When was the 2026 Spring Forecast?
- Confirmed
The Spring Forecast was announced in Parliament on Tuesday 3 March 2026 by the then Chancellor of the Exchequer, Rachel Reeves.
- Confirmed
The Office for Budget Responsibility’s March 2026 Economic and fiscal outlook was published on the same day.
Spring Forecast or Spring Statement?
In earlier years the government’s spring fiscal event was called the Spring Statement, for example Spring Statement 2025. In 2026 GOV.UK published it as the Spring Forecast.
In the Spring Forecast speech, the then Chancellor said the government had “committed to a single major fiscal event a year”, limiting major policy changes to the Budget.
Did the Spring Forecast change personal taxes or pensions?
The official Spring Forecast speech and HM Treasury press release published on GOV.UK did not announce new changes to personal taxes, pensions, ISAs, inheritance tax or property taxes.
The rules that applied from the start of the 2026-27 tax year on 6 April 2026 are set out below. Where those rules changed on 6 April 2026, the changes were announced before the Spring Forecast.
Pensions
- In force
For the 2026-27 tax year, the pension annual allowance is £60,000 and the lump sum allowance is £268,275.
- In force
The full rate of the new State Pension is £241.30 a week.
- Legislated – from 6 April 2027
Under the Finance Act 2026, most unused pension funds and pension death benefits will count towards your estate for inheritance tax for deaths on or after 6 April 2027.
Tax
- In force
The income tax personal allowance for 2026-27 is £12,570. The Finance Act 2026 freezes the personal allowance and basic rate limit until the end of the 2030-31 tax year.
- In force – since 6 April 2026
Dividend income above the £500 dividend allowance is taxed at 10.75% (basic rate), 35.75% (higher rate) and 39.35% (additional rate).
- In force
Capital gains tax is charged at 18% and 24%, and the annual exempt amount for 2026-27 is £3,000. Business Asset Disposal Relief is charged at 18% on gains on qualifying assets disposed of from 6 April 2026.
- In force – since 6 April 2026
Sole traders and landlords registered for Self Assessment with qualifying income over £50,000 in the 2024-25 tax year should have started using Making Tax Digital for Income Tax from 6 April 2026.
Savings and investments
- In force
In the 2026-27 tax year, the maximum you can save in ISAs is £20,000.
- Announced, not yet law
The government has announced that, from 6 April 2027, the cash ISA limit will be £12,000 for people under 65. The regulations to make this change have been consulted on but not yet made.
Inheritance tax and estate planning
- In force – since 6 April 2026
A £2.5 million allowance applies to the combined value of property qualifying for 100% business property relief or agricultural property relief, with relief at 50% above it. Any unused allowance can be transferred to a surviving spouse or civil partner.
- Legislated – to 2030-31
The inheritance tax nil-rate band is £325,000 and the residence nil-rate band is £175,000. The Finance Act 2026 extends the freeze on these thresholds to the 2030-31 tax year.
Property and mortgages
- In force
Stamp Duty Land Tax (England and Northern Ireland): first-time buyers pay no SDLT up to £300,000 and 5% on the portion from £300,001 to £500,000. The relief is not available if the price is over £500,000.
- Legislated – from 2027-28
From the 2027-28 tax year, income tax on property income will be charged at 22% (basic rate), 42% (higher rate) and 47% (additional rate). Rates for taxpayers in Scotland and Wales may differ; check GOV.UK for how they apply to you.
What comes next
The next Budget, the 2026 Autumn Budget, will be delivered on Wednesday 28 October 2026. Our Autumn Budget page sets out what is confirmed ahead of it.