Autumn Budget: Inheritance Tax Thresholds Frozen Until 2031

The Autumn Budget confirmed that the inheritance tax (IHT) nil-rate bands will remain frozen until April 2031. This applies to both the main nil-rate band (NRB) and the residence nil-rate band (RNRB).

Last year’s Autumn Budget had already extended the freeze to 2030, but the Chancellor has now added a further year.

A Threshold Unchanged Since 2009

The main IHT threshold has stayed at £325,000 since 2009, with the RNRB at £175,000.
Because these thresholds haven’t risen with inflation, more families are being caught by IHT each year. If the NRB had increased in line with inflation, it would now be close to £525,000.

IHT receipts continue to climb: between April and October this year, the Treasury collected £5.2bn, £200m more than the same period last year.

Pensions Brought Into Focus

IHT planning has gained renewed attention since the government confirmed that unused pensions will fall within IHT from April 2027. This means IHT could apply to unspent pension funds and death benefits.

Concerns have been raised about whether personal representatives (PRs) will have enough time to gather the necessary information, especially as pension scheme administrators can take up to two years to determine beneficiaries. Meanwhile, estates will still face the standard IHT payment deadline of six months after death, after which interest charges apply.

Despite industry pressure to revise the plans, the government intends to proceed. The changes are forecast to raise around £1.5bn annually by 2029/30, with the average IHT bill expected to rise by £34,000.

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The Budget Is Out – Here’s What It Means for You

The Chancellor has released the latest Budget, and while headlines focus on the big announcements, our team at Clear Finance is already examining the details to understand what the changes really mean for your money.

Over the coming days, we’ll be sharing insights, guidance and practical tips on our website, covering the areas that matter most to households and long-term planners, including:

  • Savings

  • Pensions

  • Household budgets

  • Long-term financial planning

If you’re a Clear Finance client and would like to discuss how the Budget may affect your individual circumstances, we’re here to help. Whether you have questions about your savings, pension arrangements or future financial goals, our advisers are ready to offer tailored support.

Get in touch with us anytime for personalised guidance.

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How Inflation, Interest Rates and the 2025 Budget Could Shape Your Finances This Year

The financial landscape in the UK continues to shift, with inflation gradually easing, interest rates stabilising, and new Budget measures set to influence households throughout 2025. For many families, the challenge is understanding how these moving parts fit together, and what they mean for day-to-day finances and long-term planning. At Clear Finance, we believe that informed decisions lead to stronger financial outcomes, so here’s a breakdown of what to expect in the months ahead.

Inflation: What Falling Rates Really Mean

After several years of high inflation eroding household spending power, the rate has now started to decline. While this is positive news, the effects of the last few years are still being felt. Many essentials, from food to energy remain significantly more expensive than they were pre-inflation spike. The Budget offers limited direct relief in this area, meaning it’s more important than ever for households to review their spending habits, track rising costs and avoid unnecessary borrowing.

A period of lower inflation can, however, provide an opportunity to rebuild savings or reallocate money towards long-term goals. Those with emergency funds may want to reassess whether their savings are keeping pace with inflation now that rates have changed.

Interest Rates: Are We Finally Near a Turning Point?

The Bank of England has kept interest rates high in an effort to control inflation. While this strategy is working, it has come at a cost for borrowers. Mortgage holders, in particular, have felt the pressure with fixed-rate deals ending and new products often significantly more expensive.

Most analysts now expect gradual cuts later this year or early next year. If this happens, mortgage rates could begin to ease. However, it’s unlikely they will return to the ultra-low levels seen before 2021. For homeowners close to remortgaging, the current environment demands careful planning and forward thinking. Speaking with a financial adviser early can help you understand your options.

Budget Measures: Planning Ahead in a Period of Change

This year’s Budget offered targeted support in areas like working-age benefits, childcare and energy policy, but major tax changes were limited. The ongoing freeze on tax thresholds means more people will drift into higher tax bands as wages rise—a phenomenon known as “fiscal drag.” This makes strategic tax planning increasingly important, especially for higher earners and business owners.

Taking Control of Your Financial Future

Understanding how inflation, interest rates and Budget decisions interact is key to maintaining financial stability. If you want support navigating these changes, or simply want to future-proof your finances, Clear Finance is here to guide you.

