Following months of speculation, the Chancellor of the Exchequer, Rachel Reeves, unveiled the Autumn Budget 2025 on 26 November 2025, which she described as a budget that would deliver “stability”.

Her key announcements included freezing income tax rates, making numerous changes to inheritance tax, and introducing the High Value Council Tax Surcharge (nicknamed the “Mansion Tax”).

Stephen Woodward and Zara Yusuf have summarised the relevant changes for Private Client Practitioners:

Download the Autumn Budget 2025 summary

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