Prime accountants warn business owners not to panic in the wake of the budget announcement
By Paislei Godley, Director
The latest Chancellor, John Healey, took office on 20 July and was quick to announce the Autumn Budget, which is set for 28 October.
West Midlands-based Prime Accountants are warning businesses not to fret ahead of the Budget.
Paislei Godley, a Director at Prime, said: “Before the Budget last year, we saw huge speculation about what was going to be included.
“From ISA allowances to the rates of Income Tax, there was speculation on everything that may affect businesses and individuals.
“This caused mass panic and, in the end, the 2025 Autumn Budget underwhelmed businesses as headlines were revealed as blatant fabrications.”
There were many reasons as to why speculation on the last Budget was so high: the announcement was made late, information was leaked prematurely and business confidence was low.
Business owners must not get pulled into the stream of misinformation this year, Paislei advised: “There are better things to do for your business than fret over what the budget may have in store for them.
“There is no point in speculation. We will know what the budget has in store for businesses on 28 October, and not a moment sooner.
“We have already seen the efforts that our new Prime Minister, Andy Burnham, is making towards supporting individuals across England. The Budget will be where we see how he is going to support businesses.”
While Andy Burnham has not been Prime Minister for long, he is already making strides to help the British public, including the 20 per cent business rate relief on pubs, £2 bus fare caps and a pledge to remove VAT from electricity bills
While we do not yet know if the Chancellor will carry on down the same path in the Budget, businesses must not begin to panic.
Paislei said: “If you have concerns about what the outcome of the Autumn Budget will be, get in touch with us here at Prime.
“While we cannot predict the Budget, we can help you plan for any issues that may arise. We can use financial forecasting to determine how you are likely to be affected by any changes to your circumstances once the Budget is read.
“Once the budget is read, we can work with you to ensure you understand the policies that will affect you and what your next steps need to be.”
