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Budget 2026

Our tax experts' reflections on the Budget

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Highlights

Real Assets

Rob Williams, Partner in WTS UK’s Real Assets practice, shares his most surprising moments from the Budget including the news that foreign sovereigns are to be bought into the charge of the UK
Foreign sovereigns to be bought into the charge of the UK
Rob Williams

Rob Williams

Partner

Banking

Fiscal shortages vs public demand - was the Chancellor right about the 6% surcharge on banks?
Fiscal shortages vs public demand - was the Chancellor right about the 6% surcharge on banks?
Christopher Austin

Christopher Austin

Partner

5 things CFOs need to know about the Autumn Budget

A Budget of certainty for CFOs: the 25% rate holds and little here will move the forecast 

  1. 25% corporation tax rate remains unchanged 

  2. Main rate writing down allowance (WDA) down from 14% to 12% from 1 April 2027 

  3. National Living Wage and National Minimum Wage up 3.9% from 1 April 2027 

  4. Suspensions on business tariffs to be extended to December 2028 

  5.  Mandatory VAT e-invoicing to be introduced from April 2029 

There will be relief that corporation tax is unchanged, and most other changes will have little impact for CFOs 

Rob Williams

Rob Williams

Partner

Tariffs

Brad Ashton, Partner in WTS UK’s Customs and Global Trade practice, reacts to the tariff suspensions announced in the Budget.
The suspension of tariffs on food - will it be passed down to consumers?

 

Brad Ashton

Brad Ashton

Partner

HR Directors

5 things HR Directors need to know about the Budget

A Budget of incremental change, with minimum pay levelling up.

  1. 3.9% increase on National Living Wage (to £ 13.21 per hour) and National Minimum Wage (to £11.27 per hour) from 1 April 2027 

  2. Increased tax-free mileage rates: 55p for the first 10,000 miles and 35p per mile for mileage above 10,000 miles 

  3. No changes to the rates and thresholds for personal income tax. 

  4. Salary sacrifice for pension contributions will be restricted to £2,000 a year from April 2029 

  5. Widened visa schemes attracting global talent to the UK across Graduate Visa, Global Talent Visa and High Potential Individual Visa 

The increasing minimum wage is likely to have a disproportionate impact on some sectors and requires closer monitoring of actual working hours on an individual basis. 

Nothing to do right now but be aware that there will be questions about the change to the salary sacrifice rules for pensions.