As the first Autumn Budget under Andy Burnham’s leadership approaches, individuals are being encouraged to take a closer look at their financial situations. The Budget, set to be delivered by new Chancellor John Healy on 28 October, is expected to bring major changes to tax and spending policies. Financial experts suggest reviewing current investments, as there are hints that capital gains tax — the tax on profits from selling assets like property or shares — may rise, or the annual exempt amount — the amount of gain that is tax-free each year — could decrease. People are advised to check their unrealised gains (profits not yet sold) and any unreported losses from the past four years to better understand how these changes might affect them. It is important not to make hasty decisions, such as selling assets, based on speculation. Tax rates and thresholds usually remain the same until the end of the current tax year, giving people several months to think through their options. Meanwhile, those with Lifetime ISAs — a savings account that offers a 25% government bonus on contributions — will continue to benefit from this incentive. These accounts can be a helpful addition to a pension plan, especially for those who pay basic-rate tax. However, the Lifetime ISA scheme is expected to change in the future. There is no immediate need to rush into property purchases, as the Prime Minister has confirmed that stamp duty — the tax paid when buying a home — will remain unchanged this year. However, people are encouraged to create or update their wills and inheritance plans, as changes to inheritance tax — the tax on assets passed on after death — are expected. Around half of UK adults do not have a valid will, which can complicate the distribution of assets, particularly for those in unmarried partnerships. Pension decisions are highlighted as important and should not be made quickly, as previous predictions about changes to tax-free cash policies — the lump sum people can take from their pensions — have turned out to be incorrect. It is also recommended to top up Individual Savings Accounts (ISAs), as the annual allowance — the maximum amount that can be saved in an ISA each year — will change from 6 April 2027. For those under 65, the cash ISA allowance will drop to £12,000. Regular contributions can help maximise the use of the allowance before the deadline.