Protect your business from CIS supply chain fraud
- 3 steps
UK Act of Parliament
2026
United Kingdom
Finance Act 2026
At a glance
What's here
89 compliance obligations, 9 practical guides across 2 topics · 6 journeys
Penalty landscape
8 of 89 obligations carry an unlimited fine. 26 carry different penalties and 55 have no criminal penalty — flagged in the list below.
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Any Person 54
- Licence Holder 2
- Director or Officer 2
- Responsible Person 1
- Trader 1
Plus 29 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
Step-by-step journeys using this legislation
Walkthroughs that take you from a real business situation to compliance.
Keep and maintain your gross payment status
- 3 steps
Your GPS was cancelled - recovery path
- 3 steps
What regulations apply to my farm?
- 1 step
Farmer compliance checklist
- 1 step
Growing your goods vehicle fleet
- 1 step
Relevant guidance
Practical guides for businesses affected by this Act, ordered by how closely they engage with it.
Supporting — topic alignment
7 guidesMentioned in related content
2 guidesOther Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Any Person also bound by 2338 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
Licence Holders also bound by 221 other Acts (top 5 shown)
- Petroleum (Current Model Clauses) Order 1999 1999 317 duties
- The Petroleum Licensing (Exploration and Production) (Seaward and Landward Areas) Regulations 2004 2004 123 duties
- Human Medicines Regulations 2012 2012 76 duties
- Space Industry Regulations 2021 2021 68 duties
- The Petroleum (Production) (Landward Areas) Regulations 1991 1991 65 duties
Directors and Officers also bound by 425 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 161 duties
- Companies Act 2006 2006 108 duties
- Insolvency Act 1986 1986 72 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 55 duties
- The Housing Administration (England and Wales) Rules 2018 2018 26 duties
Responsible Persons also bound by 104 other Acts (top 5 shown)
- MH(CT)(S)A 2003 2003 45 duties
- Climate Change Levy (General) Regulations 2001 2001 24 duties
- The Offshore Installations (Prevention of Fire and Explosion, and Emergency Response) Regulations 1995 1995 21 duties
- Offshore Installations (Offshore Safety Directive) (Safety Case ) Regulations 2015 2015 21 duties
- The Offshore Installations (Safety Case) Regulations 2005 2005 19 duties
Traders also bound by 826 other Acts (top 5 shown)
- Value Added Tax Regulations 1995 1995 413 duties
- Companies Act 2006 2006 243 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 114 duties
- Insolvency (England and Wales) Rules 2016 2016 62 duties
- Building Societies Act 1986 1986 56 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Part 1 — Income tax, capital gains tax and corporate taxes
Loan charge settlement scheme
Other duties (1) — Crown / regulator
- HMRC must make settlement offers to eligible loan charge borrowers Statutory regulator
Loan charge settlement scheme: inheritance tax
Other duties (1) — Crown / regulator
- Scheme must exclude loan charge loans from inheritance tax liability calculations Crown / Minister / Government department
Browse 62 other sections in this Part — procedural / definitional / commencement
Income tax charge for tax year 2026-27
Main rates of income tax for tax year 2026-27
Default and savings rates of income tax for tax year 2026-27
Increase in dividend ordinary and upper rates
Savings rates of income tax for tax year 2027-28
New rates of income tax on property income
Property rates of income tax for tax year 2027-28
Scottish and Welsh property rates set by Scottish Parliament and Senedd
Freezing starting rate limit for savings for tax years 2026-27 to 2030-31
Basic rate limit and personal allowance for tax years 2028-29 to 2030-31
Charge and main rate for financial year 2027
Standard small profits rate and fraction for financial year 2027
Enterprise management incentives: thresholds and period for exercise
Enterprise investment scheme: increase in amounts and asset requirements
Venture capital trusts: rate of relief and amounts and asset requirements
CSOP schemes and EMI: PISCES shares
Employee car and van ownership schemes
Car or van made available on arm’s length terms
CO
Employment income: miscellaneous exemptions
Disallowing deduction from earnings for additional household expenses
Payment for cancelled shifts etc.
Location of duties of employment where duties not performed
Umbrella companies
Loan charge settlement scheme: supplementary
Main rate of writing-down allowances for expenditure on plant or machinery
First-year allowance for main rate expenditure on plant or machinery
Expenditure on zero-emission cars and electric vehicle charging points
Payments for surrender of expenditure credits
Transition from video games tax relief
Special credit for visual effects
R&D undertaken abroad: Chapter 2 relief only
Restriction of relief on disposals to employee-ownership trusts
Anti-avoidance: collective investment scheme reconstructions
Anti-avoidance: company reconstructions
Anti-avoidance: reconstructions involving transfer of business
Incorporation relief: requirement to claim
Non-residents: cell companies
Non-residents: double taxation relief relating to collective investment vehicles
Abolition of notional tax credit on distributions received by non-UK residents
Non-resident, and previously non-domiciled individuals
Trust protections etc: minor amendments and transitional protection
PAYE for treaty non-residents etc.
