5 Smart Financial Moves to Make Before the 2025 Autumn Budget

With the Autumn Budget confirmed for 26 November, rumours are swirling once again about possible tax and pension changes. While most of it remains speculation, it’s understandable that investors and savers are feeling a little uneasy.

At Cleveden Park Wealth, we know that uncertainty can tempt people into hasty financial decisions or leave them paralysed into inaction. The good news is that there are practical, no-regret steps you can take now to strengthen your finances, whatever the Chancellor announces this autumn.

1. Use Your Capital Gains Tax Allowance

Rumours of future tweaks to Capital Gains Tax (CGT) make now a good time to review your investments. If you hold assets outside of a tax wrapper (like an ISA or pension), consider whether moving them into a tax-efficient structure could help reduce future liabilities.

Transferring shares or funds into a Stocks & Shares ISA or Self-Invested Personal Pension (SIPP) can shield future growth from CGT and income tax. Even if some gains are realised today, the long-term tax protection may outweigh the short-term cost.

Just remember your annual CGT exemption (£3,000 for 2024/25) and ISA/pension allowances and check for any fees before making changes.

2. Make the Most of Your ISA Allowance

With the £20,000 annual ISA allowance, now’s a great time to make sure your investments and savings are protected from tax.

A Stocks & Shares ISA can help your money grow free from UK income and capital gains tax, while a Cash ISA remains a strong option if you expect to need the funds within five years.

If you’ve been planning to invest anyway this year, using your allowance before the Autumn Budget ensures you’re not caught out by any rule changes.

3. Consider a Pension Contribution

The government’s ongoing freeze on income tax thresholds means many people are paying more tax without realising. Making a pension contribution can be one of the most effective ways to reduce this burden.

Higher- and additional-rate taxpayers benefit from generous tax relief at their marginal rate, so a £10,000 contribution could cost as little as £6,000 or £5,500 after tax relief.

There’s also speculation that future Budgets could see a shift from variable tax relief rates to a flat rate for all savers. If that happens, higher earners could lose out, making now a good time to take advantage of the current system.

Remember, you can usually access your pension from age 55 (rising to 57 in 2028).

4. Use Gifting to Reduce Future Inheritance Tax (IHT)

If supporting family or loved ones is part of your long-term plan, gifting can be a smart way to reduce the size of your taxable estate while helping others sooner.

Each person can gift up to £3,000 per tax year free from IHT, and couples can combine allowances. Larger gifts may also fall outside of your estate after seven years.

For younger family members, consider contributing to a Junior ISA, which allows up to £9,000 per year to be invested tax-free until the child turns 18.

5. Speak to a Financial Adviser

Speculation about tax changes is nothing new but acting on rumours can be risky. If you’re unsure how potential changes could affect you, professional advice can help you stay calm, avoid costly mistakes, and make informed decisions that align with your goals.

At Cleveden Park Wealth, we take a holistic approach to planning, ensuring every decision, from pensions to gifting, fits seamlessly into your broader financial strategy.