Autumn Budget 2026: When is it and what to expect

The Autumn Budget is the main opportunity the new Government has to make changes to tax and spending.

After being appointed Chancellor of the Exchequer only a couple of weeks ago, John Healey got straight to work in setting a date for his first Autumn Budget - which he has confirmed will take place in late October.

Speaking in a video message published on HM Treasury’s social media channels last week, Healey said that the Government “is working fast to restore hope and back Britain’s communities” under the new leadership of Prime Minister Andy Burnham.

He explained that he will deliver a Budget “that moves money and power out of Westminster, and into every postcode around Britain”, adding that “it’ll give businesses and families some of the stability they need to plan for the future”.

What should you expect?

The Autumn Budget is an opportunity for the Chancellor of the Exchequer to update Parliament on the latest economic forecasts, as well as the Government's plans for tax and spending.

While it’s still unknown what measures Healey might pursue in his first Budget, consumers must brace themselves for the impact of changes from previous fiscal announcements that have yet to take effect.

ISA reform

For instance, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk warned that “an array of changes is set to confuse savers next year”. From 6 April 2027, under-65s will only be able to stash up to £12,000 into cash ISAs each tax-year (instead of £20,000 currently) and won't be allowed to transfer from a stocks and shares ISA to a cash ISA. What's more, a 22% charge will apply to uninvested cash held within a stocks and shares ISA, and savers will no longer be able to hold 100% of their portfolio in money market funds.

“There have [also] been discussions about creating a new ISA aimed at first-time buyers,” Springall added. But, while “this might help those looking to start saving for a home”, she said “it would be beneficial to allow savers to temporarily access funds in their existing Lifetime ISA, without penalty”.

“The house purchase cap on LISAs has not kept up with the changing times, so while the product launched with good intentions in 2017, it is no longer fit for purpose for every single borrower across the country due to property prices rising over the past decade,” Springall explained.

Taxation

Another key talking point over the next few months is likely to be taxation. “Even without additional reforms, existing plans are going to transform estate planning,” said Springall, referring to the inclusion of unused pension pots as part of a person’s estate for the purposes of inheritance tax (IHT) from the 2027/28 tax-year.

Meanwhile, a High Value Council Tax Surcharge (also known as a ‘mansion tax’) is expected to hit properties worth over £2 million from April 2028. “These moves are making it even more essential for consumers to seek advice to ensure their tax and estate planning is all in order,” Springall continued.

But, even though it’s possible the new Government could review existing pledges, the Chancellor of the Exchequer has already committed to building a Budget based on fiscal discipline and will have the difficult task of making sure the books are balanced.