Unassessed transfer pricing profits
Transfer pricing reform
International controlled transactions
Permanent establishments
Pillar two
Controlled foreign companies: interest on reversal of state aid recovery
Offshore income gains
Offshore income gains: savings
Legacies to charities to be within scope of tax
Approved charitable investments: purpose test
Tainted charity donations: replacement of purpose test with outcome test
Winter fuel payment charge
Carried interest
Pensions: abolition of the lifetime allowance charge
Collective money purchase schemes and Master Trust schemes
Corporate interest restriction: reporting companies
Corporate interest restriction: capital expenditure and tax-EBITDA calculation
Avoidance schemes involving certain non-derecognition liabilities
Energy (oil and gas) profits levy: decommissioning relief agreements
Part 2 — Inheritance tax
Browse 15 other sections in this Part — procedural / definitional / commencement
Agricultural property relief and business property relief etc
Tax to be charged on certain pension interests
Liability for tax on pension interests
Withholding of benefits and payment of tax by pension scheme administrator
Connected amendments to IHTA 1984
Connected amendments to income tax rules
Commencement of
Rate bands etc for tax year 2030-31
Relevant property: disapplication of exemptions from exit charges
Relevant property: cap on charges for pre-30 October 2024 excluded property
Foreign diplomats etc: periods of UK residence to be disregarded
Minor corrections
Power to make provision about infected blood compensation payments
Scope of exemption for gifts to charities and registered clubs
Section 78: transitional protection for existing interests in possession
Part 3 — Other existing taxes
Rate of remote gaming duty
- Pay remote gaming duty at 40% from 1 April 2026 Any Person
Rates of duty effective from 6pm on 26 November 2025
- Pay tobacco products duty at updated rates from 26 November 2025 Any Person
Rates of duty effective from 1 October 2026
- Pay tobacco duty at new rates from 1 October 2026 Any Person
Vehicle excise duty for rigid goods vehicles with trailers
- Pay updated vehicle excise duty for rigid goods vehicles with trailers Any Person
Vehicle excise duty for vehicles with exceptional loads etc
- Pay increased vehicle excise duty for certain heavy vehicles Any Person
Vehicle excise duty for haulage vehicles other than showman’s vehicles
- Pay increased vehicle excise duty for haulage vehicles Any Person
Vehicle excise duty: expensive car supplement
- Pay the expensive car supplement on vehicles over the new threshold from April 2026 Any Person
Browse 28 other sections in this Part — procedural / definitional / commencement
Zero-rating of leases of vehicles to recipients of disability benefits
Insurance premium tax relief limited to adapted vehicles
Private hire vehicles or taxis
Certain charitable donations not to be treated as supplies of goods
Refunds of VAT to combined county authorities
UK listing relief
General betting duty on remote bets
Abolition of bingo duty
Rates of duty
Vehicle excise duty for light passenger or light goods vehicles etc
Vehicle excise duty for rigid goods vehicles without trailers and tractive units
Rates of HGV road user levy
Rates of air passenger duty
Rates of climate change levy
Rates of landfill tax
Rate of aggregates levy
Aggregates levy: amendments relating to disapplication of levy to Scotland
Rate of plastic packaging tax
Chemical recycling: mass balance approach
Pre-consumer plastic
Sections 105 and 106: commencement
Rates of levy
Amendment of customs tariff power
Dumping and subsidisation investigations
Safeguarding investigations
Customs facilities at approved wharves and other places
Increases to rates of levy
Removal of time limit to claim relief under section 106(3) of FA 2013
Part 4 — Vaping products duty
Excise duty: charge
- Pay excise duty on vaping products you produce or import Any Person
Production of vaping products
- Obtain authorisation before producing vaping products Any Person
Excise duty point and payment
- Pay vaping products duty at the excise duty point Any Person
Issue and management of duty stamps
Other duties (1) — Crown / regulator
- HMRC must arrange the issue and management of duty stamps for vaping products Crown / Minister / Government department
Dealing in unstamped vaping products
- Deal in unstamped vaping products Any Person
Loss and misuse of duty stamps
- Manage duty stamps properly or face a heavy penalty Any Person
Dealing in duty stamps
- Possess or transfer duty stamps not affixed to vaping products Any Person
Dealing in unstamped vaping products
Unlimited fine- Deal in unstamped vaping products Any Person
Sales ban following conviction for unlawful use of premises
Unlimited fine- Breach of court order banning vaping sales from premises Any Person
Offences: penalties
2 years imprisonment- Deal in unstamped vaping products / breach sales ban Any Person
Browse 17 other sections in this Part — procedural / definitional / commencement
Vaping products
Administration
Stamping of vaping products
Approved stamp holders
United Kingdom representatives
Forfeiture
Failure to comply with this Part etc
Forfeiture: civil penalties
Forfeiture: offences
Publication of information
Information sharing
Investigation and enforcement
Regulations: further provision
Regulations: procedure
Amendments of other enactments
Interpretation
Commencement and transitional provision
Part 5 — Carbon border adjustment mechanism
Browse 17 other sections in this Part — procedural / definitional / commencement
Introduction to CBAM
Charge to CBAM
Importation
Goods processed under a special customs procedure
Person liable: the importer
Exemptions
Embodied emissions
Rate
Carbon price relief
Administration and enforcement
Criminal offences
Supplementary amendments
Emissions: meaning etc
Interpretation
Power to make provision for linked emissions trading schemes
Regulations and notices
Commencement and transitory provision
Part 6 — Avoidance
Prohibition of promotion of certain tax avoidance arrangements
Unlimited fine- Do not promote tax avoidance schemes that have no realistic tax benefit Any Person
Civil penalties
- Promote banned tax avoidance arrangements Any Person
Criminal liability of responsible persons
- Personal liability for corporate/partnership offence under section 163 Director or Officer
Promoter action notices
- Comply with HMRC promoter action notice requirements Any Person
Civil penalties
Fine up to £1,000- Fail to comply with a promoter action notice Any Person
