The 2025 Autumn Budget was rather uninspiring – largely because of the doom and gloom predications in the run up to it – and it being leaked in full before Chancellor Rachel Reeves had even stood up to deliver it in the House of Commons!
The Chancellor admits the Budget will mean working people will have to 'contribute a bit more' - but denies breaking a manifesto pledge.
This year’s budget had a significantly different flavour to last year’s. The theme of the Autumn 2024 Budget was large increases in spending punctuated by smaller increases in taxes - this year it was revenue-raisers. The Chancellor’s lack of room to increase borrowing meant a more sombre background to this Budget.
While we were initially believed we would see increases in income tax rates, the Chancellor opted for a piecemeal approach. Thresholds for personal taxes have been frozen yet again, which brings more people into higher rates of tax. Other smaller tax rises include higher taxes on property, savings and dividends income; restrictions on salary sacrifice, higher taxes on gambling, a new tax on electric cars and a new high-value surcharge on properties in England.
Set against a continued challenging economic backdrop and worsening forecasts, Tax Partner Colin Hamilton gives a round-up of key business-related announcements from Labour’s second Budget:
"The Walker Group has worked with Dutton Moore for more than 30 years. They have acted on behalf of all the Group’s companies and the family and are trusted and highly experienced business accountants, auditors and business advisers."
Lee Davies, A.C.A, Financial Director, Walker Group
"We have worked with Dutton Moore for many years and have always received a first-rate service. The team at Dutton Moore provide us with invaluable accountancy, strategic planning and business advice as we continue to be a growing business in this region."
Simon Gibson, Director at Simon Gibson Transport Ltd, Goole, East Yorkshire
Grain merchants and farmers, Burstwick, East Yorkshire:
Jeremy Saunt, Director at Johnson and Saunt
"We have been clients of Dutton Moore for more than 20 years – they carry out all our accountancy work and business advice, their service and attention to detail is outstanding."
"Dutton Moore are an excellent provider of financial services for significant Hull based businesses such as Smales. We have worked with the firm for many decades and are guaranteed sound financial and business advice, alongside the general accountancy services that they provide. What is key for my Company is the direct involvement of the partners with the Smales management."
Robin Orr B.Com; C.A; C.T.A, Financial Director, F.Smales & Son (F.M.) Ltd, Hull
"Having worked with Dutton Moore for many years now, we have always found the service extremely professional, prompt and courteous. As a growing business over the years their advice has been exemplary and without their valuable assistance in accounting and strategic planning we would have found the many transitions of growth a lot more challenging."
Richard Spencer, Commercial Director, Spencer Signs Ltd, Hull
The 2025 Autumn Budget was rather uninspiring – largely because of the doom and gloom predications in the run up to it – and it being leaked in full before Chancellor Rachel Reeves had even stood up to deliver it in the House of Commons! The Chancellor admits the Budget will mean working people will have to 'contribute a bit more' - but denies breaking a mani...
Chancellor Rachel Reeves MP has set out her spending review in the House of Commons this afternoon. It outlines how much funding individual government departments will receive over the next three years and state infrastructure investment for the next four years. The Chancellor said the government’s priorities are health, security and the economy. The last spendi...
DUTTON MOORE congratulate Jack on recently obtaining a High Achiever Award and an Accountancy Award through his hard work and dedication. The awards were presented to Jack from Wyke College who commented: “Jack proved himself to be an extremely hardworking and committed student of Accountancy throughout the 2 years of the course. He conti...