What next for tax rules under the Labour government?

Tax policy changes likely in first Labour budget

clock • 4 min read

Andrew Tully looks back at the King’s Speech and highlights areas of interest for financial advisers

The first King's Speech of the new government included a Pension Schemes Bill, but much of what was included is a continuation of previous policy rather than anything radically new. Pushing ahead on small pot consolidation, value for money and greater consolidation of schemes mean this Bill continues many of the themes we have seen over the last few years. Labour has said it will create a National Wealth Fund to power investment in infrastructure, green investment and other projects. £7.3bn in state funds has been allocated but it wants to generate much wider additional funds for this...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Clients moving overseas? Everything advisers need to consider

Clients moving overseas? Everything advisers need to consider

Robust cross-border planning essential

Daivd Morley
clock 30 January 2026 • 4 min read
The UK's immigration/tax disconnect on global wealth

The UK's immigration/tax disconnect on global wealth

The UK has no dedicated immigration route for internationally mobile private wealth

John Kiely and Simon Malkiel
clock 29 January 2026 • 6 min read
IHT receipts continue to climb ahead of 2027 pension changes

IHT receipts continue to climb ahead of 2027 pension changes

April – December 2025 saw Treasury net £6.6bn from estates

Jenna Brown
clock 22 January 2026 • 3 min read