Information notices: third parties
Other duties (1) — Crown / regulator
- HMRC must follow procedures before issuing third-party information notices about connected persons Statutory regulator
Content and requirements of notices
Other duties (1) — Crown / regulator
- HMRC information notices must specify what, how and when information is required Statutory regulator
Offence of failing to comply with a notice
Unlimited fine- Fail to comply with an information notice Any Person
Offence of concealing information
- Conceal or destroy information required by HMRC notice Any Person
Criminal liability of responsible persons
- Be personally liable for corporate tax information offences Director or Officer
Criminal liability of responsible persons: no prosecution of recipient
- Consent or neglect leading to non-compliance with HMRC information notice Any Person
Imprisonment or a fine
2 years imprisonment- Commit an offence under section 189, 190 or 192 Any Person
Penalty for inaccurate information
Fine up to £20,000- Provide inaccurate information to HMRC under information notice Any Person
Penalty for disclosing a notice
Fine up to £10,000- Disclose an information notice without authorisation Any Person
Penalty based on monies received
Other duties (1) — Crown / regulator
- Upper Tribunal may impose a penalty equal to monies received for continuing non-compliance Tribunal / Court
Increased daily default penalty
Other duties (1) — Crown / regulator
- Tribunal must determine increased daily penalty for continued non-compliance with information notice Tribunal / Court
Penalties for an incorrect declaration
Fine up to £10,000- Make an incorrect declaration (careless or deliberate) Any Person
Browse 47 other sections in this Part — procedural / definitional / commencement
Meaning of promotion
Procedure
Criminal offence
Interpretation and commencement
Certification of promoters
Preliminary notices
Disclosure of information by HMRC
Appeal against a decision to issue a promoter action notice
Publication
Reporting to regulators etc
Extension of time periods
Reasonable excuse
Interpretation
Connected persons
Anti-avoidance enactments
Information notices: connected persons
Information notices: unidentified connected persons
Information notices: identification
Information notices: financial institutions
Restriction on disclosure of notices
Excepted information
Tribunal approval of notices
Withdrawal of notices
Penalty for failing to comply with a notice
Penalty for concealing information
Extension of time periods
Reasonable excuse
Double jeopardy
Assessment etc of penalties: application of Schedule 36 to FA 2008
Appeals against notices
Appeals against penalties
Interpretation
Application of provisions of TMA 1970
Repeals
Declaration in relation to privileged material
Penalties: procedure, appeals etc
Publication following an incorrect declaration
Time limits for publication
Amendments to existing legislation: removal of privilege exemption
Commencement
Penalties for non-disclosure of tax avoidance schemes
Removal of time limits on publication by HMRC
Consequential amendments
Commencement
Construction industry scheme: amendments
Construction industry scheme regulations: amendments
Commencement
Part 7 — Tax advisers
Application for registration
- Register as a tax adviser with HMRC before interacting with them Any Person
Registration conditions: offences
Unlimited fine- Commit certain tax fraud or evasion offences Any Person
Registration of tax advisers etc
Other duties (1) — Crown / regulator
- HMRC must decide and notify on tax adviser registration applications Crown / Minister / Government department
Suspension of registration
Other duties (1) — Crown / regulator
- HMRC must notify and allow representations before suspending tax adviser registration Statutory regulator
Compliance notice
Other duties (1) — Crown / regulator
- HMRC must follow procedural steps before issuing compliance notices Crown / Minister / Government department
Financial penalties for prohibited interaction with HMRC
Fine up to £10,000- Prohibited interaction with HMRC after compliance notice Any Person
Financial penalties for prohibited interaction with HMRC: liability of relevant individuals
Fine up to £10,000- Cause tax adviser to breach HMRC prohibition while under compliance notice Any Person
Tax advisers: ineligibility orders
Other duties (1) — Crown / regulator
- HMRC must issue ineligibility orders to repeat-offending tax advisers Crown / Minister / Government department
Relevant individuals: ineligibility orders
Other duties (1) — Crown / regulator
- HMRC may issue ineligibility orders to tax advisers and relevant individuals Statutory regulator
Requirement for tax adviser to notify clients of suspension or ineligibility orders
- Notify clients of tax adviser suspension or ineligibility order Any Person
Power to publish information: change of circumstances
Other duties (1) — Crown / regulator
- HMRC must publish changes in tax adviser circumstances and remove outdated information Statutory regulator
Browse 20 other sections in this Part — procedural / definitional / commencement
Prohibition against unregistered tax advisers interacting with HMRC
Meaning of “tax adviser” and “client”
Meaning of “relevant individual” and “officer”
Registration conditions
Registration conditions: interpretation
Monitoring of registration conditions
Reasonable excuse
Extension of period for making representations
Assessment of financial penalties
Time limits and treatment of financial penalties
Double jeopardy
Reviews and appeals
Disclosure of information
Power to publish information
Power to amend Schedule 20 (exceptions)
Interpretation of Chapter
Commencement
Conduct of tax advisers
Power to publish information
Power to publish information: interpretation and commencement
Part 8 — Miscellaneous and final
Data-gathering
- Provide data to HMRC on an ongoing basis Any Person
Power to require digital contact details
- Provide and update digital contact details for HMRC online services Any Person
Modification
- Notify HMRC of changes to investment project after tax clearance Any Person
Misrepresentation
Fine up to £10,000- Provide false information for advance tax clearance Any Person
Browse 25 other sections in this Part — procedural / definitional / commencement
Fiscal mandate assessments prepared by the Office for Budget Responsibility
Persons on whom digital reporting requirements may be imposed
Exemptions from digital reporting requirements
Returns to be delivered by electronic communications etc.
