SUMER NI has welcomed the announcements made during the UK Autumn Budget, delivered by Chancellor Healey today (Wednesday 28 October), which encourage new businesses and support for entrepreneurs, while acknowledging that higher wage bills and tax changes will put pressure on many local firms
With UK growth performing well as the third-fastest-growing economy among the G7 nations, the Government has avoided major tax shake-ups and focused instead on targeted measures to stimulate more start-ups, support women in technology and help small businesses scale.
Among the main headlines, the Budget has introduced founders’ relief at 10% for a lifetime allowance of £10 million and leaves capital gains tax unchanged. However Business Asset Disposal Relief (previously Entrepreneurs Relief) has been halved from £1 million to £500k. The trading allowance rises from £1,000 to £3,000, while the Enterprise Management Incentive (EMI) limit is doubled to help smaller companies attract and retain talent. The changes to employee share schemes are intended to help businesses reward staff and support growth.
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Caroline Keenan, Head of Tax at Sumer NI, said: “This Budget sends a positive signal that the Government remains committed to supporting businesses, entrepreneurs and founders, with a particular focus on driving investment, innovation and long-term economic growth across the UK and in Northern Ireland. While the reduction in Business Asset Disposal Relief from £1 million to £500,000 may impact some business owners considering succession or exit plans, the wider package is focused on encouraging entrepreneurship and growth. Enhanced support for founders, changes to employee share schemes and measures to help businesses attract and retain talent all reinforce a pro-business approach.
“For Northern Ireland, that message is strengthened by targeted investment in the local economy. Funding for a new Northern Ireland Investment Summit will help showcase the region's strengths to potential investors, while £7.5 million for cybersecurity jobs and skills supports Northern Ireland's growing reputation as a hub for innovation and technology. Together, these measures create opportunities for local SMEs to invest, expand and create jobs, helping businesses capitalise on a more growth-oriented environment.”
She added: “There are pressures too. The 3.5% rise in the National Minimum Wage will increase wage bills for many SMEs, while the reduction in Business Asset Disposal Relief may affect business owners planning a sale or succession. A collective 4% increase in tax on savings and property income will also affect those with income from these sources.
“The Budget increases Small Business Rate Relief in Great Britain from £12,000 to £18,000. However, Northern Ireland’s SMEs are still awaiting confirmation of an agreed Executive budget and the allocation of £10 million earmarked for Small Business Rate Relief will need to be actioned.”
The British Business Bank has also doubled its funding for women founders to £20 million, while the Government has introduced a 2% surcharge on banks, taking the top rate to 28%.
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Caroline continued: “A growing economy gives us a real opportunity to build on the stability this Budget provides. The Barnett consequential will be important, and the Executive must now ensure that any additional funding translates into real support on the ground, particularly the £10 million earmarked for small businesses by agreeing a budget for Northern Ireland.
“Sumer NI also believes Northern Ireland’s dual market access remains a significant competitive advantage that is not yet being fully exploited. If the UK wants to stimulate more start-ups, Northern Ireland has a unique offer. The proposed Investment Summit gives businesses and agencies the ideal platform to promote this dual access, and we look forward to working with Invest NI’s new leadership on that.”
Sumer NI is hosting an Autumn Budget 2026 Breakfast Briefing on Tuesday 24 November from 8am – 11am in the Europa Hotel. Click here to register: https://sumerni.co.uk/autumn-budget-2026-breakfast-briefing/.
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