I don’t normally comment on Budgets. As a professional accountant, I often say that whoever you vote for, all politicians are as bad as each other. My bugbear is that they all horrendously and unnecessarily over-complicate the tax system. But the November 2025 Budget was a particularly bad one : something awful for everyone. It was very reminiscent of some of the Budgets in the 1970s leading up to the ‘Winter of Discontent’. And don’t take my word for it. You can read what other experienced and reputable commentators, journalists and economists have to say about it.
I’m not going to go into the details of the Budget here. But generally, people don’t really fully appreciate Budget changes until it hits them in the pocket, and they have to pay the increased tax : the ‘ouch factor.’
So what can be done about it ? Some people will say ‘not a lot’ ! However, small and medium-sized businesses and individuals will do what they always do, and just get on with it. Continue to run your business as efficiently as possible. Plan carefully, do your research and seek expert professional advice. There is an old saying : ‘you shouldn’t let the tax tail wag the dog.’ Essentially, this means doing what is best for your business. Consider the tax consequences, but don’t necessarily let them rule your business decisions.