Penalties: amendments consequential on section 258 etc
Powers relating to electronic communications: directions
Penalty points and late submission penalties (power to cancel etc)
Assessments of late payment penalties etc.
Penalties for failure to pay tax due on further appeal
Failure to deliver company tax returns
Clearances
Binding effect
Extension
Information
Commissioners notice
Powers
Interpretation
Cryptoasset reporting: users and controlling persons resident in the UK
International cryptoasset reporting framework: connected matters
Stamp duty: piloting of digital service etc
Oversight of HMRC tax enforcement functions in Northern Ireland
Repeal of obsolete provision in FA 1925 concerning Dominion Governments
Repeal of other obsolete provisions and correction of wrong cross-references
Interpretation
Short title
Schedules
In section 874 (duty to deduct from certain payments of...
- Deduct tax at savings basic rate from yearly interest payments Any Person
In section 939 (duty to retain bonds where issue treated...
- Withhold tax at savings basic rate on bonds treated as interest payments Any Person
(1) This paragraph applies where a registered person, who is...
- Notify HMRC if you take over a deceased or incapacitated registered person’s business Licence Holder
Recovery as a debt due
Other duties (1) — Crown / regulator
- Crown may recover unpaid CBAM as a statutory debt Crown / Minister / Government department
Duty to register with HMRC
- Register with HMRC for importing CBAM goods above £50,000 Trader
Assessments of amounts of CBAM
Other duties (1) — Crown / regulator
- HMRC must assess and notify CBAM amounts due after a relevant default Statutory regulator
Supplementary assessments
Other duties (1) — Crown / regulator
- HMRC must notify you if they issue a supplementary CBAM assessment Statutory regulator
Repayments of overpaid tax
- Claim a refund from HMRC for overpaid CBAM tax Any Person
Deregistration
Other duties (1) — Crown / regulator
- HMRC must deregister eligible persons and notify them, and must give reasons if rejecting a deregistration request Statutory regulator
Penalties payable in connection with this Schedule
Unlimited fine- Fail to register, make a return, pay CBAM, notify HMRC, or keep records Any Person
(1) A person (P) is liable to a penalty if...
Fine up to £500- Fail to notify HMRC of registration changes or death/incapacity Any Person
A person (P) is liable to a penalty of £500...
Fine up to £500- Fail to keep or preserve tax records Any Person
Notification of changed or incorrect information
- Notify HMRC of changes or incorrect information within 30 days Licence Holder
(1) Where a person is liable to a penalty, an...
Other duties (1) — Crown / regulator
- HMRC must notify penalty amounts when assessing penalties Crown / Minister / Government department
Right of other persons to require review
- Require HMRC to review a decision within 30 days of becoming aware Any Person
Duty to review
Other duties (1) — Crown / regulator
- HMRC must review a tax decision when requested Crown / Minister / Government department
Review out of time
Other duties (1) — Crown / regulator
- HMRC must review tax decisions out of time if reasonable excuse Statutory regulator
The review
Other duties (1) — Crown / regulator
- HMRC must review decisions and notify outcome within 45 days Crown / Minister / Government department
Determination on appeal
Other duties (1) — Crown / regulator
- Tribunal must not modify penalty or interest on appeal except under specified powers Tribunal / Court
Payment and accounting periods
- Pay CBAM quarterly by the last working day of the second month after each quarter Responsible Person
(1) A person commits an offence if the person is...
Unlimited fine- Fraudulently evade Carbon Border Adjustment Mechanism (CBAM) Any Person
(1) A person commits an offence if, for purposes connected...
14 years imprisonment- Make false documents or statements for CBAM purposes Any Person
Review out of time
Other duties (1) — Crown / regulator
- HMRC must consider late requests for review if reasonable excuse shown Statutory regulator
Review
Other duties (1) — Crown / regulator
- HMRC must review a decision within 45 days if you accept their offer Statutory regulator
Temporary relief from suspension of registration pending review or appeal: amount of tax etc overdue
Other duties (1) — Crown / regulator
- HMRC must approve application to suspend suspension of tax adviser registration pending review or appeal Statutory regulator
In paragraph 10 (content of file access notice)—
Other duties (1) — Crown / regulator
- HMRC must limit file access to suspected clients only Statutory regulator
After paragraph 23 insert— Increased daily default penalty (1) This paragraph applies if— (a) a penalty under paragraph...
Other duties (1) — Crown / regulator
- HMRC may apply to tribunal for increased daily penalty for continued non-compliance with file access notice Statutory regulator
After paragraph 25 insert— Penalties for inaccurate documents (1) If a person, in purported compliance with a file...
Fine up to £3,000- Provide inaccurate document in response to file access notice Any Person
After Part 3 insert— Part 3A Conduct notices Giving of...
