Find out how the the Chancellor's plans change tax rates, thresholds and rules for you and your business, from the big adjustments to the tiny ones you may have missed.
Autumn Budget Summary
1 November 2024
Article last updated 15 January 2025.
Chancellor Rachel Reeves unveiled the government’s tax and spending plans in the House of Commons on 30 October.
At 117 days, the wait for an incoming government’s first Budget was the longest in more than half a century. It was an even longer wait for one from a female Chancellor: Reeves is the first in the nation’s history. The Chancellor said her Budget allowed the government to “invest, invest, invest”. It also raises £40 billion in taxes, the biggest increase relative to the size of the economy since 1993.
We have summarised all of her changes to personal and business taxes here.
The information in this document should not be taken as financial advice or a recommendation and is based on our current understanding of HMRC tax regulations in the UK.
Tax treatment depends on your individual circumstances which could change in the future. We do not offer tax advice and you should speak to a tax adviser if you’re unsure.
