The short version: The Autumn Budget is when the Chancellor stands up in Parliament and announces changes to taxes, spending, and anything else that affects your money. It usually happens in October or November.
Why should I care?
Because it can change what you pay in tax, what you can claim, and what reliefs are available. Recent budgets have changed Capital Gains Tax rates, dividend allowances, pension rules, and more.
If you’re self employed or running a business, it’s worth paying attention. We usually put together a summary of anything that affects our clients after each one.
Is there another one?
Yes. The Spring Statement (usually in March) is the other big announcement. Between the two, they cover most tax changes for the year.
What’s with the red briefcase?
Tradition. The Chancellor carries their speech to Parliament in a red leather box called the budget box. It’s been a thing for over 150 years. The word budget actually comes from the French for little bag. Now you know.
Want to know how the latest budget affects you? Drop us a line and we’ll break it down.
