Budget 2026 Calculator UK | Better or worse off?

At the Labour conference on 29 Sept 2026 the Prime Minister announced the triple lock will become a "double lock" from April 2030 — the state pension rising each year by the higher of inflation or 2.5%, with the earnings link removed — to help fund a National Care Service. It is conditional on Labour winning the next general election and the triple lock stays unchanged for this parliament. It does not change 2026/27 better/worse-off maths.

The Chancellor met Britain's biggest bank bosses on 6 Oct 2026 (Times) and left them "none the wiser" — no decision announced. City speculation of a levy on bank profits persists ahead of 28 Oct, with campaigners suggesting up to £19bn could be raised from the big four (Positive Money). This is corporate tax: it would not change personal better/worse-off results. Treat as rumour until Budget day.

HMRC is issuing ~1.8m Simple Assessment (PA302) letters for 2025/26. A second tranche lands October–December 2026 covering bank and building-society interest — and it can repeat figures from your first letter even if already paid. HMRC advises subtracting tax already paid from the second figure to work out what you genuinely owe, so you don't pay twice. (Sources: Grimsby Telegraph 29 Sept 2026; ICAEW.)

Whether you are better or worse off depends on your income sources and asset mix. Higher earners, landlords facing +2pp property tax rates from April 2027, savers exceeding their Personal Savings Allowance, and those with uninvested cash in Stocks and Shares ISAs will face higher liabilities, while standard PAYE employees with modest savings will primarily feel the continuing freeze on income tax thresholds.

The Autumn Budget 2026 will be delivered on Wednesday 28 October 2026. The Chancellor's speech to Parliament traditionally begins immediately after Prime Minister's Questions at approximately 12:30pm GMT and lasts around an hour.

From 6 April 2027, the annual contribution cap for Cash ISAs will drop from £20,000 to £12,000 for adults under the age of 65. The overall statutory ISA allowance remains £20,000, meaning the remaining £8,000 must be invested in Stocks & Shares ISAs, Innovative Finance ISAs, or Lifetime ISAs.

No. Individuals aged 65 and over will retain the full £20,000 annual allowance for Cash ISAs after April 2027, exempting pensioners and older savers from the £12,000 restriction.

From 6 April 2027, tax rates on taxable savings interest rise by 2 percentage points. Basic-rate taxpayers will pay 22% (up from 20%), higher-rate taxpayers will pay 42% (up from 40%), and additional-rate taxpayers will pay 47% (up from 45%) on interest exceeding their allowance.

From 6 April 2027, individual landlords will pay an extra 2 percentage points on net rental profits. The rates become 22% for basic-rate, 42% for higher-rate, and 47% for additional-rate taxpayers, costing higher-rate landlords an additional £200 for every £10,000 of net rental profit.

Yes. From 6 April 2027, most unused defined contribution pension funds and death benefits will be included within the deceased's estate for Inheritance Tax (IHT) calculation purposes, removing their historic full exemption.

Rumoured — not confirmed: Widespread speculation suggests the Chancellor may reduce the maximum tax-free Pension Commencement Lump Sum (PCLS) from the current statutory cap of £268,275 (25% of £1,073,100) down to approximately £100,000 to raise revenue.

Rumoured — not confirmed: While replacing marginal rate pension tax relief (20%/40%/45%) with a flat 30% rate would boost basic-rate savers and raise billions from higher earners, implementing it poses severe administrative challenges for defined benefit and NHS public sector schemes.

Already enacted into law under the Finance Act, the statutory limit on National Insurance relief via employer salary sacrifice arrangements is set at £2,000 of relief per tax year, commencing from 6 April 2029. This is existing legislation, not a new Budget 2026 measure.