Finance Act 2026
2026 c. 11 · Enacted 18 March 2026 · Extends to United Kingdom
Most Gracious Sovereign
We , Your Majesty’s most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty’s public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and to grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the King’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
Contents
- Part 1: Income tax, capital gains tax and corporate taxes
- Income tax charge, rates and allowances
- 1Income tax charge for tax year 2026-27
- 2Main rates of income tax for tax year 2026-27
- 3Default and savings rates of income tax for tax year 2026-27
- 4Increase in dividend ordinary and upper rates
- 5Savings rates of income tax for tax year 2027-28
- 6New rates of income tax on property income
- 7Property rates of income tax for tax year 2027-28
- 8Scottish and Welsh property rates set by Scottish Parliament and Senedd
- 9Freezing starting rate limit for savings for tax years 2026-27 to 2030-31
- 10Basic rate limit and personal allowance for tax years 2028-29 to 2030-31
- Corporation tax charge and rates
- 11Charge and main rate for financial year 2027
- 12Standard small profits rate and fraction for financial year 2027
- Employee reliefs
- 13Enterprise management incentives: thresholds and period for exercise
- 14Enterprise investment scheme: increase in amounts and asset requirements
- 15Venture capital trusts: rate of relief and amounts and asset requirements
- 16CSOP schemes and EMI: PISCES shares
- Employment income relating to cars etc
- 17Employee car and van ownership schemes
- 18Car or van made available on arm’s length terms
- 19CO2 emissions figure for certain cars with an electric range figure
- Other employment income
- 20Employment income: miscellaneous exemptions
- 21Disallowing deduction from earnings for additional household expenses
- 22Payment for cancelled shifts etc.
- 23Location of duties of employment where duties not performed
- 24Umbrella companies
- 25Loan charge settlement scheme
- 26Loan charge settlement scheme: inheritance tax
- 27Loan charge settlement scheme: supplementary
- Capital allowances and other reliefs for businesses
- 28Main rate of writing-down allowances for expenditure on plant or machinery
- 29First-year allowance for main rate expenditure on plant or machinery
- 30Expenditure on zero-emission cars and electric vehicle charging points
- 31Payments for surrender of expenditure credits
- 32Transition from video games tax relief
- 33Special credit for visual effects
- 34R&D undertaken abroad: Chapter 2 relief only
- Chargeable gains
- 35Restriction of relief on disposals to employee-ownership trusts
- 36Anti-avoidance: collective investment scheme reconstructions
- 37Anti-avoidance: company reconstructions
- 38Anti-avoidance: reconstructions involving transfer of business
- 39Incorporation relief: requirement to claim
- 40Non-residents: cell companies
- 41Non-residents: double taxation relief relating to collective investment vehicles
- Non-UK residents etc
- 42Abolition of notional tax credit on distributions received by non-UK residents
- 43Non-resident, and previously non-domiciled individuals
- 44Trust protections etc: minor amendments and transitional protection
- 45PAYE for treaty non-residents etc.
- Other international matters
- 46Unassessed transfer pricing profits
- 47Transfer pricing reform
- 48International controlled transactions
- 49Permanent establishments
- 50Pillar two
- 51Controlled foreign companies: interest on reversal of state aid recovery
- 52Offshore income gains
- 53Offshore income gains: savings
- Charities
- 54Legacies to charities to be within scope of tax
- 55Approved charitable investments: purpose test
- 56Tainted charity donations: replacement of purpose test with outcome test
- Miscellaneous
- 57Winter fuel payment charge
- 58Carried interest
- 59Pensions: abolition of the lifetime allowance charge
- 60Collective money purchase schemes and Master Trust schemes
- 61Corporate interest restriction: reporting companies
- 62Corporate interest restriction: capital expenditure and tax-EBITDA calculation
- 63Avoidance schemes involving certain non-derecognition liabilities
- 64Energy (oil and gas) profits levy: decommissioning relief agreements
- Part 2: Inheritance tax
- Agricultural property relief and business property relief
- 65Agricultural property relief and business property relief etc
- Pension interests
- 66Tax to be charged on certain pension interests
- 67Liability for tax on pension interests
- 68Withholding of benefits and payment of tax by pension scheme administrator
- 69Connected amendments to IHTA 1984
- 70Connected amendments to income tax rules
- 71Commencement of sections 66 to 70
- Freeze of nil rate band etc
- 72Rate bands etc for tax year 2030-31
- Provision relating to new regime in FA 2025
- 73Relevant property: disapplication of exemptions from exit charges
- 74Relevant property: cap on charges for pre-30 October 2024 excluded property
- 75Foreign diplomats etc: periods of UK residence to be disregarded
- 76Minor corrections
- Infected blood compensation payments
- 77Power to make provision about infected blood compensation payments
- Gifts to charities and registered clubs
- 78Scope of exemption for gifts to charities and registered clubs
- 79Section 78: transitional protection for existing interests in possession
- Part 3: Other existing taxes
- Value added tax and insurance premium tax
- 80Zero-rating of leases of vehicles to recipients of disability benefits
- 81Insurance premium tax relief limited to adapted vehicles
- 82Private hire vehicles or taxis
- 83Certain charitable donations not to be treated as supplies of goods
- 84Refunds of VAT to combined county authorities
- Stamp duty reserve tax
- 85UK listing relief
- Gambling duties
- 86Rate of remote gaming duty
- 87General betting duty on remote bets
- 88Abolition of bingo duty
- Alcohol duty
