After one of the most chaotic build-ups to a Budget in recent memory – including an unprecedented early leak of the Office for Budget Responsibility (OBR) report – we finally know what Rachel Reeves has announced in the UK Budget 2025.
In this Citrus Bites Budget Special, filmed from our Sevenoaks office, Richard Harris takes a first look at the headline tax and spending measures, and what they might mean for households and businesses over the coming years.
Key points from this episode include:
Tax thresholds frozen for longer – extending fiscal drag and pulling more people into basic and higher-rate tax over the remainder of the decade.
Cash ISA changes from 2027 – reducing the annual cash limit and shifting more of the allowance toward stocks and shares ISAs (for under 65’s).
New limits on pension salary sacrifice – with a future cap set to affect some higher earners and employers.
Council tax changes for higher-value homes – including new additional charges for homes in bands F, G and H.
Updates on fuel duty, EV charges and lifestyle taxes – including sugary drinks and gambling duty.
Spending measures – from removing the two-child benefit cap to additional support for the NHS, schools, energy bills and apprenticeship training.
The latest OBR forecasts – covering growth, inflation, and the continued rise in unemployment.
Watch the full episode now
If you’d like a straightforward overview of what’s changed, without the noise and jargon, please watch the full Citrus Bites Budget Special above.
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