Autumn Budget 2026: Winners and Losers

The Chancellor used today’s Budget to offer “breathing space” for households and businesses, while setting out what the Government described as “fresh hope for the future”. The Budget avoided broad-based tax rises, instead focusing on more targeted measures. 

As ever, the announcements created a mix of winners and losers. Here are some of the measures likely to have the greatest impact.

Winners

• Households – Up to 20 million households in Council Tax bands A–D will receive a £100 energy payment, alongside further energy bill support.
• First-time buyers – Support for those looking to get onto the property ladder was a notable feature of the Budget, including £4.7bn of government lending through the new Your First Home scheme.
• Retail, hospitality and leisure – Further business rates support should provide some relief for small businesses continuing to face rising employment and operating costs.
• Businesses investing for growth – The Budget continues to encourage business investment, including increasing the First Year Allowance from 40% to 50% for qualifying expenditure.
• Pensioners and savers – The decision to retain the £20,000 cash ISA allowance, alongside measures affecting pensioners, provides some additional certainty for savers.

Losers

• Landlords – From April 2027, Income Tax rates on property income will increase by a further 2 percentage points, taking the basic rate to 24%, the higher rate to 44% and the additional rate to 49%.
• Business owners considering a sale – Decrease in Business Asset Disposal Relief to £500,000 could increase the tax cost for some entrepreneurs looking to exit their business, putting greater emphasis on planning ahead.
• Employers – The 3.9% increase in the National Living Wage and National Minimum Wage will mean further employment cost pressures, particularly for labour-intensive businesses.
• Banks – The Bank Surcharge will increase by three percentage points, making the sector one of the clearer losers from the Budget.
• Gambling businesses – Higher duties and changes to business rates relief will increase costs for parts of the gambling sector.

Our initial view

The Chancellor repeatedly spoke about offering “breathing space” now and “hope for the future”.

There were some clear areas of support, particularly for households, first-time buyers and certain businesses, but relatively few sweeping changes to the wider tax landscape.

The key question will be whether this Budget provides the breathing space needed to support stronger growth and improve confidence, or whether some of the bigger decisions have simply been left for another day.

James Cowper Kreston’s tax and business advisers will be looking closely at the detail behind today’s announcements and what they mean for businesses and individuals. To understand what the Budget announcements could mean for you and your business, join our experts at tomorrow’s Budget Seminar. Register here.