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Smart Financial Planning Strategies : What Every Household Should Consider

The start of a new tax year is a natural moment to reassess your finances, set new goals and ensure your money is working as hard as possible. With the latest Budget confirming several freezes, reforms and long-term policy commitments, 2025 provides both challenges and opportunities for households looking to build financial resilience.

Here are the key areas worth prioritising this year:

1. Reviewing Your Savings and Cash Strategy

Rising interest rates over the last two years have transformed the savings landscape. Many high-street banks still offer low rates, but competitive options are available if you’re willing to shop around. Cash ISAs, easy-access accounts and fixed-rate savings products can all play a role depending on your goals.

With inflation now easing, real returns on savings are improving. Consider whether your current accounts are still competitive and whether you could benefit from splitting savings across multiple products, for example, keeping your emergency fund accessible while placing longer-term money into higher-yield options.

2. Taking Advantage of Tax-Efficient Allowances

Tax planning has become more important as thresholds remain frozen and more people experience “fiscal drag.” A few key allowances you should review each year include:

  • ISA contributions

  • Pension annual allowance

  • Personal savings allowance

  • Dividend and capital gains allowances

  • Marriage allowance eligibility

Making full use of these can significantly improve your long-term financial position—especially for families, self-employed individuals and higher-rate taxpayers.

3. Strengthening Your Retirement Strategy

Retirement planning is evolving, particularly with the proposed changes bringing unused pension funds into the inheritance tax (IHT) net from 2027. This means your pension strategy must be considered not just in terms of income, but overall estate planning.

Key considerations include:

  • Are you contributing enough to meet your retirement goals?

  • Are your pension investments still aligned with your risk level?

  • Have you reviewed your beneficiary nominations recently?

  • Would consolidating older pensions simplify your financial picture?

Speaking with a professional can help ensure you’re making the most efficient decisions.

4. Reviewing Protection and Household Budgeting

From mortgage protection to income protection, many households hold outdated or insufficient cover. With higher living costs, unexpected events can have a larger impact than before. Likewise, reviewing your monthly budget can help identify inefficiencies and redirect money toward more important goals.

Building a Strong Financial Future

2026 offers a chance to reset, refine and strengthen your financial foundations. Whether you’re looking to grow your savings, plan for retirement or simply feel more confident about your finances, the Clear Finance team is here to support you every step of the way.

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Comprehensive Financial Planning: Why a Holistic Approach Wins

When you think of financial advice, you might picture pensions or mortgages. But the most effective plans are holistic, covering your income, your assets, your protection, your lifestyle and your goals. At Clear Finance in Doncaster we believe in complete financial planning, so every piece works together to support where you want to go, not just where you are.

The limitations of “one product” thinking

Many people jump from one financial product to another, a mortgage here, a pension there, a life insurance policy somewhere else — without looking at how they fit together. The result? Inefficiencies, overlaps, gaps, or missed opportunities. A standalone product might be fine, but it may not optimise your entire journey.

A holistic view

Clear Finance reviews all key areas:

  • Income and expenditure, today and tomorrow.

  • Mortgages or borrowing commitments – how they affect cash flow and goals.

  • Protection (life, critical illness, income) – ensuring risk is managed.

  • Savings and investments – what’s growing, how safe, how liquid?

  • Pensions and retirement plans – working in harmony with other savings.

  • Lifestyle goals – holidays, children’s education, business plans or down-shifting work.

Benefits of holistic advice

  • Clarity and purpose: You understand how each element links to your objectives.

  • Improved efficiency: Avoid paying for overlapping cover, missing tax breaks, or being underinvested.

  • Greater flexibility: When life changes (job switch, marriage, children, illness) you have a plan that adapts.

  • Peace of mind: You’re not just buying the next product — you’re shaping your future with confidence.

How Clear Finance delivers it

We start with a face-to-face consultation: understanding you, your lifestyle, your ambitions. Based on that, we analyse your current position (assets, liabilities, cover, pensions, cash flow) and we help you set realistic goals (retirement age, income target, lifestyle). Then we create a plan recommending the best options (whole-of-market) and help you implement the plan. We review regularly, because life changes, and your plan should too.

