Budget 25: Do the tax changes meet the tenets?

In this episode, we rate the Budget against ICAEW’s ten tenets for a better tax system, focusing on the government’s decision to freeze the personal allowance and tax thresholds for an additional three years, the new tax on electric vehicles and changes to the NIC treatment of salary sacrificed pension contributions. 

• Budget: Freeze on personal allowance extended - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-freeze-on-personal-allowance-extended
• Budget: New levies include charge on electric vehicles - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-new-levies-include-charge-on-electric-vehicles
• Budget: NIC saving on salary sacrifice pension contributions capped - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-nic-saving-on-salary-sacrifice-pension-contributions-capped
• Budget: Taxes on property, savings and dividends increased - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-taxes-on-property-savings-and-dividends-increased
• Budget: Changes made to VAT rules and processes - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-changes-made-to-vat-rules-and-processes
• Budget: Government will not regulate tax advisers - https://www.icaew.com/insights/tax-news/2025/nov-2025/budget-government-will-not-regulate-tax-advisers
• Tax Faculty Budget update 2025 - https://www.icaew.com/technical/tax/tax-faculty/webinars-and-recordings/tax-webinars/2025/28-11-2025-budget-update
• How to fix VAT - https://www.icaew.com/technical/tax/vat/how-to-fix-vat

Host
Stephen Relf, Technical Manager, Tax, ICAEW

Guests
Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
Ed Saltmarsh, Technical Manager, Tax, ICAEW

Producer
Ed Adams

Episode published 1 December 2025

Episode recorded 28 November 2025