The Autumn Budget this year will be delayed until November 26, offering individuals more time to prepare and take necessary financial steps. While the specifics of the Budget remain speculative, it is certain that there will be implications on personal finances, whether through increased taxation, reduced social benefits, or community cuts.

To mitigate the impact of potential Budget changes, it is advisable to review investments and utilize tax-free allowances before November 26. Individual Savings Accounts (ISAs) are tax-efficient savings vehicles that shield interest and gains from taxation.

Speculation surrounds the Personal Savings Allowance, with rumors suggesting a possible reduction in the annual Cash ISA allowance to £4,000, redirecting the remaining funds to investment ISAs. Parents and grandparents may face lifetime gifting limits, while potential adjustments to Inheritance Tax thresholds could lead to higher taxes on gifts within seven years of death.

Landlords may soon face a National Insurance rate of 8% on rental income, alongside radical property tax reforms, impacting homeowners and sellers. Renters nearing lease agreements should consider securing agreements before potential tax changes to avoid rent hikes.

Capital Gains Allowance, currently set at £3,000 annually, may undergo modifications. Capital Gains Tax is levied on profits made from asset sales, affecting various investments. Labour’s commitment to no tax increases raises concerns about the removal of the CGT allowance, potentially subjecting profits from asset sales to taxation.

Considering these potential changes, individuals are advised to stay informed and seek professional advice when making financial decisions.