If you’ve been putting off financial advice because you thought it was just for the wealthy, or you thought “I’ll do it later”, now is the moment to act. Book a complimentary initial consultation with Clear Finance in Doncaster. Let’s look at the big picture together and build a plan that works not just now, but for the decades ahead. Call us on 01302 835938 or visit our office in Doncaster town centre.

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Budget 2025: What Could Be on the Horizon?

With the chancellor confirming that the Autumn Budget will take place on 26 November, the annual rumour mill has begun. Speculation is already swirling about possible tax changes, and for good reason. After a turbulent first year, the government is battling weak growth, rising long-term borrowing and falling approval ratings. Yet its self-imposed promise not to raise income tax, National Insurance (NI) or VAT for “working people” has left it with few obvious levers to pull.

A recent newsletter we received highlighted what Rachel Vahey, head of public policy at AJ Bell, has addressed as five areas the chancellor may be tempted to explore:

1. Extending Frozen Tax Thresholds

Tax thresholds are currently frozen until 2028. Extending the freeze would pull more people into higher tax bands (“fiscal drag”), but the chancellor previously ruled this out for personal income tax and NI – reversing that stance could be politically awkward.

2. A ‘Mansion Tax’

An annual property tax on homes worth over £500,000 has been floated, potentially replacing stamp duty. Details are scarce, and this may be a case of “kite-flying” to gauge public reaction.

3. Another Move on Capital Gains Tax (CGT)

After last year’s CGT rise, there’s speculation about further changes, including equalising CGT rates with income tax. Any move would likely need to be implemented immediately to avoid a rush of asset sales before April.

4. National Insurance on Retirement Income

Applying NI to retirement income would be controversial. It’s unclear whether it would break the government’s promise not to raise taxes on “working people,” but it would almost certainly be unpopular – particularly with pensioners still frustrated over the winter fuel payment changes.

5. Inheritance Tax (IHT) Changes

With farmers and pensions already affected by recent measures, the chancellor could turn to IHT. Lowering allowance thresholds, tightening gift rules or extending the seven-year rule wouldn’t generate fast revenue but might still be seen as an option.

And What About Pensions Tax Relief?

Changes to tax-free cash or contribution relief aren’t on the official list, but rumours continue. These are especially sensitive for public sector workers with defined-benefit pensions, where even small tweaks could prompt strong resistance – including strike threats.

Why This Matters for Clients

All this speculation creates uncertainty for long-term planning and undermines confidence in saving for retirement.

We understand clients will be looking to you for clear, balanced advice. Clear Finance will also offer advice to help you make sensible, long-term decisions rather than reacting to rumours will be more important than ever as the Budget approaches.

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Clear Finance: A Reputation Built on Trust and 5-Star Service

In today’s world, choosing the right financial partner can feel overwhelming. Whether you’re applying for a mortgage, looking for the right insurance policy, or seeking expert financial advice, you want reassurance that the company you’re working with is reliable, knowledgeable, and trusted by others. At Clear Finance in Doncaster, we’re proud to say our reputation speaks for itself.

Across multiple platforms including Google Business, Facebook, and Yell, Clear Finance has consistently earned 5-star reviews from clients who appreciate our professionalism, transparency, and personal approach. For us, it’s not just about numbers and paperwork – it’s about guiding people through some of life’s biggest financial decisions with confidence and clarity.

Why Clients Recommend Clear Finance

Our clients’ feedback highlights the values that set us apart:

  • Clear and honest advice – We take the time to understand your goals and explain your options in simple terms.

  • Stress-free processes – Whether it’s a first-time mortgage or a complex insurance requirement, our team makes the journey straightforward.

  • Reliable communication – Clients consistently praise our updates, quick responses, and the reassurance we provide throughout the process.

  • Going the extra mile – From urgent home insurance to securing the best mortgage lender, we’re here to deliver solutions when you need them most.

Here’s what some of our customers have said:

  • “Connor helped us from start to finish on our first mortgage application – stress free and easy.”

  • “Steve always comes through and helped us out with constant updates and great communication.”

  • “Ali and Nikki were very knowledgeable and helped me secure urgent home insurance when others couldn’t.”

A Reputation You Can Trust

At Clear Finance, our goal is simple: to provide financial advice and solutions that make a real difference to people’s lives. The trust we’ve built online reflects the trust we’ve earned in person – one client at a time.

