This episode is part speculation, part sober analysis, and part gallows humour in the run up to the Autumn Budget on November 26.

The November Budget has slipped from October to 29 November. That delay has everyone asking what new revenue raisers are on the table. Below is a clear, practical walkthrough of the possibilities discussed on the Tax Compass Podcast with Simon Roue and Laura Sant, and what globally mobile clients should consider now.

Why the timing matters

The move from October to 29 November suggests more work behind the scenes. Markets are sensitive. So are households and small businesses. If you are mobile or recently left the UK, you should plan scenarios now, not after announcements.

Income tax: rates vs bands

• Parties pledged not to raise the main rates of 20, 40 and 45 percent.
• The more likely lever is band changes or extended freezes.
• Risks include: earlier withdrawal of the personal allowance, a smaller basic rate band, and continued fiscal drag.

What you can do: model your 2025 to 2027 income with frozen bands. Check whether bonuses, dividends or option exercises could push you into a pinch point.

Pensions: two pressure points

1. Tax-free lump sum cap
   • The 25 percent principle may stay, yet the cash cap could fall.
   • A lower cap quietly reduces benefits for mid to high balances.
2. Relief on contributions
   • A single relief rate idea keeps surfacing. Example: a flat 30 percent credit.
   • Higher-rate and additional-rate payers would get less relief than today.

What you can do: review planned contributions, access strategies and employer schemes now. Avoid rushed decisions after Budget day.

VAT: rate said to be steady, rules may not be

• The headline 20 percent rate may hold.
• Expect attention on zero-rated and reduced-rated items and on the registration threshold.
• Lowering the threshold or redefining categories would hit consumer-facing micro businesses hardest.

What you can do: if you hover near the threshold, run pricing and margin scenarios including full VAT. Ensure digital records and MTD processes are clean.

Property and wealth: three levers often used

1. Stamp Duty Land Tax
   • Easy to tweak surcharges for second homes and non-residents.
2. Council tax reform
   • Rebanding higher-value properties creates a stealthy mansion charge with local cover.
3. Primary residence CGT cap talk
   • A cap on principal private residence relief at high values is sometimes floated. Harder politically, but keep it on the watchlist.

What you can do: if a property transaction is discretionary, set decision gates for exchange and completion timing.

Capital Gains Tax: easier to trim allowances than lift rates

• Aligning CGT with income tax seems less likely today.
• Removing or shrinking the annual exempt amount is simpler and raises steady revenue.
• Some talk extends to using the personal allowance for gains once income is nil.

What you can do: consider crystallising gains within allowances if that already fits your long-term plan. Do not transact purely for tax without commercial logic.

ISAs: less cash shelter, more equity push

• A lower cash ISA allowance is plausible.
• Policy goal would be to nudge retail money into markets.

What you can do: map emergency cash needs first, then deploy the rest intentionally across wrappers.

Wealth tax and exit measures: not a prediction, a risk to price

• An annual wealth levy is complex to administer.
• A simpler option is an exit-style charge or tighter Statutory Residence Test rules to deter abrupt departures.
• Split-year and deeming rules could be adjusted again.

What you can do: if moving is already on your roadmap, set evidence-based criteria for timing, day counts and treaty access. Document your residence position carefully.

Inheritance Tax: fewer reliefs, tighter gifts

• Residence nil rate band for property could be curtailed.
• Gift rules could lengthen from seven to ten years, with less taper.
• The 40 percent rate is politically heavy, yet allowances are easier to change.

What you can do: refresh your will, review lifetime gifting, trusts, pensions death benefits and protection cover.

This post is general guidance, not personal tax advice. Always take advice on your specific facts.

Contact LSR Partners today to speak with our expert team and pay the right tax, in the right place, at the right time.