Quick answer: the Autumn Budget 2026 is on Wednesday 28 October 2026. It’s Chancellor John Healey’s first. Under the rules and plans in place on 21 October 2026: under-65s can put only £12,000 a year into a cash ISA, the state pension is expected to rise 3.9% to about £250.70 a week, and the £12,570 tax-free Personal Allowance stays frozen. The big things to watch are whether the Personal Allowance is unfrozen, whether the 0% VAT on electricity bills is extended, and how pensioners living only on the state pension will be kept out of tax.
Budget preview — checked 21 October 2026: The speech has not happened yet. This guide separates current rules from proposals and forecasts; it does not report future announcements as facts.
When is the Autumn Budget 2026?
Wednesday 28 October 2026, confirmed by the Treasury (GOV.UK). The speech usually starts after Prime Minister’s Questions, at around 12:30pm. Straight after, the Treasury publishes the full documents on GOV.UK, and the Office for Budget Responsibility publishes its forecasts.
What’s already changing, whatever the Budget says
| Change | When | Status |
|---|---|---|
| VAT on qualifying household electricity in Great Britain cut from 5% to 0% (gas still 5%). The government quotes an annualised saving of around £45; the measure is currently temporary. | Since 1 Oct 2026 | In place until 31 March 2027 |
| Cash ISA limit for under-65s falls to £12,000 (total ISA allowance stays £20,000) | 6 April 2027 | Law |
| 22% charge on interest from cash held in Stocks & Shares ISAs | 6 April 2027 | Law |
| State pension rise of 3.9% (to about £250.70 a week) | April 2027 | Forecast; await the official uprating announcement |
| Personal Allowance frozen at £12,570 | Ongoing | Frozen. Watch for change. |
| Most unused pension funds and pension death benefits enter estates for inheritance tax purposes | April 2027 | Announced |
| Proposed triple-lock reform (new formula) | From 2030/31 | Announced policy intention; future implementation required |
I’ve written separate guides on the new ISA rules and the state pension rise to over £13,000.
Budget 2026 and energy bills
In Great Britain, the temporary 0% VAT on qualifying domestic electricity started on 1 October and should come off your bill automatically. You don’t need to call your supplier. It covers qualifying electricity in England, Wales and Scotland, so gas and electricity in Northern Ireland remain at 5%. The government has said the cut is funded for this financial year, with longer-term plans to be decided at the Budget. So whether it continues past March 2027 is one of the things to watch on the 28th.
What to watch for on 28 October
These are the things being talked about. None are confirmed until the Chancellor says them:
- Income tax thresholds: whether the frozen £12,570 Personal Allowance starts rising again. The government has promised not to raise the main rates of income tax, National Insurance or VAT.
- State pension and tax: how people living only on the state pension will be kept out of tax once it goes over £12,570 in April 2027.
- Energy bills: whether the electricity VAT cut is extended.
- Pensions and inheritance tax: more detail on how unused pensions will be taxed from April 2027.
- Fuel duty and “sin taxes”: these often change at a Budget.
Should I do anything before the Budget?
For most people, no. Wait and see. My one big warning: before last year’s Budgets, some people rushed to take tax-free cash from their pensions because of rumours that didn’t happen, and some couldn’t undo it. Don’t make big, permanent money decisions based on headlines. If you’re thinking about your pension, Pension Wise offers a free, impartial appointment if you’re 50 or over.
Things that are worth doing anyway, Budget or not:
- Check your tax code in the HMRC app, especially if you get the Winter Fuel Payment and earn over £35,000.
- Check your State Pension forecast.
- Review the ISA allowance and planned rule changes, while retaining enough accessible money for bills and emergencies.
- If you live in Great Britain, check the VAT treatment of qualifying electricity supplied from 1 October.
Budget 2026 FAQs
What time is the Budget speech?
Usually around 12:30pm, straight after Prime Minister’s Questions. You can watch it live on BBC Parliament or the Parliament website.
When do Budget changes start?
Most tax changes start on 6 April, at the start of the new tax year. Some, like fuel duty or tobacco duty, can start that evening. The Budget documents give the date for each change.
Will the Budget change the state pension rise?
Under the triple lock, the April 2027 rise is expected to be 3.9%. The rise remains a forecast until official rates are published. Proposed reforms for 2030 do not set the April 2027 rate.
Where can I read the full Budget?
On GOV.UK, straight after the speech. The “Overview of Tax Legislation and Rates” and the “Budget in brief” are the most readable documents.
What to do next
Budgets bring plenty of noise and a few changes that actually affect your bills. After the speech, use the official Budget documents to check what has actually changed and when each measure starts.
Last updated: 21 October 2026. Rumours are clearly marked as not confirmed. This is general information, not financial advice.
Primary sources: HMRC electricity VAT measure; HMRC pensions inheritance-tax technical note.
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About the author: Dr Kalpana Govindaraasan is the PhD scientist, former secondary science teacher and mum behind MoneySavvyUK, turning complex household money topics into practical steps.