The Autumn Budget landed on 28th October. And unless you’ve got a particular passion for tax thresholds and government announcements, there’s a good chance you caught the headlines and got back to your day.
Fair enough.
But buried in all the Budget noise are a few things worth knowing if you work in finance, recruit finance people or are thinking about your next move.
So we’ve done the digging.
Here’s what matters for your salary, your team and your plans for 2027. Without the political commentary or unnecessary jargon.
Your Tax Bands Aren’t Budging
Let’s start with your payslip.
Income tax and key National Insurance thresholds are staying frozen until April 2031, according to the latest HMRC rates and allowances. For most employees in England, Wales and Northern Ireland, the personal allowance remains at £12,570, with the higher-rate income tax threshold sitting at £50,270. Scotland has its own income tax bands.
Nothing new there. The freeze was extended in the 2025 Budget. But here’s the catch…
As salaries go up and tax thresholds stay put, more of your earnings can become taxable or fall into a higher tax band. It’s a bit like your jeans shrinking in the wash. Same jeans. Suddenly a tighter fit.
What does that mean if you’re considering a new job?
Don’t just look at the salary on the offer letter. A £5,000 pay rise sounds lovely. And it is. But depending on where your salary sits, the amount that actually lands in your bank account could be quite different. Look at the whole package. Salary, bonus, pension, benefits and flexibility. Because a bigger number on paper doesn’t always mean a better deal.
Minimum Wage Is Going Up. And It Could Affect Your Finance Team.
From April 2027, the National Living Wage for anyone aged 21 and over increases by 3.9% to £13.21 an hour. For 18 to 20-year-olds, the minimum wage rises to £11.27.
Now, most finance roles already pay more than this. So why should you care? Because when the bottom moves up, everything above it starts to feel the squeeze. Think about your accounts assistants, purchase ledger clerks and junior finance team members. If someone can earn almost as much in a role that doesn’t require finance experience, qualifications or studying towards AAT, you might find yourself having some interesting conversations about pay. And rightly so.
Your junior finance people are often the ones keeping the wheels turning. Processing invoices, chasing payments, reconciling accounts and making sure things don’t fall apart at month-end. They deserve a salary that reflects that.
Our advice for employers?
Don’t wait until someone hands in their notice to find out your salaries aren’t competitive. Have a look at what you’re paying now. Our free Salary Benchmark service can help you understand where your salaries sit against the market. It’s much easier to have a sensible conversation about pay now than an expensive conversation about replacing someone later.
Non-Compete Clauses Could Be Getting a Shake-Up
This is an interesting one.
The government has announced plans to tackle non-compete clauses that make it harder for people to move jobs and for growing businesses to hire. The initial proposals focus on removing barriers for startups and scaling businesses, with a wider consultation on restrictive employment practices planned.
The government’s detailed position is expected in early 2027. Before anyone gets too excited, nothing has changed yet. But it’s worth keeping an eye on.
We’ve all come across situations where a brilliant candidate wants to make a move, but there’s a clause in their contract making things complicated. Or a business finds exactly the person it needs, only to discover there’s a restriction on where they can work next. For finance professionals, particularly those in senior roles or specialist sectors, this could eventually make moving between businesses a little easier.
If you’re a candidate: Have a proper read of your contract before you start interviewing. Understand your notice period and any restrictions around competitors, clients or colleagues.
If you’re an employer: It’s probably worth checking your contracts too.
Are those restrictive covenants genuinely protecting your business? Or have they been sitting in the same template since 2009 because nobody’s thought to question them? Either way, this is one we’ll be watching.
Share Options Are Getting a Bit More Interesting
If you’re working in a growing business, or thinking about joining one, this is worth knowing.
Company Share Option Plans (CSOP) are being rebranded as EMI2, with changes to employee share schemes coming from 6 April 2027. The individual share option limit doubles from £60,000 to £120,000. Eligible employees will also be able to benefit from EMI2 alongside the existing £250,000 Enterprise Management Incentives (EMI) allowance, without the EMI2 options reducing that allowance. The maximum option exercise period is also increasing from 10 to 15 years.
In short, businesses will have more flexibility when it comes to rewarding people through share options. That’s particularly interesting for founder-led, private equity-backed and growing businesses. And we see why.
Sometimes the most exciting finance opportunities aren’t the ones offering the biggest basic salary. They’re the ones where you can genuinely make a difference, help build something and potentially share in the value you create. But there’s a catch.
Not all share schemes are created equal.
If you’re offered equity as part of a package, ask questions.
When does it vest? What happens if you leave? What would it cost to exercise your options? And when might those shares actually be worth something you can access?
Because a share option you don’t understand is just a very optimistic number.
So, What Does All This Mean for Finance Hiring?
The good news?
This Budget hasn’t brought another big, across-the-board increase in employer hiring costs like the National Insurance changes we saw in April 2025.
The slightly less exciting news?
There’s still plenty for employers to think about heading into 2027.
Minimum wage increases could put pressure on junior salary bands. Changes to unfair dismissal rights from 1 January 2027 will reduce the qualifying period for ordinary unfair dismissal protection from two years to six months in Great Britain. The cap on compensatory awards is also being removed. And potential changes to non-compete clauses could eventually open up parts of the candidate market that have historically been harder to access.
None of this means you need to panic. But it does mean planning ahead is probably a good idea.
If you’re thinking about growing your finance team in Q1, now is the time to get organised.
Work out what you need. Get your budgets signed off. Make sure the salary you’re offering reflects the market. And be realistic about what you’re asking for. Because there’s nothing more frustrating than spending weeks interviewing for a Finance Manager, Financial Controller or Finance Director, only to discover your salary expectations and the candidate market are living on different planets.
We’ve written about this before in Salary Benchmarking: Are You Accidentally Underpaying Your Team (And Losing Them)?.
Getting the salary right at the beginning makes everything easier. And if you can get your hiring plans sorted before Christmas, you’ll be in a much better position when January arrives. While everyone else is still trying to remember their passwords.
Thinking About Moving Jobs in 2027?
Here’s our take.
The Budget shouldn’t be the thing that decides whether you move jobs. Your career should. If you’re happy, challenged, well rewarded and learning, brilliant. But if you’ve been thinking about making a change, don’t let another year disappear while you wait for the perfect moment. Just make sure you know what you’re moving for.
Is it more money?
Great. Just understand what that increase looks like after tax.
Is it a better overall package?
Look beyond the basic salary. Pension, bonus, flexibility, progression and share options can make a real difference.
Is it the opportunity to do something bigger?
Sometimes a move into a growing business, a more commercial role or a company going through change can do more for your career than another few thousand pounds.
And don’t forget to check your contract before you start the process. Notice periods and restrictive covenants can affect how quickly you can make a move.
If you’re not sure what your experience is worth in the current market, have a look at how we approach salary benchmarking for finance professionals. Or just give us a call. We’re always happy to have a conversation about what’s happening in the market. No pressure. No hard sell. Just a proper chat.
Want to Know What Your Salary Should Look Like?
Whether you’re building a finance team or wondering what your next move could look like, it helps to know what the market is actually paying. That’s where we come in. Our free We Do Salary Benchmark service helps businesses understand what competitive finance salaries look like.
And if you’re a finance professional thinking about your next step, we’re always happy to share what we’re seeing in the market. Because good recruitment isn’t about filling a vacancy or chasing a bigger salary. It’s about getting the right people into the right businesses. And making sure it works for everyone.
hello@wedorecruitment.com
0208 713 8000