Other duties (1) — Crown / regulator
- HMRC must give conduct notices with grounds and notify withdrawals Statutory regulator
In paragraph 28 (power to publish details)—
Other duties (1) — Crown / regulator
- HMRC must publish details of tax advisers penalised over £7,500 Crown / Minister / Government department
Penalties for failure to provide data to other persons
Fine up to £5,000- Fail to provide required data to other persons Any Person
Penalties for failure to notify
Fine up to £1,000- Fail to notify HMRC as required Any Person
Penalties for failure to provide information
Unlimited fine- Fail to provide information under paragraph 6 compliance requirement Any Person
Penalties for inaccurate or incomplete data
Fine up to £100- Submit inaccurate or incomplete data to HMRC Any Person
Duplication of liability to penalties
- Avoid double penalties for related compliance failures Any Person
Penalties for failure to provide data to HMRC on an ongoing basis etc
Fine up to £5,000- Fail to provide ongoing data to HMRC Any Person
Penalties for failure to apply due diligence procedures
Fine up to £100- Fail to apply due diligence procedures Any Person
Penalties for failure to keep or preserve records
Fine up to £5,000- Fail to keep or preserve records as required by HMRC regulations Any Person
Browse 417 other Schedules — structural / supplementary
ITA 2007 is amended as follows.
After section 11CA, as inserted by section 6(3) of this...
In section 11D (income charged at the savings basic, higher...
After that section insert— Income charged at the savings basic...
In section 12B (individual’s entitlement to a savings allowance), in...
In section 14 (income charged at the dividend ordinary rate:...
In section 15 (income charged at the trust rate and...
In section 16 (savings and dividend income to be treated...
In section 18 (meaning of “savings income”), in subsection (4)(b)—...
In section 31 (total income: supplementary), in subsection (2), after...
In section 55B (transferable tax allowance for married couples and...
In section 6(3) (other rates of income tax)—
In section 55C (transferable tax allowance for married couples and...
In section 399B(3) (which provides for relief for finance costs...
In section 462 (overview of Part 9), in subsection (3)...
In section 463 (general provision about settlements etc)—
In section 479 (trustees’ accumulated or discretionary income to be...
In section 481 (other amounts to be charged at special...
In section 483 (sums paid by personal representatives to trustees),...
In section 486 (how allowable expenses are to be set...
In section 503 (how beneficiary’s income is reduced), in subsection...
In section 6B (the Welsh basic, higher and additional amounts)—...
In section 889 (payments in respect of building society securities),...
In section 919 (manufactured interest on UK securities: payments by...
In section 974 (Real Estate Investment Trusts: regulations under section...
In section 975A (statements about certain payments of interest), in...
In section 989 (definitions), at the appropriate places insert— “property...
In Schedule 4 (index of defined expressions), at the appropriate...
TMA 1970
TCGA 1992
ITTOIA 2005
In section 9 (the trust and dividend trust rate)—
In sections 274AA(5) and 274C(2) (which provide for relief for...
In section 465A (gains from life insurance contracts: amounts for...
In section 466 (gains from life insurance contracts: personal representatives...
In section 467 (gains from life insurance contracts: trustees as...
In section 530 (gains from life insurance contracts: income tax...
In section 533 (meaning of “comparable EEA tax charge”), in...
In section 535 (gains from life insurance contracts: top slicing...
In section 536 (gains from life insurance contracts: top slicing...
In section 537 (gains from life insurance contracts: top slicing...
In section 539 (gains from life insurance contracts: relief for...
In section 9A (overview of sections 10 to 15), in...
In section 669 (reduction in residuary income: inheritance tax on...
In section 680 (beneficiaries’ income etc: income treated as bearing...
After section 680B insert— Income treated as property income (1) This section applies to estate income relating to a...
CTA 2010
FA 2012
Scotland Act 1998
In section 10 (income charged at the basic, higher and...
In section 11 (income charged at the default basic rate:...
In section 11B (income charged at the Welsh basic, higher...
In section 11C (income charged at the default basic, higher...
In section 80C of the Scotland Act 1998 (power to...
Amendments of ITA 2007
Amendments of Government of Wales Act 2006
(1) Section 116D (power to set Welsh rates for Welsh...
(1) Section 116I (supplemental powers to modify enactments) is amended...
In section 116K (report by the Comptroller and Auditor General),...
Reliefs only deductible against income or gains to which they relate
Value of amounts of qualifying overseas capital
Designation where tax paid from other sources
Income tax or capital gains tax reduction where TRF charge paid on same amount
Capital payment derived from foreign income or gains
Amounts derived from designated qualifying overseas capital
Effect on section 65(5)(b) IHTA charge etc
Amendment of returns
Transfers from mixed funds
Commencement of this Part
(1) Section 401C of ITTOIA 2005 is amended as follows....
QAHCs
(1) Section 408A of ITTOIA 2005 is amended as follows....
(1) Section 413A of ITTOIA 2005 is amended as follows....
(1) Section 812A of ITA 2007 is amended as follows....
(1) The amendments made by paragraphs 19(2), 20(2), (3) and...
Children under 10
Residence of personal representatives
Foreign gains treated as accruing when remitted to UK
Capital gains tax: amendments connected with end of remittance basis
Definitions
Introduction
Deemed income under section 732 of ITA 2007
Introduction
In section 690C (employees who were internationally mobile etc. before...
Notifications in respect of treaty non-resident employees
Consequential amendments
(1) Section 690E (direction by HMRC in relation to qualifying...
ITEPA 2003 is amended as follows.
