Your 2026 Financial Checklist — What You Need to Know After the 2025 Budget

Let’s make a plan that helps you truly thrive—not just get by.

By Rachel Edwards, Thrive Together Financial Planning

December is here — and with the Autumn Budget behind us, it’s the perfect time to look ahead to 2026 with clarity and confidence.

The 2025 Budget introduced important updates affecting pensions, inheritance, tax planning, and the way high earners and business owners manage their wealth. If you want your money to work smarter next year, this guide is for you.

Key Budget Changes That Matter for 2026

• Here’s what the government confirmed in the Autumn Budget (based on official HM Treasury and GOV.UK documents):

  ✔ Pension death benefits to count towards inheritance from 2027

  The government has reaffirmed that unused pensions and certain death-benefits will begin forming part of an individual’s estate for IHT purposes from 6 April 2027.

  This is a major shift — especially for families with significant pension wealth.

  ✔ Continued fiscal pressure for high earners

  While not all details were finalised, the Budget signaled ongoing measures that increase tax pressure on higher earners and those with income from dividends, property or investments.

  ✔ State Pension to rise in April 2026

  The State Pension will rise in line with the triple lock, confirmed at 4.8% from April 2026.

  ✔ Ongoing focus on simplifying tax reliefs and pension rules

  The government also indicated future consultations on tax reliefs, business structures and pension flexibility.

  What this all means:
  If you are a high earner, business owner, have multiple pensions, or expect to inherit wealth, the landscape is changing — and 2026 is your year to get ahead.

Your 2026 Financial Planning Checklist

A simple, practical list you can work through now:

1. Review and consolidate pensions

Many people have 3–10 old pots. Tidying them up helps reduce charges, improve performance, and ensure your beneficiaries are protected ahead of the 2027 changes.

2. Check your pension beneficiaries

This is critical for estate planning. Many nominations are out-of-date or missing entirely — which can impact who receives what.

3. Optimise tax efficiency

High earners should review:

• dividend income

• rental income

• salary vs dividends

• pension contributions

• ISA usage

Small adjustments can reduce tax drag over the long term.

4. Business owners: review profit extraction

If you're a director, now is the time to assess:

• pension contributions

• director pensions

• relevant life policy opportunities

• salary/dividend blend

• business protection

5. Review your protection policies

Life changes — salaries increase, businesses grow, families evolve. Protection should evolve too.

6. Estate planning clarity

With IHT rules tightening in 2027:

• trusts

• gifting

• planning around pension death benefits

• inheritance equalisation
  should now be considered proactively, not reactively.

Real Examples From Clients This Year

Client A — 8 old pensions, no clear picture

We consolidated some of their pensions, updated all beneficiaries, and prepared for 2027 IHT changes. They left with clarity and a manageable retirement plan.

Client B — a high-earning business owner

We restructured their pension contributions and profit extraction, lowering future tax and strengthening retirement planning.

Client C — recently inherited money

We built a plan around tax-efficient investment, protection needs, and long-term financial stability.

Good planning isn’t about complexity — it’s about clarity.
And clarity is what I help you achieve.

How I Support You Going Into 2026

Existing clients:

At your annual review, I will:

• update you on how Budget 2025 affects you,

• review your 2027 estate position,

• ensure your pension and tax planning remain aligned.

If anything changes sooner, I’ll be in touch directly — no need to worry or guess.

Not a client yet?

I offer a free, no-obligation 30-minute consultation for:
✔ high earners
✔ business owners
✔ individuals with multiple pensions
✔ people receiving an inheritance
✔ anyone worried about IHT or future rules

Let’s make 2026 the year your financial life becomes organised and stress-free.

What To Do Next

The next few months are a crucial window for planning. Between now and the end of the tax year, small strategic moves can make a huge difference to your long-term position.

If you’re unsure where to start — or if you’re wondering how these Budget updates could affect your finances — now is the time to have that conversation.

🎄 Wishing You a Warm & Peaceful Christmas

Your finances shouldn’t feel overwhelming — especially at this time of year.
A little preparation now means more peace of mind later.

Merry Christmas,
Rachel xx

Final thought

Let’s review your pensions, investments, and estate planning to ensure your wealth keeps working for you — and not against you.

👉 If you want to thrive tomorrow, the best time to start is today.

Book a free consultation today: www.thrivetogetherfp.co.uk/contact

⚠️ This blog is for informational purposes only and does not constitute financial advice. Tax rules depend on individual circumstances and are subject to change. The value of pensions and investments can fall as well as rise. You may get back less than you invested. Always seek personalised advice before taking action.