Before the Budget: seven checks worth making now
05 October 2026
As we await John Healey’s first Autumn Budget on the 28th October 2026, media speculation will inevitably build. While it can be tempting to make financial decisions now in anticipation of possible changes, we would generally recommend taking a measured approach.
Johns Healey’s first Autumn Budget is scheduled for the 28th October 2026. As media speculation inevitably builds, it is easy to rush into irreversible financial decisions with a view to ‘get ahead’, but waiting for certainty will result in sensible actions that will better service your long-term plan.
Need to know: Prepare for change; do not try to predict it. Any action should make sense under today's rules and within your wider plan.
1. Check your pension contributions
A pension contribution may attract tax relief and could help some higher earners retain more of their personal allowance. But contribution limits carry forward and access rules matter. Check affordability and allowances before acting.
2. Use your ISA allowance
Money held in an ISA can grow free of UK Income Tax and Capital Gains Tax. If an ISA contribution already forms part of your plan, there may be little benefit in waiting for the Budget.
3. Review gains and losses
Look across taxable investments before selling. Realising gains, using losses or transferring assets between spouses or civil partners can change the tax outcome, but transactions should support the investment plan and not be driven by tax alone.
4. Look at assets as a household
Spouses and civil partners may have different income levels and unused allowances. Holding assets in the most suitable name can improve overall tax efficiency, subject to legal ownership and personal circumstances.
5. Revisit gifting and estate plans
If you intend to help family members, review what you can afford and how a gift fits your estate plan. Do not give money away simply in response to rumours of a tax change.
6. Review cash outside tax-efficient accounts
Higher interest rates can create a larger Income Tax bill on cash savings. Consider the purpose of the cash, the protection available, access needs and whether other assets (including certain gilts) may be more appropriate. Investment risk and tax treatment differ.
7. Estimate your full-year income
Include salary, bonuses, dividends, savings interest, rent and pension income. A clearer forecast can expose tax-band issues and help you plan contributions or withdrawals more effectively.
The bottom line
The best pre-Budget action is not necessarily the fastest one. Review first and act only where the decision supports your long-term plan. Speak to an Adviser to find out more.
Guidance only
Guidance only
This content is for general information only and is not personal financial or tax advice. Tax treatment depends on individual circumstances and rules can change. Seek advice before taking action.
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