(1) Section 690 (internationally mobile employees) is amended as follows....
(1) Section 690A (employer notification for internationally mobile employees) is...
(1) In section 690D (employer notification for qualifying new residents)—...
(1) In section 690B (direction by HMRC in relation to...
Assessment of transfer pricing profits that should have been included in a return
Consequential amendments
(1) In section 206(3) of FA 2013 (taxes to which...
Introduction
(1) Section 194 (claims under section 192(1)) is amended as...
Other references to securities
Commencement of
Financing cases
Agreements for common management etc
Participation condition: anti avoidance
UK to UK exemption
Losses
Interpretation in accordance with OECD principles
Compensating adjustments
Transfer pricing notice where participation condition not otherwise met
Removal of requirement for Commissioners’ sanction
Loan relationships where provision falls within Part 4 of TIOPA 2010
Disallowed debits allowed where corresponding credit previously taken into account
Credits and debits treated as relating to capital expenditure
Proceeds of realisation
Transfers of intangible fixed assets
Grant of licence or other right treated as at market value
Deemed market value acquisition: adjustment where nil accounting value
Commencement of Chapter
Treatment of exchange gains and losses under Part 4 of TIOPA 2010
Intangible fixed assets
Amendments of CTA 2009
Designated currency elections
(1) The amendments made by this Schedule have effect in...
Guarantees
Position of guarantor of affected person's liabilities under a security issued by the person
(1) Section 191 (when sections 192 to 194 apply) is...
(1) Section 192 is amended as follows.
In section 192A (provision for cases within Part 6A), in...
In section 193 (interaction between claims under sections 184 and...
Introduction
Introduction
General interpretation
Dependent agents
Independent agents
Meaning of “closely related”
Independent investment manager conditions not sole means of showing independent status
Removal of the 20% rule
New definition of “investment transaction”
Removal of disregard of certain chargeable profits attributable to permanent establishment represented by investment manager
Lloyd’s agents
References to Model Tax Convention
Omit section 1151 (Lloyd’s agents).
Northern Ireland regional establishments
Introduction
Investment managers (removal of the 20% rule)
Meaning of investment transaction
Lloyd’s agents
In section 835E (branch or agency treated as UK representative),...
Omit section 835K (Lloyd’s agents).
(1) TCGA 1992 is amended as follows.
FA 2011
Attribution of profits
The amendments made by this Schedule have effect in relation...
In section 20 (profits attributable to permanent establishment: introduction), for...
(1) Section 21 (the separate enterprise principle) is amended as...
Omit— (a) section 22 (transactions treated as being at arm’s...
In section 24 (application to insurance companies)—
Omit— (a) section 25 (non-UK resident banks: introduction);
Exclusion of income tax charge
Introduction
Intragroup accounting discrepancies
Tax-transparent investment entities: double counting
Adjustments for ultimate parent that is a flow-through entity
Qualifying current tax expense
In section 176 (amounts to be reflected in qualifying current...
(1) Section 182 (total deferred tax adjustment amount) is amended...
Intragroup transactions
In section 182 (total deferred tax adjustment amount), in subsection...
Tax equity partnerships: calculation of excess return for clawback
Cross-border allocation of deferred tax assets and liabilities
Application of the income inclusion rule to cases involving permanent establishments
Deferred tax assets and liabilities: exclusions
(1) Schedule 16 (transitional provision) is amended as follows.
(1) Schedule 16A (safe harbours) is amended as follows.
Post-filing adjustments of covered taxes
Securitisation companies
In Part 1 of Schedule 16A (qualifying domestic top-up tax...
Location of stateless entities
In Schedule 16A, in paragraph 7, at the end insert—...
Qualifying undertaxed profits tax
In section 256 (qualifying domestic top-up tax), omit subsection (5)....
(1) Section 237 (intermediate and partially-owned parent members) is amended...
(1) Section 257 (qualifying undertaxed profits tax) is amended as...
In Schedule 16A (safe harbours), in paragraph 2 (accredited qualifying...
(1) For the purposes of Part 3 of F(No.2)A 2023,...
Definition of “ownership interest”
REITs: domestic top-up tax
Domestic top-up tax: exchange rates
Domestic top-up tax: covered tax to include group relief payments
In subsection (8)— (a) after paragraph (a) insert—
Domestic top-up tax: allocation of CFC mobile income
Simplified calculations for non-material members
Elective qualifying domestic top-up taxes
Minor amendments
In section 132 (effective tax rate), in subsection (1), in...
In section 144 (adjustments for asymmetric foreign currency income and...
In section 197A (operating leases), in subsections (2) and (3),...
In section 210 (transfer of assets or liabilities from a...
In section 247 (timing of transfers of interests), in subsection...
(1) Section 267 (DTT excluded entities) is amended as follows....
In section 272 (determining top-up amounts of entity that is...
In section 273 (domestic top-up tax: determining top-up amounts of...
In Schedule 14 (administration of multinational top-up tax)—
In Schedule 16A (qualifying domestic top-up tax safe harbour election),...
In Schedule 15 (elections) in each of paragraphs 1(1) and...
In Schedule 16 (multinational top-up tax: transitional provision), after paragraph...
(1) In FA 1989, in section 178 (setting of rates...
Commencement
Other provision about permanent establishments
In section 159 (permanent establishment income and expense attribution), at...
(1) Section 232 (permanent establishments) is amended as follows.
