Bristol businesses urged to act on ‘complex and far-reaching’ Budget changes, say experts at Hazlewoods Tax Budget Breakfast

Leading South West accountancy and business advisory firm Hazlewoods has successfully hosted its first Tax Budget Breakfast in Bristol, bringing together local business owners, advisers and high earners to unpack the impact of the Autumn Budget.

Held at Bocabar in Finzels Reach the event provided a clear and practical analysis of the key tax changes announced by the Chancellor, with Hazlewoods experts warning that several measures will require Bristol businesses to review plans sooner rather than later.

Among the areas highlighted as immediate priorities for Bristol SMEs and high earners were: inheritance tax reforms and new succession-planning pressures; property and income tax changes affecting higher-value homeowners and investors; innovation incentives with direct implications for Bristol’s thriving tech and engineering sectors; new rules around pensions; and ISAs and VCTs, impacting choice and tax reliefs.

The event was hosted by Nick Haines, Partner and Head of Tax, supported by contributions from experts across the firm who specialise in topics covered in the recent Budget.

Nick said: “With the Chancellor facing an alleged £30bn fiscal gap, the 2025 Budget delivered a wide-ranging package of tax increases aimed at balancing the books while maintaining higher than expected public spending.

“The continued freeze on income tax and national insurance thresholds through to 2030/31, projected to raise £13.4bn annually, alongside new property, savings and dividend tax rates from 2026 and 2027, will have a direct impact on many Bristol business owners, workers and high earners.

“With the tax landscape becoming increasingly complex the importance of proactive planning and seeking expert advice advances, so it was encouraging to see such a strong turnout from local businesses wanting to understand the implications.”

Rebecca Wass, Bristol-based Hazlewoods Director, specialising in Innovation and Corporate Tax added: “Although the Budget included targeted enhancements to schemes such as EMI, EIS and VCTs, as well as allowing for some stability to settle around R&D incentives alongside the introduction of an Advance Assurance Scheme, many attendees expressed concern about the UK’s competitiveness. They also raised questions about how these changes affect investment, hiring and the ability to drive long-term economic growth.

“For Bristol’s founder-led businesses, fast growing tech and scaling companies, in addition to high-value property owners, the detail really does matter. The Budget creates both risks and opportunities, but only for those who act early.”

Becki Copping, Partner Head of the Hazlewoods Bristol office said the turnout demonstrated strong demand for clear, local insight: “This was our first Budget Breakfast in Bristol, and the engagement from the business community shows how important these conversations are. We’re proud to be supporting the city’s entrepreneurs and advisers as they navigate an increasingly complex tax landscape.”

As a full-service accountancy firm, Hazlewoods offers a personalised approach to their comprehensive range of audit, accounting, tax, corporate finance and broader advisory services, all offered from their Bristol office.

One of the largest independent accountants and business advisers in the South West and Wales, Hazlewoods has over 600 employees based in Cheltenham, along with a growing presence in Cardiff and Bristol. The firm specialises in accounting and advisory services for both corporate and private clients and is particularly well-known for its specialist sectors across the UK.