As you know, the Autumn Budget 2025 dropped on 26 November. There wasn’t anything huge for businesses overall, but a few smaller changes could nudge your costs or plans for next year. Here’s a quick summary of what matters most for SMEs and what you can do.
Tax thresholds are frozen
Income Tax and National Insurance rates aren’t going up. But tax thresholds are staying frozen, which means that as wages and profits rise, people can end up paying a bit more over time.
Why it matters: If you’re thinking about pay reviews, dividends or pricing for 2026, it’s worth factoring that quiet squeeze in now.
Minimum wage is going up
Minimum wage is going up again from April 2026. The Budget confirmed the new headline rates: £12.71/hour for 21+, £10.85/hour for 18–20s, and £8.00/hour for 16–17s and apprentices.
Why it matters: If your business relies heavily on people-power (shops, hospitality, care, trades) this is a good moment to run a quick cost check for next year. Planning will help you understand what kind of cost implications there are.
Business rates support continues for some sectors
Retail, hospitality and leisure businesses keep targeted business rates relief, while bigger premises shoulder more of the weight.
Why it matters: If you’re in one of those sectors, this should help keep premises costs steadier into 2026, though it’s still smart to watch lease renewals and service charges. We can help with that if you connect to the Binq app.
Transport costs stay steadier for now
Fuel duty is frozen again to April 2026. For electric vehicles, the government is also steering toward new road-use charges from 2028.
Why it matters: Short term: fewer surprises for delivery, travel and field-team costs.
Long term: if you’re moving to EVs, build that future charge into your longer-range numbers.
Energy bills should ease a bit next year
Some levies are being shifted off energy bills and into general taxation from April 2026, with the aim of lowering costs overall.
Why it matters: This could bring welcome breathing room if energy is a chunky part of your overheads but keeping a buffer still makes sense because prices can wobble.
The economy's expected to grow more slowly after 2026
The updated forecasts point to softer growth in the years ahead.
Why it matters: When growth slows, lenders often get pickier and customers get more cautious. If you’re planning to expand, hire, buy stock, or refinance next year, getting your funding lined up early can make life a lot easier.
Next steps
If you want to think about funding due to rising payroll, invest ahead of a slower patch, or just want a bit more cash-flow room, we can help. It’s always best to look for funding before you need it.
Binq gives you a quick, clear view of funding options that fit your business, and a decision within days.
