26/11/2025
Key highlights from the Budget:
No changes to capital gains tax (CGT) or inheritance tax (IHT) rates, SDLT, or Principal Private Residence relief.
Corporation tax remains at 25%, the lowest in the G7.
No new wealth tax, exit tax, or National Insurance contributions (NICs) on LLP partners.
UK’s competitive corporate tax regime remains intact.
1. Personal tax and allowances
Income tax bands and allowances frozen until April 2031 – top rate stays at 45%.
IHT nil-rate bands and the £1m agricultural property relief (APR) and business property relief (BPR) allowance remain unchanged until April 2031.
2. Property and investment income
From April 2026: dividend tax rises by 2 percentage points for basic and higher rates (additional rate unchanged).
From April 2027:
Property and savings income tax rates:
Basic: 22%
Higher: 42%
Additional: 47%
Finance cost relief for landlords aligns to the new 22% basic rate.
