots of opportunities and issues to consider following this Budget for businesses, individuals and families. We’re here ready to help.

We believe it’s important to discuss all plans you’re considering before taking any action. If you’d like to see how the 2026 Autumn Budget changes might affect you, your family and your business, please get in touch with us on 01603 812131 or email enquire@swintonaccountants.co.uk