“Ruled out” is narrower than the headlines suggest. Protected by the main tax-rate pledge: the main rates of income tax, employee National Insurance and VAT. Subject to a separate commitment: the main corporation tax rate, capped at 25% for this Parliament. Outside those specific rate pledges: tax thresholds and allowances, employer National Insurance, capital gains tax, dividend and savings taxation, pension relief and tax-free cash, inheritance tax, property taxes, business

Why is the Chancellor exploring less obvious ways to raise revenue? The answer is straightforward: the Government's financial breathing space is rapidly diminishing. In March 2026, the Office for Budget Responsibility (OBR) estimated that the Government had £23.6 billion of headroom against its fiscal rules. That margin now looks considerably less comfortable. Recent estimates from EY suggest headroom has fallen to approximately £11.3 billion, while the Resolution Foundation

Before the speculation begins, let's look at what we already know. As attention turns to the forthcoming Budget, there will inevitably be rumours about further tax rises, spending decisions and possible changes to allowances. But much of what will affect households, investors and business owners over the next few years has already been announced, with several measures now in legislation. Here is what we know so far: 🔹 April 2026 – Dividend Tax: Rates increased by 2 percentag

John Healey's first Budget, the first of Andy Burnham's government, is best read as a fiscal-tightening event with a high chance of targeted changes rather than a simple rise in headline rates. Three points frame everything else. The room to manoeuvre has shrunk. Headroom against the fiscal rules was above £24bn in March. Since then gilt yields, higher borrowing and new commitments have eaten into it: ITEM Club puts it at just over £10bn, and the Resolution Foundation has sug

With the 2025 Budget scheduled for Wednesday, 26 November, there are plenty of rumours about potential tax increases. With UK borrowing costs at their highest in 27 years, the Chancellor faces the challenge of boosting the economy while striving to "balance the books." This series of articles explores how the Chancellor might tackle this issue without breaking the Labour Party Election Manifesto pledge to avoid raising taxes on working people. We begin by focusing on area

The Government has decided not to take on recommendations made by the Office of Tax Simplification (OTS) for inheritance tax. The OTS Has...

The most recent figures show that taxpayers saved £30 million in inheritance tax (IHT) through gifting last year with many taking...