As Chancellor Rachel Reeves prepares to unveil the November 2025 UK Budget, all eyes are on her to plug a fiscal black hole of £20–30 billion through tax rises and spending cuts. (Reuters)Despite Labour’s manifesto pledges not to increase income tax, NationalInsurance (NI), or VAT, Reeves has already hinted that taxes on thewealthy will “be part of the story.” (TheGuardian) The Institute for Fiscal Studies warns against a “dash forrevenue,” urging her to use smart, targeted reforms. (TheGuardian).
Below are 5 likely tax rises she might deploy:
What This Means for You
These tax changes could reshape property investing, retirement planning,and asset strategies. If you're a landlord, investor, or homeowner, nowis the time to review your capital gains exposure, inheritance planning, anduse of ISAs before the 26 November Budget drops.
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The Chancellor could also tinker with pension allowances and the taxfree cash element of pension pots, which would be disastrous for savers approachingretirement age.
Watch our upcoming episode on the Charles Kelly Money Tips Podcastwhere I break down each tax move, what it means for you, and how to legally protectyour wealth.
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