The Chancellor will deliver the 2025 UK Budget on Wednesday 26 November.
While the full details won’t be known until the day, past Budgets give us a good sense of what may change and what this could mean for pensions, tax, National Insurance and family finances.
This page will be updated live on Budget day with the confirmed announcements. For now, here’s what to watch for and how different areas of your finances might be affected.
Important: This page provides general information only, not personal financial advice. If you’d like help understanding how the Budget may affect your situation, we can connect you with an FCA-regulated adviser for personalised guidance.
When Is the 2025 Budget?
The next Budget will take place on:
📅 Wednesday 26 November 2025
🕒 Time usually around 12:30pm
Most financial rules and tax changes apply from the new tax year in April 2026, but some may begin immediately.
What to watch for in Budget 2025?
Many people are focused on how the Budget could impact pensions, tax, National Insurance and family wealth. At this stage, nothing is confirmed, but these areas are commonly reviewed by the Chancellor. This page will be updated live on Budget day with a clear summary of the confirmed changes. Below is an overview of the areas people are most concerned about ahead of the Budget.
These are not predictions or advice, simply the topics most likely to receive attention.
Pension Tax & Contributions
What can the 2025 budget mean for your pension tax & contributions?
Pension tax rules often feature in the Budget, and changes can affect how much people can save tax-efficiently each year. The key areas to watch in 2025 include:
- annual allowance rules
- carry-forward eligibility
- the Lifetime Allowance replacement
- tax relief for higher earners
- employer contribution limits
Even small changes here can affect how much you’re able to save tax-efficiently.
Inheritance Tax & Wealth transfer
What could the 2025 budget mean for Inheritance Tax & wealth transfer?
Budgets rarely overhaul Inheritance Tax, but they often include new guidance or adjustments that influence gifting rules, allowances and estate planning. Many families pay close attention to thresholds, the Residence Nil Rate Band and how pensions interact with Inheritance Tax.
- gifting rules
- allowances
- thresholds
- Residence Nil Rate Band guidance
- treatment of certain assets
These updates can be important for families planning ahead.
National Insurance & Income Tax
What could the 2025 budget mean for National Insurance & Income Tax?
National Insurance and income tax thresholds are reviewed frequently in Budget announcements and may affect your take home pay. Changes in these areas can influence workers, the self-employed and retirees differently. Until the Chancellor speaks, we can only outline what usually shifts:
- employee National Insurance
- self-employed NI
- frozen or adjusted income tax bands
- the personal allowance
Any movements here could impact your take-home pay from April 2026.
How to prepare for the 2025 budget?
You don’t need to take any action before the Budget, but it can help to understand your current tax band, pension contributions and allowances. This makes it easier to follow the announcements on the day.
Understanding your pension, tax position or long-term plans is important but the rules can be complicated, and what’s right for one person may not be right for someone else.
That’s why many people choose to speak with a regulated financial adviser alongside reading general information online.
A qualified adviser can help you:
- understand how financial rules apply to your personal situation
- avoid common tax pitfalls or missed allowances
- plan your retirement with more confidence
- make informed decisions about passing on wealth
- review whether your existing plans are still on track
- adjust your strategy when rules or life circumstances change
While our guides are designed to explain the basics clearly, they can’t replace personalised, regulated advice. If you'd like tailored guidance, we can introduce you to an FCA-regulated adviser for a free, no-obligation chat.
No commitment. No jargon. Just clear answers about your money.