Now that the dust has settled on the Autumn Budget, we can begin to assess out situation here in Stockport. 

Among the key changes in this year's budget was the freezing of income tax thresholds until 2031. This means that the rate at which tax begins to apply will remain fixed, and not in line with inflation. 

Another big change concerns salary sacrifice pension contributions. It will now be harder for people to use salary sacrifice to save for their pension, especially if they work in the private sector. 

Salary sacrifice is a way of allocating money from your salary to go towards your pension, making it easier to save for retirement. However, from 2029, salary sacrifices above £2,000 will now be subject to National Insurance Contributions

Nonetheless, IFS director Helen Miller said that most other measures in the budget were "skewed broadly towards those who are richer", and that the chancellor has "raised more in order to spend more".

Wealth management company Quilter similarly said "the Chancellor's second Budget focused on restoring stability and confidence". 

But what does the Budget mean for us here in Stockport? 

The experts at Beech Tree Financial Advice have shared their insight.

Left: Eden Campbell, financial planner at Beech Tree Financial Advice / right: Claire Lee, chartered financial planner and company director at Beech Tree (Images supplied)

"There was significant speculation before the Budget about major changes to pensions and taxation, but the final measures were far more measured than expected", said Eden Campbell, financial planner at Beech Tree Financial Advice.

"Although some adjustments will still have an impact—particularly through what many would class as 'stealth taxes'—the outcome was considerably less disruptive than feared. 

"The additional clarity now gives people a firmer foundation for their financial planning."

Claire Lee, chartered financial planner and company director at Beech Tree, added: "There were so many months of speculation that covered almost every subject. 

"In the end, income tax rates didn't change and there weren't the changes to pensions that some expected, around tax free cash. The future changes to pension salary sacrifice arrangements will not bode well though with working people trying to save for a healthy pension in retirement.

"The personal taxes went up due to the fact that allowances never increased so, assuming people's income does increase each year, even only in line with inflation, more of their income will be taxed. 

"Not an exciting budget for those trying to save for the future but at least we can put to bed for now the various rumours about such things as pension tax free cash and gifts for Inheritance Tax (IHT) planning, that have been circulating for some time before the budget."

Browse more financial planning information and services on the Beech Tree Financial Advice website here.

Or, book an appointment to visit their office in Heaton Chapel at Ashbourne House, 334 Wellington Road North.

Approver Quilter Financial Services Ltd. December 2025

~

Free from clickbait, Stockport Nub News is a quality online newspaper for our town.

To get our top stories in your inbox each week, subscribe to our free weekly newsletter HERE.

Please consider following Stockport Nub News on Facebook or X