30/10/2026
If you watched Wednesday's Budget and came away thinking “Right… was that it?”, you probably weren’t alone! 😅
It might not have been the blockbuster Budget some were expecting, but there were still a few announcements worth paying attention to, particularly for small businesses and trades.
🚐 Business mileage
If you use your own car or van for work, the 55p-per-mile tax-free mileage rate for the first 10,000 business miles is being made permanent.
And from 6 April 2027, the rate after 10,000 miles will rise from 25p to 35p per mile.
⛽ Fuel duty
The temporary 5p-per-litre cut has been extended, with the planned increase pushed back until 1 July 2027.
💷 Minimum wage
From 1 April 2027, the National Living Wage for workers aged 21 and over will rise to £13.21 an hour.
If you employ staff, that’s one to factor into payroll and your staffing costs for next year.
There was also an increase in the Trading Allowance from £1,000 to £3,000 from April 2027, aimed particularly at people with smaller amounts of trading income.
So, perhaps not the most action-packed Budget we've ever seen, but those are some of the announcements we think are worth keeping on your radar.
And, as always with tax changes, the devil is in the details, so check how the rules apply to your own circumstances before changing anything.
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