The Autumn Budget brought a mixture of tax adjustments, welfare reform, and energy bill measures aimed at stabilising public finances while offering targeted support. With rising costs affecting households and businesses alike, the announcements are expected to influence financial planning over the coming years, prompting many to seek guidance from accountants in Bristol and beyond to better understand the evolving implications.
Key tax and welfare announcements
One of the most significant changes was the decision to remove the two-child benefit cap from April, a measure expected to increase support for families. Alongside this, tax thresholds for income tax and national Insurance will remain frozen until 2031. This means more people will gradually move into higher tax bands as earnings rise, particularly as wages continue to shift with inflation.
Additional measures included higher taxes on dividends, savings, and property income, and a new council tax surcharge for homes worth between £2m and £5m, which will range from £2,500 and £7,500. A per-mile charge for electric vehicles will be introduced from 2028.
For those looking for accountants Bristol, companies such as //chippendaleandclark.com/accountants-near-me/bristol can help.
Energy and household impacts
The budget confirmed the removal of several levies from energy bills, including the long-standing ECO scheme. These costs will be absorbed into general taxation, contributing to an estimated £150 annual reduction for the average household.
Overall, the budget clearly signals gradual increases in the tax burden, particularly for those with investment income or high-value property, while widening support for larger families and adjusting how energy costs are shared nationwide.
