Rachel Reeves will stand up in the House of Commons on 26 November 2025 to deliver the Autumn Budget and the impact will be far-reaching.
You may have already noticed the impact of the anticipation of the upcoming Autumn Budget, as your clients have likely changed their behaviour already.
We know that law firms are impacted by the Autumn Budget as much as anyone else, so we want to help you understand how to handle the uncertainty and brace for any big changes.
What are the concerns about the Autumn Budget?
With a sizeable hole in the economy that needs filling, there is an expectation that the Autumn Budget will be challenging for many.
Tax hikes seem inevitable and the only real question centres on who will be left holding the bag.
Regardless of where tax hikes are implemented, you will undoubtedly have clients who are directly impacted and seeking legal advice to keep their costs down.
When taxes, allowances or thresholds are frozen or adjusted, people delay property moves, rethink major life events and push back on discretionary work.
Private client teams feel this in slower probate and estate planning instructions, while conveyancing pipelines can be disrupted by hesitation and uncertainty.
For those solicitors handling corporate matters, there may be an increase in postponements of transactions as businesses reassess valuations and timing.
With the ongoing changes to Inheritance Tax (IHT), you will likely find more Wills being rewritten as assets and finances are gifted and restructured ahead of any major deadline.
All of these changes are punctuated by a drumbeat of your own financial pressures.
The job market has shrunk recently, with no signs of growth and your law firm may be one of the many struggling with recruitment.
In spite of 52 per cent of small law firms having stated that they wanted to hire more staff over the last year, economic pressures may have curtailed some of this.
This might be resulting in the perfect storm of fewer staff needing to handle more complex work from clients who are panicked about their finances.
How can law firms prepare for the Autumn Budget?
Learning to handle the turbulent economic climate both in how your law firm is managed and how you can advise clients, will be essential if you are to manage the impact of the Autumn Budget.
For small firms that are looking to recruit and retain more staff, it is worth considering what makes the work you offer rewarding.
Smokeball can help take some of the tedium away from work and ensure that you have the time and energy to help your clients tackle their needs head-on.
Rather than having your time consumed by trawling through emails and compiling legal documents, you could be having in-depth conversations with clients, building rapport and ensuring that you are giving them the in-depth advice that will keep them coming back.
Having a healthy relationship with a range of clients is the best way to mitigate any negative impact from the Autumn Budget, as you can maintain your steady cash flow while cementing your reputation as a dependable law firm.
Our AI, Archie, is on hand to summarise conversations and provide tailored templates for legal documents so you can get straight on with helping clients.
None of us may truly know what the future holds and how the Autumn Budget may change things, but Smokeball’s versatility lets you be ready for anything.
Book a demo today to find out how Smokeball can help your law firm prepare for the future!
