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ICAEW’s Tax Faculty explains the conditions that must be met for an individual to claim founders’ relief, based on the information published by the government so far.

ICAEW's Tax Faculty picks out five important measures announced at the budget which didn’t make the headlines on the day, but may affect how HMRC administers the tax system in the future.

UK Chancellor John Healey had a huge challenge with his first budget. It had been trailed as a ‘steady as she goes’ budget – was it successful? In our usual budget analysis episode, we break down the various measures outlined in the budget, the economic backdrop that informed the Chancellor’s decisions, the winners and losers, and what it all might mean for the coming year.

The government has confirmed that taxpayers who are due to join Making Tax Digital (MTD) for income tax from April 2027 will not be given penalty points for late submission of quarterly updates for 2027/28.

For 2027/28 onwards, individuals who are above the state pension age may receive the pension tax allowance in addition to their personal allowance, increasing the amount of income they can receive without having to pay income tax.

There was mixed news for entrepreneurs in the budget, with the announcement of a new capital gains tax relief (CGT) for founders of innovative companies and a cut in the lifetime limit for business asset disposal relief (BADR).

The budget included a range of VAT measures affecting businesses, from e-invoicing and online marketplaces to social housing and electric vehicle charging.

From April 2029, income tax self assessment (ITSA) taxpayers will be required to make automated in-year tax payments (such as through direct debit), with eligible taxpayers being able to opt-in to payments through pay as you earn (PAYE).

Employment tax announcements at budget 2026 included changes to the approved mileage allowance payments, increases to the national living and minimum wages and a reform of the benchmark scale and overseas scale rate payments.

Budget 2026 includes changes to environmental taxes, excise duties and other indirect taxes. ICAEW highlights some of the key measures businesses and advisers should be aware of.

The government announced several changes to income tax at the budget 2026, including a further increase in the rates of tax on savings and property income, effective from April 2027.

Key announcements include changes in the rates of capital allowances, improvements to the process for claiming research and development tax relief and confirmation that the government will not proceed with new reporting requirements for close companies.

Alongside a 20% reduction in business rates liabilities in England for pubs, music venues and social clubs, more generous reliefs have been announced that will bring a further 70,000 businesses out of business rates from April 2027.

With little room for manoeuvre due to global supply challenges and low growth, the Chancellor focused on keeping all stakeholders – especially the markets – calm.

Cyber attacks have become a constant source of concern for organisations, with the use of AI increasing the scale and sophistication of cyber crime.