The government has confirmed that Chancellor John Healey will deliver his first Budget on Wednesday 28 October 2026. While the contents remain unknown, the announcement marks the start of a period when speculation around potential tax changes is likely to increase.
For businesses, business owners and private clients, the Budget provides a reminder and an opportunity to review existing plans and consider whether any action may be appropriate before any changes are introduced. Although there has been considerable discussion around areas such as Capital Gains Tax, Inheritance Tax and wider property taxation, no changes have been announced, and it remains important not to make decisions based on speculation alone.
Nicholas Smith, Head of Tax at Duncan & Toplis, said: "With the Budget now less than three months away, we can expect increasing speculation about possible tax changes. While it's impossible to predict exactly what the Chancellor will announce, this is an ideal time for businesses and individuals to review their affairs and consider whether any existing plans should be revisited.
"There has already been considerable discussion around potential reforms to areas such as property taxation, Capital Gains Tax and Inheritance Tax. At this stage, however, these remain speculative, and it is important not to react to headlines or rumours.
“What we do know, from Mr Healey’s first speech to his new Treasury team, is that he announced five priorities. Fiscal discipline, growth in every postcode, backing Britain, wealth creation, and making life more affordable. He repeated these when announcing the Budget date at the end of last week.
"The best approach is to stay informed, review your position regularly and seek professional advice where appropriate. Good tax planning is based on your long-term objectives and gives you the flexibility to respond as the tax landscape evolves."
As with every Budget, the detail will be far more important than the headlines. Any changes announced could affect investment decisions, business structures, succession planning and personal finances, making early conversations with your adviser particularly valuable in the weeks leading up to the Chancellor's statement.
Following Budget Day, Duncan & Toplis will publish a comprehensive summary of the key announcements, explaining what they mean for businesses, business owners and private clients in clear, practical terms. Our tax specialists will also provide expert analysis and commentary on the measures most likely to affect our clients, helping you understand not only what has changed, but what action, if any, you should consider taking.
Over the coming weeks, we'll also be sharing details of our Autumn Budget programme, including planned communications, events and analysis to help keep you informed before and after the Chancellor's statement. If you would like to discuss your circumstances ahead of the Budget, please speak to Nicholas Smith or your usual Duncan & Toplis contact.