So, if you’re looking for a mortgage, insurance, or financial guidance in Doncaster and beyond, choose the company that people are consistently rating 5 stars. With Clear Finance, you’re not just a number – you’re a valued client, and your peace of mind is our priority.

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What the Latest Interest Rate Cut Means for You

Bank Rate Drops to 4% — What Happened?

On 7 August 2025, the Bank of England’s Monetary Policy Committee voted by a slim 5–4 majority to reduce the Bank Rate from 4.25% to 4%, marking the fifth cut in just over a year. It’s the lowest level since March 2023.

The vote was particularly tight. One member initially pushed for a larger cut but settled on 0.25% after a second round of voting; the first time such a procedure was needed in the Committee’s history.

Why This Matters for You

Borrowers (Especially with Variable-Rate Mortgages)

If you’re on a tracker or variable-rate mortgage, your payments should soon fall, great news as borrowing becomes cheaper. Even if you’re on a fixed rate, newer deals are reacting to the base rate, so now could be a smart time to remortgage or compare offers.

Savers

This is where the picture gets trickier. Many banks have already cut savings rates—some by more than 0.5%—in response to the Bank Rate drop. At the same time, inflation rose to 3.8% in July, and is projected to peak at 4.0% in September. That means your savings may now be losing real value.

Inflation & Economic Outlook

Despite the rate cut, inflation remains high—driven by rising food and transport costs—and the BoE expects it to breach 4% in September before easing.

While most economists anticipate one more cut later this year (likely November) and possibly another in early 2026, optimism is cautious given inflation’s persistence.

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Clear Finance’s Everyday Solutions

Money worries affect more than just your wallet, they can impact your stress levels, family life, and future plans. At Clear Finance, we believe everyone deserves straightforward financial help they can trust. That’s why our team in Doncaster offers eleven different financial services designed specifically for everyday people.

Whether you’re struggling to stay on top of existing payments, need help purchasing a vehicle, or just want some breathing space, we’re here to help. Our services include mortgage advice, pensions, savings, insurance advice, and more, each one tailored to fit your unique circumstances, not a generic checklist.

We understand that not everyone has perfect credit or a flawless financial history, and that’s okay. Clear Finance is built on real-world understanding, offering support without judgement and advice you can actually use. Our friendly team explains everything in plain language and makes sure you fully understand your options before making any decisions.

What sets us apart is our local, personalised approach. As a Doncaster-based team, we’re proud to support individuals and families across South Yorkshire and beyond. We’ve helped hundreds of people take control of their finances, and we’d love to help you too.

Clear Finance exists to make financial support easier, not harder. With eleven flexible services at your fingertips, getting back on track has never been more accessible. From everyday challenges to longer-term planning, we’re by your side.

If you’re ready to take the first step towards better financial health, reach out to Clear Finance today.

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Clear Finance – Everyday Financial Support You Can Trust

At Clear Finance in Doncaster, we understand that managing money isn’t always straightforward. Whether you’re juggling everyday bills, dealing with unexpected expenses, or planning for the future, having access to practical and reliable financial support can make all the difference.

That’s why we offer a wide range of financial services, tailored to help everyday people take control of their finances. Our approach is built around real-life situations, offering accessible solutions with no hidden surprises. Our services are designed to relieve pressure and help you move forward with confidence.

We know that everyone’s financial situation is unique. That’s why we take the time to listen, understand your circumstances, and guide you to the right solution. You don’t need to be a finance expert, that’s our job. We’re here to simplify the process, explain everything clearly, and support you every step of the way.

Based right here in Doncaster, Clear Finance is proud to serve our local community with a friendly, non-judgemental approach. We’re not a big faceless lender, we’re your neighbours, ready to help you find the right path to financial clarity.

If you’re looking for finance that’s clear, honest, and built around real needs, we’re here for you. Get in touch today to learn more about how our eleven tailored financial services can support your goals.

For more information about our Financial Services and products in Doncaster call 01302 835938

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 Clear Finance  | 6 South Parade, Doncaster, South Yorkshire, DN1 2DY
Phone: 01302 835938 | Email: [email protected]
FCA : 482616

Clear Finance  authorised and regulated by the Financial Conduct Authority under FRN 482616. 6 South Parade, Doncaster, South Yorkshire, DN1 2DY. Clear Finance  are a credit broker and not a lender. We offer credit facilities from a panel of lenders.

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