It feels like déjà vu, doesn’t it?

Just like last year, the headlines are full of speculation about what the Chancellor might announce in the upcoming Budget. Depending on which paper you read, everything from capital gains tax to inheritance tax, pensions, and even ISAs could be on the table.

If it all feels a little uncertain, you’re not alone — but don’t worry, we’ve been here before, and experience tells us that patience and perspective are the best approach.

What We Learned Last Year

Leading up to last year’s Budget, we saw similar predictions: major pension reforms, inheritance tax changes, and cuts to key allowances.

Our advice then was simple — don’t make decisions based on rumours.

When the announcements came, many of the scarier ideas never happened. A few adjustments did appear — capital gains tax rates were increased and stamp duty surcharges rose — but the biggest change, pensions becoming subject to inheritance tax from 2027, wasn’t even on most people’s radar!

Those who stayed calm and waited for the facts were in a much stronger position.

This Year’s Top 5 Rumours

Here are five Budget rumours we hope don’t become reality:

1. Higher capital gains tax rates – potentially discouraging investment.

2. More pension restrictions – adding complexity to retirement planning.

3. Inheritance tax reform – simplification would be good, higher rates less so.

4. Reduced ISA allowances – limiting opportunities for tax-efficient saving.

5. Property tax increases – making moving or downsizing more difficult.

The Treasury may be aiming to raise around £30 billion through tax changes, but the Chancellor is expected to stick to manifesto promises. That suggests income tax, VAT, and National Insurance should stay unchanged — which is some welcome stability.

The Value of Waiting for Facts

Speculation makes for interesting reading, but rarely for sound financial planning.

Acting too early can backfire, especially if the eventual changes are softer or different from expected. For now, the best move is to:

• Make sure you’re making full use of current allowances.

• Review your retirement and investment plans.

• Avoid making hasty changes based on what you’ve read in the news.

Last year, our clients who stayed patient and focused on what they could control saw the benefit of that approach. We expect the same will hold true again this year.

What Happens Next

Once the Budget is announced, we’ll review the real details — not just the headlines — and be in touch to explain what they mean for you.

As always, if you have any concerns in the meantime, please get in touch. We’re here to help you stay calm, informed, and confident about your long-term plans.