The Meaningful Money Personal Finance Podcast Budget 2025 - Roger and Pete respond!
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Nov 27, 2025 Roger and Pete dive into the November 2025 Budget, dissecting key financial changes. They explore income tax shifts, including a 2% increase affecting property and savings. The discussion highlights the impacts of freezing tax thresholds, capital gains tweaks, and inheritance tax implications. They also examine the new EV mileage charge and a council tax surcharge for high-value properties. Throughout, they keep the focus on practical financial planning insights, steering clear of politics and delivering key takeaways on emerging financial trends.
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Fiscal Drag Raises Hidden Tax
- Freezing tax thresholds quietly raises taxes over time via fiscal drag.
- Pete and Roger call this a long stealth tax that increases revenue as wages rise.
Complex 2% Rise On Non‑Employment Income
- The government added 2% to income tax rates for property income and savings, with staggered effective dates.
- Dividend rates rise differently, creating complexity and timing mismatches across income types.
IHT Changes Disrupt Farmers And SMEs
- Inheritance tax relief changes hit farmers and family businesses hard, causing substantial planning work.
- Transferability of the new £1m allowances between spouses eases but doesn't remove the disruption.