Autumn Budget 2026

Robert Marchant, Partner, Head of Tax

The Chancellor should prioritise tax simplification, investment and sustainable revenue raising, while avoiding measures that could undermine business confidence. We would welcome a focus on modernising the UK’s tax administration, making tax compliance more efficient and measures to unlock economic growth.

A key priority should be further simplifying HMRC processes and reducing the complexity of tax administration. Too many interactions with HMRC remain unnecessarily complex, while recent years have seen the introduction of new taxes and levies that add further compliance requirements. The result is that many spend what could be argued as a disproportionate amount of time on tax administration, rather than focusing on growing their business.

The government should also strengthen incentives for business investment by protecting valuable corporate tax reliefs and maintaining a competitive environment for innovation and growth. Any reforms should provide certainty and stability, enabling businesses to make long-term investment decisions. 

Finally, the Budget should continue efforts to modernise the tax framework through clearer reporting requirements, proportionate penalties and improved dispute resolution processes, helping to increase tax revenues through better compliance and tax collections rather than the current trends of introducing new taxes, the freezing of thresholds or the removal of reliefs.

Pete Fairchild, Partner, National Head of Private Clients 

The new Chancellor is encouraged to calm the troubled waters of the UK economy by introducing measures that bring certainty to taxpayers, over several years, enabling them to plan effectively, rather than forcing individuals to keep chopping and changing arrangements. Individuals and businesses are pleading for stability after a series of knee-jerk reactions on tax legislation.

There are widespread calls for measures that stimulate productivity and investment in the private sector. Businesses are seeking certainty regarding corporate taxation and enhanced incentives for innovation, particularly in green technology and digital infrastructure.

Furthermore, hard working taxpayers would welcome targeted measures that alleviate pressure on household budgets, without fuelling inflationary risks.

Simplification around tax compliance and administration is also seriously overdue.

Ultimately, the budget must strike a careful balance between fiscal responsibility and ambitious growth.

Caroline Fleet, Partner, Head of Real Estate

The real estate sector will be looking to the Autumn Budget for measures that support investment, improve market confidence and simplify an increasingly complex property tax landscape.

The UK already has one of the highest property tax burdens among major economies, and businesses will be hoping to avoid any further taxes or levies that deter investment and development, particularly following the High Value Council Tax Surcharge and Residential Property Developer Tax. Instead, there is a strong case for a broader review and reform of how real estate is taxed, creating a more stable and competitive environment for long-term growth.

Particular attention will be on reform of council tax and business rates. Both are widely seen as outdated and in need of modernisation to better reflect current property values and usage. There are also concerns that the current business rates regime discourages investment and regeneration.

The sector will welcome measures that help unlock activity across the housing market. Building on initiatives such as the government's proposed ‘Your Home’ scheme could improve affordability for first-time buyers, while supporting housing delivery.

Finally, targeted tax incentives for sustainable buildings would be well received, helping to accelerate investment in energy efficiency improvements and meet evolving EPC requirements.

Nicky Owen, Partner, Head of Professional Practices

With the Autumn Budget approaching and continued speculation around taxes on wealth and capital, partners in LLPs and professional practices may wish to review their affairs sooner rather than later. Where appropriate, making pension contributions can help secure higher-rate tax relief under current rules, while crystallising capital gains before any potential changes could provide certainty at today’s rates. Making full use of ISA allowances is also sensible financial planning and benefits from the tax-free status. 

Beyond personal tax planning, many professional practices will be hoping the Chancellor resists changes to the salaried members regime. While the rules are complex, they are broadly understood by firms and their advisors. Any tightening of the conditions, or measures that extend employer National Insurance obligations to a greater number of LLP members, could increase costs and administrative burdens and have widespread implications at a time when firms are already facing higher employment costs and pressure on margins.

We may also see increased momentum to complete private equity transactions ahead of the Budget. The professional services sector has attracted significant investor interest in recent years, and any increase in Capital Gains Tax could influence the timing of deals. While the potential tax take may be tempting, the Chancellor will need to balance short-term revenue generation against the need to encourage investment and long-term growth.

Laurence Field, Partner, Corporate Tax

With manifesto pledges protecting Income Tax, VAT and National Insurance, the Chancellor has limited room for manoeuvre. The challenge will be supporting growth and investment while maintaining sustainable public finances.

Businesses would welcome a clear growth agenda. Greater tax certainty, business rates reform and stronger incentives for digital transformation could help unlock investment and improve the UK's competitiveness. However, a cautious, low-key approach is likely to be taken.

There is an opportunity to support manufacturing through defence spending. Progress towards the government's ambition of spending 3% of GDP on defence would benefit aerospace, technology and engineering supply chains, although with significant announcements kicked down the road, significant measures in the Budget may be limited.

At the same time, many will be hoping the Chancellor resists short-term tax grabs on capital and investment. Maintaining CGT rates and investment incentives could shield entrepreneurial momentum. However, with limited options available to raise revenue without breaching existing commitments, speculation remains around potential changes to CGT, targeted wealth taxes and continued windfall taxes on certain sectors.

Ultimately, the Autumn Budget will reveal how the government intends to reconcile its growth ambitions with the realities of a constrained fiscal environment.

Stuart Weekes, Partner, Head of Manufacturing

The government says it backs UK manufacturing, but businesses need tangible measures that give them the confidence to invest, innovate and grow.

Manufacturers continue to face high and volatile energy costs, alongside growing skills shortages and an ageing workforce. Greater support for energy-intensive industries, combined with investment in training and apprenticeships, would help businesses remain competitive and develop the skilled workforce needed for the future.

Innovation must also be encouraged. Since 2023, the financial benefit of R&D tax relief for profitable SMEs has fallen significantly, reducing incentives to invest. The government should strengthen R&D support and make the UK patent box more competitive internationally, including considering a reduction in the corporation tax rate applied to patent box profits from 10% to 5%.

The government has committed significant investment to defence and aerospace, while automotive manufacturers continue to face high costs, tariffs and global competition. Many automotive suppliers are keen to diversify into defence, but need practical support to make that transition successfully.

Finally, the UK manufacturing ecosystem depends on effective collaboration between large businesses and SMEs. Although there is strong willingness to work together, barriers remain. Government action to remove or reduce these obstacles would help strengthen supply chains, unlock investment and support long-term economic growth.

For further insight, read our article on Autumn Budget 2026: What manufacturers want to see

Andrew Hawley, Partner, Corporate Tax

For large corporates and international groups, the key request ahead of the Autumn Budget is certainty. The government’s existing Corporate Tax Roadmap commits to maintaining the 25% corporation tax rate and predictability for investment. Businesses will be hoping the Chancellor maintains this approach and avoids introducing major changes.

From an international perspective, HMRC remains focused on ensuring that profits associated with UK activity are appropriately taxed to protect the Exchequer’s tax base. The Budget could therefore include further measures to improve transparency and increase compliance among multinational groups. However, with businesses already navigating significant change, including the 2026 modernisation of the UK’s transfer pricing and permanent establishment rules, the repeal of the Diverted Profits Tax and recent Pillar Two reporting obligations, many will be hoping for simplification and administrative easements to reduce compliance costs.

Many large businesses would welcome greater certainty around capital investment incentives. A permanent, simplified full expensing regime, alongside enhanced incentives for digital transformation, AI adoption and productivity-enhancing investment, would support long-term investment decisions.

Above all, businesses will be looking for stability, certainty and a reduced administrative burden. Frequent policy changes can delay investment, even when headline corporation tax rates remain unchanged.