After section 232 insert— Legal main entity distinct from main...
Income tax
(1) Section 809ZO (income tax charge where payment of trust...
Corporation tax on income
In section 939A (overview), in subsection (2), for “section 257A”...
In section 939B (relievable charity donations), in subsection (3)(b), for...
(1) Section 939C (tainted donations) is amended as follows.
Omit section 939D (circumstances in which financial advantage deemed to...
(1) Section 939E (certain financial advantages to be ignored) is...
(1) Section 939F (removal of corporation tax relief in respect...
After section 939F (but beneath the same italic heading) insert—...
Capital gains tax and corporation tax on chargeable gains
In section 809ZH (overview), in subsection (2), for “section 257A”...
Consequential amendments
In ITEPA 2003, in section 713 (donations to charity: payroll...
In ITTOIA 2005, in section 108 (gifts of trading stock...
(1) ITA 2007 is amended as follows.
In CTA 2009, in section 105 (gifts of trading stock...
In CTA 2010, in Schedule 4 (index of defined expressions),...
In section 809ZI (relievable charity donations), in subsection (3)(b), for...
(1) Section 809ZJ (tainted donations) is amended as follows.
Omit section 809ZK (circumstances in which financial advantage deemed to...
(1) Section 809ZL (certain financial advantages to be ignored) is...
(1) Section 809ZM (removal of income tax relief in respect...
After section 809ZM insert— Clawback of income tax relief where...
(1) Section 809ZN (income tax charge where gift aid is...
The winter fuel payment charge
Consequential amendments
(1) ITEPA 2003 is amended as follows.
(1) ITA 2007 is amended as follows.
Commencement
Before Schedule 1 to ITTOIA 2005 insert— Schedule A1 Carried...
TCGA 1992
ITA 2007
Introduction
Property moving between settlements
Scottish agricultural leases
Certain shares no longer eligible for 100% relief
Instalments and interest
Certificates of discharge
Temporary relaxation of ownership and occupation conditions
Application of section 124E in cases where the deceased dies before 6 April 2026
Commencement
Amendment of Schedule A1
Consequential amendments
Business property
Commencement
Agricultural property
100% relief allowance
100% trust relief allowance
Indexation of relief allowances
100% relief allowance where relief prevented by section 113A(2) or 124A(2)
Application of section 131 relief
Rate between ten-year anniversaries
Consequential provision
In FA 2006, in section 11, omit subsection (3).
In FA 2007, omit— (a) paragraph 4 of Schedule 1;...
In FA 2008, in Schedule 41, in the Table in...
In FA 2009, omit— (a) section 20;
In the Borders, Citizenship and Immigration Act 2009, in section...
In FA 2010, omit section 19.
In FA 2012, in Schedule 24, in paragraph 3—
In FA 2014— (a) omit sections 122 and 123 (and...
In FA 2016, in paragraph 4(2) of Schedule 18, omit...
In F(No.2)A 2017, in paragraph 2(1) of Schedule 17, omit...
In FA 1982— (a) in section 8, in subsection (1),...
In FA 2024, in the Table in section 32(1), omit...
Transitional and saving provision
In FA 1983, in section 5, omit subsection (1).
In FA 1986— (a) in section 6—
In F(No.2)A 1992, omit section 7.
In FA 1994, in section 12(2)(c) omit “Schedule 3 to...
In VATA 1994, in section 23A— (a) in subsection (2),...
In FA 1997— (a) in section 10 (gaming duty)—
In FA 2003, omit section 9.
Amendments of Part 2 of FA 2001
At the end insert— (8) A statutory instrument containing regulations...
In section 20 (originating sites), in subsection (1)(a), for “United...
In section 48 (interpretation of Part), in subsection (1), at...
Amendments of Aggregates Levy (General) Regulations 2002
In regulation 13 (which relates to tax credits)—
In consequence of the amendment made by paragraph 14(b), in...
Repeals: the levy register etc
Omit— (a) section 44 of FA 2001 (destination of receipts),...
Commencement
Paragraphs 16 and 17 come into force on the day...
Section 17 (exemption etc of quantity of aggregate) is amended...
In subsection (2), after paragraph (c) insert—
After subsection (3) insert— (3A) In subsection (2)(ca) the reference...
In subsection (7), at the appropriate place insert— “relevant Scottish...
Section 19 (commercial exploitation) is amended as follows.
In subsection (1)— (a) in paragraph (a), after “site” insert...
In subsection (5)— (a) the words from “the aggregate” to...
After subsection (5) insert— (5A) The Treasury may by regulations...
Penalties
Reviews and appeals
Other amendments
In section 1 of the Excise Duties (Surcharges or Rebates)...
In paragraph 11 of Schedule 5 to the Consumer Rights...
In paragraph 2(1) of Schedule 17 to F(No.2)A 2017 (disclosure...
In section 49 of TCTA 2018 in the definition of...
The goods specified by this Schedule are goods within a...
(1) In this Schedule “commodity code” means a code assigned...
(1) The Commissioners are responsible for the collection and management...
(1) The Commissioners may by regulations make provision about how...
(1) The Treasury may by notice set default values that...
(1) The Commissioners may by regulations make provision about how...
(1) The Commissioners may by regulations make provision about the...
General requirements
Directions
(1) This paragraph applies for the purpose of preventing the...
(1) This paragraph applies where a registered person is subject...
