Red briefcase and finance newspaper on office desk

Budget 2025


The November 2025 Budget sets out the government’s latest plans for taxation, public spending, and economic priorities for the year ahead.

This Budget introduces a range of measures affecting individuals, businesses, and the wider economy, with changes aimed at supporting growth, improving public services, and responding to ongoing financial pressures.

This page summarises the key announcements and what they mean for individuals and businesses.

UK Budget red briefcase
Budget 2025 documents

The full Budget 2025 documents, including the 'red book'
A desk with calculator and budget papers, and two people either side
Budget 2025 tax related documents

A collection of tax related documents from the Budget 2025
Glasses resting on an open book
ATT Budget articles

Technical articles from the ATT in response to Budget measures
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ATT Budget Press Releases

ATT Press Releases issued on Budget matters

Read more of our reactions to the measures announced in the Budget

 

A man is staring at a white wall with a complex diagram of boxes all linked together in a confusing pattern. The man has his back to us and is wearing blue jeans with his hands on his hips.
Raft of Budget measures increases complexity

Press Release: today’s Budget adds further complexity to an already stretched tax system
letters MTD with clipboard and pen
Delaying MTD late fines a “sensible step”

Press Release: decision not to charge late filing penalties for taxpayers coming into MTD next year hailed as a “sensible step”.
Pink piggy bank with 'pension' written next to it
Pension salary sacrifice reforms risk confusion and complexity

Article written for AccountingWEB considering unintended consequences of changes to salary sacrifice arrangements for pensions. 
Electric car charging from a wall box
Is pay-per-mile pricing the end of the road?

Article written for AccountingWEB looking at the wider impact of a pay-per-mile charge for electric and plug-in hybrid cars.
Statue of Lady Justice in foreground, with smartly dressed woman working at a desk behind
Sweeping crackdown on promoters of tax avoidance schemes

Article written for AccountingWEB covering one of the most assertive expansions of HMRC’s powers in recent memory.
Paper aeroplane made of bank note resting on a bath sponge
MTD penalty ‘soft landing’ confirmed at 2025 Budget

Article written for AccountingWEB on the announcement of no late submission penalties in the first year of MTD, plus some small exemptions and deferrals. 
A farmer stands in a field of cattle, holding a small child and looking into the sunrise
Budget brings welcome easements to restrictions on IHT reliefs

Article written for AccountingWEB covering two welcome relaxations to the operation of IHT reliefs from April 2026, as called for by the ATT and others. 
digger in sand
Unexpected new dawn for capital allowances

Article written for AccountingWEB outlining unexpected changes to Writing Down Allowances, and a new First Year Allowance