I promised I’d write a money post soon. And with the Budget last week, I don’t really have an excuse to put it off any longer.

There’s always a lot of noise around Budget time. Predictions about what might change, headlines about who will be worse off, and loads of opinions about what the Chancellor should have done instead.

It can leave you wondering whether you should be doing something. Moving money. Changing your plans.

But once the noise settles, what does it actually mean for you? Your retirement. Your savings. The help you want to give your children. The life you’re working towards.

Here are the main things I think are worth understanding.

A quieter Budget still gives us things to think about

There were no increases to the headline rates of Income Tax on earnings, National Insurance or VAT. But frozen Income Tax thresholds mean that, as pay and pensions rise, more of your income becomes taxable or falls into a higher tax band.

Dividend tax rates, the main Capital Gains Tax rates and the Inheritance Tax nil-rate bands are unchanged by this Budget. 

For savers and landlords, though, there are higher tax rates coming from April 2027. So even if nothing needs to change today, it’s worth understanding what’s ahead.

Your savings: what matters is what you keep

From 6th April 2027, the rates of tax on savings interest above your available tax-free allowances will rise to:

• 24% for basic rate taxpayers

• 44% for higher rate taxpayers

• 49% for additional rate taxpayers

That’s four percentage points higher than today’s rates, including the increase already announced last year. If you receive £5,000 of interest that is fully taxable, that means an extra £200 a year in tax, assuming it all falls within the same band.

It’s easy to focus on the interest rate advertised by your bank. But what matters is how much you actually keep. Cash has an important job to do as it gives you security, covers unexpected expenses and pays for things you’re planning in the next few years. But it’s worth asking whether you’re holding the right amount of cash for your needs, and whether it’s in the best place for you.

Some welcome news for cash ISAs

The planned reduction in the cash ISA allowance has been scrapped. You’ll still be able to put up to £20,000 a year into cash ISAs, provided you haven’t used that allowance elsewhere. It’s one overall ISA allowance, shared across the types you pay into. With tax on savings interest increasing, keeping that interest sheltered from tax becomes more valuable.

It’s a useful reminder to check whether you’re making the most of the allowances already available to you.

Landlords may need to revisit the numbers

From 6th April 2027, property income tax rates of 24%, 44% and 49% will apply in England, Wales and Northern Ireland, subject to any devolved changes. Scottish taxpayers will need to consider the rules that apply to them.

If you own a rental property, take a look at what you’re left with after tax, mortgage costs, repairs, insurance and everything else. 

Then think about your time. Do you enjoy being a landlord? How much work does the property create? Does it still fit with the life you want? The numbers matter, but so does how an investment feels to live with.

The State Pension and the increasingly visible “stealth tax”

The full new State Pension will rise by 3.9% to £13,036.40 a year from April 2027. That takes it above the £12,570 Personal Allowance for the first time.

To prevent some pensioners being drawn into paying small amounts of tax, a new Pension Tax Allowance will apply from 6th April 2027 to 5th April 2030.

Eligible people who have reached State Pension age, or reach it during the tax year, will pay no Income Tax if their total income is no more than the full new State Pension. Those with income slightly above that level will receive a tapered tax reduction.

This doesn’t make the State Pension tax-free for everyone. Eligibility depends on your total income, and arrangements beyond April 2030 remain subject to review.

You could be forgiven for thinking that increasing the State Pension, then introducing another allowance to stop people paying some of it back, feels more complicated than necessary.

The existing triple lock will continue up to and including April 2029. From April 2030, annual increases will be the highest of 2.5%, inflation, or the amount needed to preserve the pension’s value relative to average earnings at its April 2029 level.

For your own planning, the useful thing is to look at all your retirement income together. Your State Pension, private pensions, savings and investments all need to work alongside each other.

Your pension, your family - and remembering yourself

One of the biggest changes was announced before this Budget: from 6th April 2027, most unused pension funds and pension death benefits will be included in your estate for Inheritance Tax purposes.

If you’ve been leaving your pension untouched with the intention of passing it on, or it represents a significant part of your wealth, now is a good time to review what this could mean for you and your family.

Business owners have some extra homework

If you’re thinking about selling your business, the lifetime limit for Business Asset Disposal Relief will halve from £1 million to £500,000 from 6th April 2027. This limits the amount of qualifying gains that can benefit from the relief.

A new Founders’ Relief is also planned from that date, offering a 10% Capital Gains Tax rate on up to £10 million of qualifying lifetime gains. It’s aimed at founders and significant early investors in high-growth, innovative companies, with the detailed eligibility rules still under consultation.

It sounds generous, but it will be targeted. You shouldn’t assume you’ll qualify simply because you founded your business.

There’s also an earlier announcement to remember if you use pension salary sacrifice. From 6th April 2029, only the first £2,000 a year of salary-sacrificed pension contributions will retain the National Insurance exemption. Amounts above this will attract employee and employer National Insurance, while Income Tax relief will continue under the usual rules.

A change for first-time buyers

A new First Time Buyer ISA is due to replace the Lifetime ISA for new savers from April 2029. Existing Lifetime ISA holders will be able to continue using their accounts.

There’s also a change already in place. From 29th October 2026, Lifetime ISA withdrawals for first-home purchases above the £450,000 price cap attract a reduced charge of 20%, rather than 25%, provided the other qualifying conditions are met. Other unauthorised withdrawals still attract the 25% charge.

If you’re helping a child or grandchild save for a home, it’s worth looking at the options together.

When might they buy? What are homes likely to cost? How much flexibility do they need? Those answers will help you work out which account makes sense.

You don’t have to work it all out today

A Budget can create that familiar feeling that you’re behind. That everyone else understands what’s happening and you should already have done something about it.

You don’t need to know every tax rule. You need to understand which changes affect you, when they happen and whether your plan needs adjusting. Are your savings in sensible places? Does your retirement income still work? Can you afford to help your family while keeping enough for yourself?

And perhaps the question that gets lost most easily: what do you actually want your money to make possible?

More time with the people you love. Less pressure at work. A trip you keep talking about. The reassurance of knowing you have enough.

The Budget matters. Understanding changes to tax rules and making good use of your allowances can help your money work harder and leave you with more to spend, save or share.

That’s why it’s worth taking the time to understand what affects you. Every sensible adjustment can help support the life you want to live. 🩷