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Budget tomorrow: a quick checklist, key dates, and what happens after 28 October

The Chancellor, John Healey, delivers the Autumn Budget tomorrow, Wednesday 28 October 2026. The Office for Budget Responsibility publishes its latest economic and fiscal forecast on the same day.

Why we won’t guess

There’s always plenty of speculation in the run-up to a Budget. Nothing is certain until the Chancellor says it, so we won’t add to the guesswork. We’ll post a plain-English summary once the announcements are out.

Your 15-minute checklist

  • Get your bookkeeping up to date, so you know where you stand.

  • Have a rough idea of your profit for this year.

  • Make a note of any big plans – taking dividends, buying equipment, selling an asset or taking someone on – so we can check them against what’s actually announced.

Dates that don’t change with the Budget

For the 2025 to 2026 tax year:

  • Paper Self Assessment returns must reach HMRC by 31 October 2026.

  • Online returns must be filed, and any tax paid, by 31 January 2027.

  • If you’d like tax you owe collected through your tax code, file online by 30 December 2026.

Making Tax Digital is still on the way

Making Tax Digital for Income Tax already applies to sole traders and landlords with qualifying income over £50,000. It extends to those over £30,000 from 6 April 2027, and over £20,000 from April 2028. Qualifying income means your total self-employment and property income before expenses. If you’re already signed up, your next quarterly update is due by 7 November.

What’s already confirmed

The Personal Allowance (£12,570) and the higher rate threshold (£50,270) are frozen until April 2031. We covered these and the other changes already announced in last week’s post.

What happens after 28 October

Once the Budget’s out, we’ll share our plain-English summary. If you’d like to know what it means for you or your business, we’re happy to talk it through.

The Budget is on Wednesday 28 October. We’ll share a plain-English summary on the day – and if you’d like to know what it means for you or your business, book a free call with our team: www.kara-accountants.net/contact/

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