Autumn Budget 2025 — what professionals need to know

With the Autumn Budget set for 26 November, professionals across the UK are watching closely as Chancellor Rachel Reeves prepares to address a £30-40bn fiscal gap. 

The UK’s GDP growth slowed to just 0.3% in Q2 2025 and inflation remains the highest in the G7. With interest rates at 4% and limited fiscal headroom, the Chancellor is under pressure to balance credibility with growth. The Office for Budget Responsibility is expected to downgrade productivity forecasts, further tightening the Government’s options.

With speculation growing over possible changes to income tax, VAT and NICs, upcoming reforms may significantly affect high earners, landlords and partnerships.

Here, Andy Horsfield and Oliver Andrews from our specialist professional services team run through some of the key changes to watch out for.

Key tax measures under consideration

1. LLP tax changes

One of the most closely watched proposals is the introduction of employer National Insurance contributions for members of Limited Liability Partnerships (LLPs). 

Currently, LLP members are treated as self-employed and don’t attract Class 1 employer NIC. If this changes, the effective tax burden for LLP members earning over £100,000 could rise significantly — potentially up to 77% when combined with the loss of benefits such as tax-free childcare.

The legal sector has voiced strong opposition to this proposal. The City of London Law Society and Law Society of England and Wales have urged the Chancellor to reconsider, warning that such reforms could undermine the UK’s competitiveness as a global legal hub and disproportionately affect legal aid firms.

If NIC is introduced for LLPs, we’d expect to see an increased use of other structures, including traditional (unincorporated) partnerships.  

2. NIC on rental income

Another proposal under review is to treat rental profits as 'earned income' for NIC purposes. This would bring landlords into the NIC system and could aggregate rental and employment income for threshold calculations. 

While details are still emerging, the move could significantly broaden the tax base.

3. Other measures

Other potential changes include:

• Extension of income tax threshold freezes until 2030.
• Property tax reforms, such as new council tax bands or a mansion tax.
• A pension fund levy of around 0.25% annually.
• Capital gains tax and dividend tax reforms.

Talk to us

While this year’s Autumn Budget may not deliver headline shocks, its cumulative impact could be significant. Professionals — especially LLP members, landlords and high earners — should prepare for structural shifts in how income, property and wealth are taxed.

From 26 November, we’ll provide further updates on how the Budget will affect you. If you need any advice or assistance ahead of time, talk to us by calling 0333 004 4488, emailing hello@brabners.com or completing our contact form below.

You can also find out more about our professional services team. We provide a vast range of legal support, from navigating regulatory compliance to data protection, disputes, IP, corporate transactions and much more.