(1) Sub-paragraph (2) applies where— (a) an officer of Revenue...
Further provision about assessments under paragraphs 20 and 22
Time limits for assessments
Supplementary provision about repayment etc
(1) This paragraph applies where— (a) an amount has been...
Reimbursement arrangements
Assessment for excessive repayment
Supplementary assessments
Further provision about assessments under paragraphs 29 and 30
Time limit for assessments
(1) Schedule 41 to FA 2008 (penalties: failure to notify...
In Schedule 24 to FA 2021 (penalties for failure to...
(1) In the table in paragraph 1 of Schedule 24...
In Schedule 26 to FA 2021 (penalties for failure to...
(1) But a penalty is not payable under paragraph 38...
Penalties under paragraphs 38 or 39: administration and supplementary provision
(1) Sub-paragraph (2) applies where— (a) an officer of Revenue...
(1) Where an assessment is made under paragraph 42(1) or...
(1) An officer of Revenue and Customs assessing a penalty...
(1) An assessment under paragraph 42(1) or (3) may not...
Penalties under paragraphs 38 and 39: power to amend in light of inflation
Appealable decisions
Offer of a review to a person notified of a decision
Value of CBAM goods
Extension of time to accept or require review
The review: penalties under Schedule 24 to FA 2021
(1) If the conclusions of a review include conclusions reached...
Bringing of appeals
Further provision about appeals
(1) Anything that may or must be given, notified or...
In this Schedule, “the tribunal” means the First-tier Tribunal or,...
Returns
(1) A person who has made a return under paragraph...
Power to change accounting periods and deadlines
Sections 145 to 155 of CEMA 1979 (proceedings for offences,...
Provisional collection of CBAM
Information and inspection powers
Serial tax avoidance
Disclosure of tax avoidance schemes
(1) A tax adviser does not contravene section 223(1) (prohibited...
Appealable decisions
Temporary relief from suspension of registration pending review or appeal: other cases
Offer of review
Time to accept offer of review
No review after appeal to the tribunal
Bringing of appeals
Powers of tribunal
Schedule 38 to FA 2012 (tax agents: dishonest conduct) is...
In paragraph 9 (relevant documents)— (a) in sub-paragraph (1)—
In paragraph 13 (approval of file access notice by tribunal)—...
In paragraph 20 (appeal against file access notice)—
In the Part 4 heading, for “dishonest” substitute “sanctionable”.
For paragraph 26 and the italic heading before it (penalty...
In paragraph 27 (special reduction)— (a) in sub-paragraph (1)—
For the Schedule heading substitute “Tax advisers: sanctionable conduct”.
In paragraph 29 (assessment of penalties)— (a) in sub-paragraph (2),...
In paragraph 30 (deadline for assessment)— (a) in sub-paragraph (3)(a),...
In paragraph 31 (appeal against penalty)— (a) in sub-paragraph (1)(a),...
In paragraph 35 (power to change amount of penalties)—
In paragraph 37(1) (meaning of “tax”), after paragraph (la) insert—...
In paragraph 38— (a) in the definition of “client”—
Omit paragraph 39 (clients).
In paragraph 40 (loss of tax revenue), for “dishonest” substitute...
TMA 1970
In paragraph 1 (overview)— (a) in paragraph (a)—
Social Security Administration Act 1992
Social Security Administration (Northern Ireland) Act 1992
The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009
The Education (Student Loans) (Repayment) Regulations 2009
FA 2012
The Social Security (Contributions) (Amendment and Application of Schedule 38 to the Finance Act 2012) Regulations 2013
The Small Charitable Donations Regulations 2013
FA 2014
(1) For paragraph 2 and the italic heading before it...
(1) In the italic heading before paragraph 3, for “Dishonest”...
Omit Part 2 (establishing dishonest conduct).
In the Part 3 heading, for “agent’s” substitute “adviser’s”.
In paragraph 7 (circumstances in which power is exercisable)—
In paragraph 8(2)(a) (file access notice), for “agent” substitute “adviser”....
Provision of data to HMRC on an ongoing basis
Reasonable excuse
Double jeopardy
Failure to comply with time limit
Assessment of penalties
Time limits and treatment of penalties
Data within possession or power
Appeals
Power to change amount of penalties
Regulations
Application of provisions of TMA 1970
Crown application
Interpretation
Due diligence and record-keeping
Provision of data to persons other than HMRC
Notification to HMRC
Compliance
Official guidance
Authoritative sources published by regulators or government explaining this legislation.
- House of Commons Library - Inheritance Tax APR/BPR Changes (CBP-10181) (opens in a new tab) Other
- Register as a CIS subcontractor (opens in a new tab) Detailed Guidance
- Apply for CIS gross payment status (opens in a new tab) Detailed Guidance
- Sign in to your Business Tax Account (opens in a new tab) from HMRC Detailed Guidance
- GOV.UK inheritance tax overview (opens in a new tab) from HMRC Detailed Guidance
- GOV.UK guidance on APR (opens in a new tab) from HMRC Detailed Guidance
- Help with labour supply chain assurance (tax risks) (opens in a new tab) from HMRC Detailed Guidance
- HMRC CIS fraud guidance (opens in a new tab) from HMRC Publication
- Report tax fraud or avoidance to HMRC (opens in a new tab) from HMRC Detailed Guidance
- Supply chain due diligence principles (opens in a new tab) from HMRC Publication
- ... and 6 more
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