Autumn Budget 2026: What Landlords and Property Investors Should Watch on 28 October
The Autumn Budget 2026 lands on 28 October. Here is what is already confirmed for landlords, what is only rumoured, including capital gains tax and the mansion tax threshold, and what to check before Budget day.
Quick answer: The Autumn Budget 2026 is on Wednesday 28 October 2026. Several property tax changes are already legislated or announced and will happen whatever the Budget says: higher dividend tax since April 2026, new property income tax rates of 22%, 42% and 47% from April 2027, and the High Value Council Tax Surcharge on £2 million-plus homes from April 2028. The main unknowns for landlords are capital gains tax, the mansion tax threshold and council tax reform. The Prime Minister has ruled out changing stamp duty at this Budget. Don't sell or restructure on rumour alone, but do know your numbers before 28 October, because some tax changes, like the 2024 capital gains tax rise, take effect on Budget day itself.
Every Budget brings a wave of speculation about landlords, and the Autumn Budget 2026 is no different. This time the backdrop is tighter than usual: inflation is rising again, the Bank of England is weighing rate rises, and the government needs revenue. This guide separates what is already confirmed from what is only rumoured, explains which changes would hit buy-to-let investors hardest, and sets out what to check before 28 October.
When is the Autumn Budget 2026?
The Chancellor confirmed the date in a letter to the Treasury Select Committee on 31 July 2026: the Budget will be delivered on Wednesday 28 October 2026, alongside a new economic and fiscal forecast from the Office for Budget Responsibility. The full Budget documents and tax policy papers are published on GOV.UK straight after the speech.
What is already confirmed for landlords?
These changes were announced at the November 2025 Budget or earlier. They are not up for debate on 28 October, so plan around them now.
| Change | When | Who it affects |
|---|---|---|
| Dividend tax: ordinary rate 8.75% to 10.75%, upper rate 33.75% to 35.75% | April 2026 (already live) | Landlords who own through a limited company and pay themselves dividends |
| Property income tax rates of 22%, 42% and 47%, with finance cost relief at 22% | April 2027 | Individual landlords outside Scotland |
| Savings income tax rates rise by 2 points to 22%, 42% and 47% | April 2027 | Anyone with taxable savings interest |
| Unused pension funds brought into inheritance tax | April 2027 | Investors relying on pensions for estate planning |
| High Value Council Tax Surcharge of £2,500 to £7,500 a year on homes worth £2 million or more | April 2028 | Owners of high-value homes in England, including let property |
The dividend, savings and property rate changes are set out in HMRC's policy paper on changes to tax rates for property, savings and dividend income. From April 2027 the Personal Allowance will also be set against employment, trading or pension income first, which can push more rental profit into a higher band. We explain the full effect in our guide to the landlord tax rise in 2027.
The High Value Council Tax Surcharge consultation confirms that the legal owner pays, not the occupier. That means a landlord who lets a £2 million-plus property pays the surcharge even though the tenant pays the ordinary council tax. Our guide to the mansion tax for landlords covers the bands and the valuation process.
What could change at the Autumn Budget 2026?
None of the following is confirmed. Treat each item as a scenario to model, not a fact.
Capital gains tax
Capital gains tax on residential property is currently 18% for basic-rate taxpayers and 24% for higher and additional-rate taxpayers. The Prime Minister has previously said he wants to look "in detail" at aligning capital gains tax more closely with income tax, and capital gains tax reform has featured in several pre-Budget proposals. If rates rose towards income tax rates, landlords selling rental property would pay significantly more. Our guide to capital gains tax on UK property explains how the gain is worked out and the 60-day reporting rule.
The mansion tax threshold
There have been reports that the High Value Council Tax Surcharge threshold could be lowered from £2 million to £1.5 million. The government has not confirmed this. A lower threshold would bring many more London properties into scope, including some buy-to-let flats and houses in prime areas.
Council tax reform and land value tax
Council tax in England is still based on 1991 valuations, and the Prime Minister has previously supported replacing property taxes with a land value tax. A full revaluation or replacement would be a multi-year project, so any Budget announcement is more likely to be a consultation than an immediate change.
What has been ruled out
Asked about changing or scrapping stamp duty, the Prime Minister said: "That won't be happening." Stamp duty reform remains a longer-term debate, with a parliamentary committee calling for a consultation on alternatives, but it is not expected on 28 October. The 5% surcharge on additional dwellings stays. Our stamp duty calculator uses the current rates.
Why the backdrop makes tax rises more likely
The Budget lands at an awkward moment. Consumer price inflation rose to 3.1% in August 2026, and the Bank of England expects it to reach slightly above 4% in early 2027 because of higher energy prices. Rising inflation and interest rates increase the cost of government borrowing and put pressure on the public finances. Wealth and property taxes are a common target when a government has committed not to raise the headline rates of income tax, National Insurance or VAT.
Higher interest rates matter to landlords in their own right. We explain why fixed mortgage rates are rising even though the Bank Rate is on hold in our guide to mortgage rates in September 2026.
What should landlords do before the Autumn Budget 2026?
- Don't sell on rumour. Selling a property to beat a capital gains tax rise that never comes means paying tax and transaction costs early for nothing.
- If you were selling anyway, understand timing. Capital gains tax changes can take effect on Budget day: in October 2024, the capital gains tax rate rise applied from the day of the Budget. For an unconditional contract, the disposal date for capital gains tax is normally the date of exchange, not completion.
- Know your numbers under each scenario. Run your rental profit through our income tax calculator and a planned sale through the capital gains tax calculator, then repeat with higher rates.
- Review your structure. The April 2026 dividend rise already changed the numbers for company landlords, and the April 2027 property rates change them for individuals. Compare both with our limited company vs personal calculator.
- Take advice before acting. Restructuring a portfolio can trigger stamp duty and capital gains tax. Speak to a tax adviser who knows your position.
We will publish an update on what the Autumn Budget 2026 actually means for landlords once the documents are out on 28 October.
Frequently Asked Questions
When is the Autumn Budget 2026?
Wednesday 28 October 2026. The Office for Budget Responsibility publishes its economic and fiscal forecast on the same day.
Will capital gains tax on property go up in the Autumn Budget 2026?
It is not confirmed. Aligning capital gains tax with income tax has been discussed, but no proposal has been published. Current residential rates are 18% and 24%.
Will stamp duty change in the Budget?
The Prime Minister has ruled out changing or scrapping stamp duty at this Budget. The 5% surcharge on additional dwellings is expected to stay.
Do landlords pay the mansion tax if a tenant lives in the property?
Yes. The High Value Council Tax Surcharge is charged to the owner, not the occupier, from April 2028 on properties in England worth £2 million or more.
Should I sell my rental property before the Budget?
Only if selling already made sense for other reasons. Tax rumours are a poor basis for a sale. If you do sell, check the exchange date against the Budget date with your adviser.
Key Takeaways
- The Autumn Budget 2026 is on 28 October 2026, with a new OBR forecast on the same day.
- Already confirmed: dividend tax up from April 2026, property income tax at 22%, 42% and 47% from April 2027, and the £2 million-plus council tax surcharge from April 2028.
- Possible but unconfirmed: capital gains tax alignment, a lower mansion tax threshold and council tax reform.
- Stamp duty changes have been ruled out for this Budget.
- Model each scenario with real figures and take advice before selling or restructuring.
This article is general information, not tax or financial advice. Budget measures are not known until they are announced, and the details that matter are in the published documents. Speak to a qualified tax adviser before making decisions based on expected changes.