With the Autumn Budget approaching, many business owners are feeling understandably cautious. The policy signals coming from the Treasury in recent weeks have been mixed, and the Chancellor’s tone has been firmer than usual, creating a sense of uncertainty for businesses across all sectors.

To help you prepare, we’ve summarised the main areas currently being discussed in the lead-up to Budget day, focusing on the issues most relevant to small and medium-sized businesses — including those in the agricultural sector where appropriate.

1. Business tax reliefs under discussion

Several long-standing reliefs have been the subject of speculation in the press this week. R&D schemes, capital allowances and the VAT threshold are all reported to be under review as part of efforts to reassess government spending and incentivise targeted investment.

Potential areas of change include:

• Refinements to R&D tax relief, particularly for smaller businesses.
• Adjustments to the Annual Investment Allowance (AIA).
• A possible alteration to the VAT registration threshold.

Any movement in these areas could influence investment planning and cashflow management over the next financial year.

2. Employment costs and National Insurance (NICs)

Employment costs remain a key topic in pre-Budget commentary. Talk of potential changes to employer National Insurance contributions has been prominent, especially in the context of balancing the wider fiscal position.

Businesses should be prepared for the possibility of:

• Changes to employer NIC rates,
• Threshold adjustments, or
• Targeted incentives aimed at sectors experiencing persistent skills shortages.

Given the importance of accurate wage forecasting, even small adjustments may have practical day-to-day implications for planning and payroll.

3. Rural infrastructure and business support schemes

While not yet confirmed, there has been discussion around the future of targeted support schemes — from broadband and transport to environmental programmes and energy support for high-consumption sectors. Any update in these areas could affect the long-term cost base and operational resilience of businesses operating in rural or semi-rural locations.

4. Corporation Tax and compliance measures

Although major changes to headline corporation tax rates are considered unlikely, several commentators expect renewed emphasis on compliance.

Points to watch include:

• A tightening of reliefs used by owner-managed businesses,
• Closer scrutiny of dividend extraction methods, and
• Updates to anti-avoidance measures.

Clarity here will be important for year-end tax planning and structuring decisions.

5. Inheritance Tax and agricultural reliefs

Inheritance Tax has been a recurring headline this week, with particular attention on Agricultural Property Relief (APR) and Business Property Relief (BPR). Any adjustment to APR would have significant implications for farms and rural family businesses, particularly those planning multigenerational succession.

We will be monitoring this very carefully on Budget day, as even minor changes in this area can alter long-term plans.

Additional agricultural considerations

For those operating within the agricultural sector — one of the areas where policy change can have immediate and material impact — several topics currently circulating in the news deserve attention:

• Capital investment planning: Potential changes to AIA may affect decisions around machinery upgrades, diversification projects and infrastructure improvements.
• Labour planning: If employer NICs shift, this may have implications for seasonal or part-time labour budgets.
• Environmental and energy schemes: With ongoing discussion around the future of environmental payments and rural energy support, any Budget updates could influence the cost base heading into winter and spring.

We’re here to support you through the Autumn Budget 2025 changes

With the Autumn Budget scheduled for 26th November, the days leading up to it naturally bring a great deal of speculation — and this year the volume of commentary has understandably increased. But it’s important to remember that these discussions are not final policy. The full picture only becomes clear once the Chancellor delivers the statement.

We will be reviewing the announcements in real time and translating them into clear, practical guidance tailored to your business. If you would like to discuss any of the policy changes following the Autumn Budget and how these could affect your plans, cashflow, payroll or long-term strategy, please get in touch.

We’re here to help you navigate the changes — whatever they may be.

Helen Garrett
Partner