Budget 2026
Budget 2026 and your take-home pay
The Chancellor's Budget is on Wednesday 28 October 2026 (GOV.UK: Chancellor's letter confirming the Budget 2026 date). We will update this page and the calculator with any change to income tax, National Insurance or student loans once it is published.
What is already decided
These were announced at the November 2025 Budget and apply unless the government changes them (GOV.UK: Budget 2025, overview of tax legislation and rates):
- In England, Wales and Northern Ireland, the Personal Allowance stays at £12,570, and the income tax bands and the main National Insurance thresholds stay frozen, until April 2031. Scottish bands are set each year by the Scottish Parliament.
- Dividend tax rates rose to 10.75% and 35.75% from April 2026.
- Savings income rates, and property income rates in England and Northern Ireland, are due to rise to 22%, 42% and 47% from April 2027.
- The Plan 2 student loan threshold is due to stay at £29,385 from 2027/28 to 2029/30 for English borrowers.
- From 6 April 2029, pension salary sacrifice above £2,000 a year is due to pay National Insurance (GOV.UK: Salary sacrifice reform for pension contributions from 6 April 2029).
What frozen thresholds mean
When pay rises but the allowance and bands stay the same, a larger share of your income is taxed, and more people move into the 40% band at £50,270. Use the pay rise calculator to see how much of a rise you keep.
Scotland
Scottish income tax rates for 2027/28 are set separately by the Scottish Parliament, which usually agrees them in February after the Scottish Budget.
Last updated 20 October 2026.