UK Money: ISAs, Pensions, Stamp Duty and Bills — 2026-09-26
With six weeks to go until the Autumn Budget on 28 October, speculation is intensifying over ISA reforms, pension inheritance tax changes and possible tax rises under new Prime Minister Andy Burnham and Chancellor John Healey. The state pension is on track to rise 3.9% under the triple lock next April, while the energy price cap will increase to £1,723 from 1 October. Meanwhile, fresh data shows residential property sales in England and Wales fell nearly 20% after stamp duty threshold changes.
UK Money: ISAs, Pensions, Stamp Duty and Bills — 2026-09-26
Top developments
Triple lock to lift state pension by 3.9% next year — but calls to scrap it pile up
Wage growth used to set the triple lock slowed to 3.9%, meaning the state pension is on course to rise to around £13,000 a year from next April — equivalent to £241.30 a week, per Budget trackers. With the budget looming, Guardian columnist Gaby Hinsliff argues the issue "cannot be avoided any longer" and that Burnham and Healey must find a fair reform, while This is Money's Alex Brummer writes it is "time to scrap" the lock. The £13,000 full New State Pension would exceed the frozen £12,570 personal allowance, raising the prospect of pensioners paying income tax on the pension for the first time.
Budget tax hikes mulled on property, capital gains and inheritance
One month out from the 28 October Budget, commentators report that property, capital gains tax and inheritance tax could all be on the table. Confirmed measures already in the frame for 6 April 2027 include a tax increase on savings and rental income, a new £12,000 annual limit on cash ISA deposits for under-65s, and unused pension pots being included in a person's estate for IHT purposes. The Independent highlights the £20,000 ISA allowance as a "rule set to change" and urges readers to protect their money ahead of the Budget.(3 days ago)
Energy price cap rises to £1,723 from 1 October
Ofgem's announced cap for a typical household paying by Direct Debit will be £1,723 a year from 1 October 2026 to 31 December 2026, up from the £1,663 level applying between July and September. Cash/cheque and quarterly bill payers face a higher equivalent cap (£1,795 on the prior quarter's terms). Around 11 million households on fixed tariffs will be unaffected by the rise.
Property sales plunged nearly 20% after stamp duty threshold change
Residential property sales in England and Wales plummeted in the year to March 2026, down nearly 20%, in the wake of the April 2025 stamp duty threshold cuts — evidence that stamp duty costs are a barrier for buyers. The slump lands in the middle of Budget speculation that property taxation could be reformed again next month.
Local view
Polish-language outlets serving UK migrants are closely tracking the Budget tax angle: bham.pl reports the Chancellor has not ruled out rises to CGT, property and inheritance taxes after the autumn Budget, and also flags that millions of pensioners face a key change as the full New State Pension rises to roughly £13,036 a year — above the frozen £12,570 tax-free allowance. Polish Express reports HMRC will refund £19 million in overpaid tax to over three million pensioners who paid too much tax on their state pension.
Context & numbers
- State pension: heading for ~£13,000/a year (£241.30/week now) after a 3.9% triple-lock rise; still pending formal Budget confirmation.
- Cash ISA reform: confirmed £12,000 annual deposit limit for under-65s, planned from 6 April 2027.
- Energy price cap: £1,723/yr (typical, DD) 1 Oct–31 Dec 2026, vs £1,663 in Jul–Sep.
- Property: England and Wales residential sales down nearly 20% year to March 2026 after threshold changes.
On the radar
- 28 October 2026 — Autumn Budget Day; expect confirmation (or not) on cash ISA limits, pension IHT, CGT and property tax measures.
- Triple-lock confirmation — Business Secretary Reynolds declined to rule out taxing the state pension from next year; the final uprating decision is expected at the Budget.
- October changes bundle — new DWP powers, Vinted fee changes and inflation data land in October alongside the Bill increase.
- Rumour: think tanks including the FT-quoted Resolution Foundation and Tony Blair Institute are pressing to scrap the triple lock — no government decision has been announced.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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