Autumn Budget 2026: What South Wales Businesses Should Be Watching For

Capital Gains Tax has been a recurring area of Budget speculation in recent years. Business owners who hold significant value in company shares, investment properties, or other assets should ensure they understand their current CGT exposure and whether any disposals they are considering would be better timed before or after the Budget.

Business Asset Disposal Relief (formerly known as Entrepreneurs' Relief) remains a valuable planning tool for business owners considering a sale or partial exit. Whether its conditions or rate will change is something to discuss with your accountant before the Budget.

Employer's National Insurance, which rose to 15% from April 2025, has already significantly increased the cost of employment for many South Wales businesses. Further changes to thresholds or rates in the Budget could have additional implications for payroll planning and director remuneration structures.

If you employ staff, or are considering taking on new employees, modelling the cost implications under different Budget scenarios is a sensible pre-Budget exercise.

Following the changes to Agricultural Property Relief and Business Property Relief announced in the Autumn Budget 2024, the landscape for family businesses and farming operations has shifted considerably.

Further refinements to inheritance tax business reliefs remain possible, making succession planning conversations more important than ever for family-owned businesses in South Wales.

Pension relief

Pension contributions made before the Budget can lock in relief at current rates. For business owners who have surplus profits and are considering pension planning, acting before the Budget rather than after removes one layer of uncertainty. Employer contributions made before the year end are also deductible against Corporation Tax.

The most important step is to book a conversation with your accountant before the Budget takes place. Specifically, it is worth reviewing:

• Your current Capital Gains Tax exposure on any assets or business interests
• Your salary and dividend structure in light of potential NIC changes
• Whether any asset disposals, pension contributions, or major financial decisions should be brought forward
• Your succession planning position if you own a family business or farming operation

None of this requires predicting what the Budget will contain. It simply requires knowing where you stand today — so that if changes are announced, you can respond quickly and with a clear picture of the implications for your business.

Want to review your tax position ahead of the Autumn Budget? Our South Wales team is available for pre-Budget consultations right now. Get in touch on 01443 834047, or email info@fooks.co.uk to arrange a conversation before the Chancellor takes to the despatch box.