- 89Rates of duty
- Tobacco products duty
- 90Rates of duty effective from 6pm on 26 November 2025
- 91Rates of duty effective from 1 October 2026
- Taxes relating to vehicles
- 92Vehicle excise duty for light passenger or light goods vehicles etc
- 93Vehicle excise duty for rigid goods vehicles without trailers and tractive units
- 94Vehicle excise duty for rigid goods vehicles with trailers
- 95Vehicle excise duty for vehicles with exceptional loads etc
- 96Vehicle excise duty for haulage vehicles other than showman’s vehicles
- 97Vehicle excise duty: expensive car supplement
- 98Rates of HGV road user levy
- 99Rates of air passenger duty
- Environmental taxes
- 100Rates of climate change levy
- 101Rates of landfill tax
- 102Rate of aggregates levy
- 103Aggregates levy: amendments relating to disapplication of levy to Scotland
- 104Rate of plastic packaging tax
- 105Chemical recycling: mass balance approach
- 106Pre-consumer plastic Not yet in force
- 107Sections 105 and 106: commencement
- Soft drinks industry levy
- 108Rates of levy
- Customs duties
- 109Amendment of customs tariff power
- 110Dumping and subsidisation investigations Not yet in force
- 111Safeguarding investigations Not yet in force
- 112Customs facilities at approved wharves and other places
- Economic crime (anti-money laundering) levy
- 113Increases to rates of levy
- Annual tax on enveloped dwellings
- 114Removal of time limit to claim relief under section 106(3) of FA 2013
- Part 4: Vaping products duty
- Charge
- 115Excise duty: charge
- 116Vaping products
- 117Production of vaping products
- 118Excise duty point and payment
- Administration
- 119Administration
- Duty stamps
- 120Stamping of vaping products
- 121Issue and management of duty stamps
- 122Approved stamp holders
- 123United Kingdom representatives
- Forfeiture
- 124Forfeiture
- Civil penalties and enforcement
- 125Dealing in unstamped vaping products
- 126Loss and misuse of duty stamps
- 127Failure to comply with this Part etc
- 128Forfeiture: civil penalties
- Offences
- 129Dealing in duty stamps
- 130Dealing in unstamped vaping products Not yet in force
- 131Sales ban following conviction for unlawful use of premises Not yet in force
- 132Offences: penalties
- 133Forfeiture: offences
- General provision
- 134Publication of information
- 135Information sharing
- 136Investigation and enforcement
- 137Regulations: further provision
- 138Regulations: procedure
- 139Amendments of other enactments
- 140Interpretation
- 141Commencement and transitional provision
- Part 5: Carbon border adjustment mechanism
- Introduction
- 142Introduction to CBAM
- The charge
- 143Charge to CBAM
- 144Importation
- 145Goods processed under a special customs procedure
- 146Person liable: the importer
- 147Exemptions
- 148Embodied emissions
- 149Rate
- 150Carbon price relief
- Administration and enforcement
- 151Administration and enforcement
- 152Criminal offences
- General
- 153Supplementary amendments
- 154Emissions: meaning etc
- 155Interpretation
- 156Power to make provision for linked emissions trading schemes
- 157Regulations and notices
- 158Commencement and transitory provision
- Part 6: Avoidance
- Chapter 1: Prohibition of promotion of certain tax avoidance arrangements
- Prohibition
- 159Prohibition of promotion of certain tax avoidance arrangements
- 160Meaning of promotion
- 161Procedure
- Sanctions
- 162Civil penalties
- 163Criminal offence
- 164Criminal liability of responsible persons
- General
- 165Interpretation and commencement
- Chapter 2: Promoter action notices
- Promoter action notices
- 166Certification of promoters
- 167Promoter action notices
- 168Preliminary notices
- 169Disclosure of information by HMRC
- 170Appeal against a decision to issue a promoter action notice
- Sanctions
- 171Civil penalties
- 172Publication
- 173Reporting to regulators etc
- 174Extension of time periods
- 175Reasonable excuse
- General
- 176Interpretation
- Chapter 3: Anti-avoidance information notices
- Key definitions
- 177Connected persons
- 178Anti-avoidance enactments
- Notices by type
- 179Information notices: connected persons
- 180Information notices: third parties
- 181Information notices: unidentified connected persons
- 182Information notices: identification
- 183Information notices: financial institutions
- Content, requirements and withdrawal of notices
- 184Content and requirements of notices
- 185Restriction on disclosure of notices
- 186Excepted information
- 187Tribunal approval of notices
- 188Withdrawal of notices
- Criminal sanctions
- 189Offence of failing to comply with a notice
- 190Offence of concealing information
- 191Criminal liability of responsible persons
- 192Criminal liability of responsible persons: no prosecution of recipient
- 193Imprisonment or a fine
- Civil sanctions
- 194Penalty for failing to comply with a notice
- 195Penalty for concealing information
- 196Penalty for inaccurate information
- 197Penalty for disclosing a notice
- 198Penalty based on monies received
- 199Increased daily default penalty
- Sanctions: general
- 200Extension of time periods
- 201Reasonable excuse
- 202Double jeopardy
- 203Assessment etc of penalties: application of Schedule 36 to FA 2008
- Appeals
- 204Appeals against notices
- 205Appeals against penalties
- Miscellaneous and interpretation
- 206Interpretation
- 207Application of provisions of TMA 1970
- 208Repeals
- Chapter 4: Miscellaneous
- Legal professionals
- 209Declaration in relation to privileged material
- 210Penalties for an incorrect declaration
- 211Penalties: procedure, appeals etc
- 212Publication following an incorrect declaration
- 213Time limits for publication
- 214Amendments to existing legislation: removal of privilege exemption
- 215Commencement
- Disclosure of tax avoidance schemes: consequences for failure to comply
- 216Penalties for non-disclosure of tax avoidance schemes
- 217Removal of time limits on publication by HMRC
- 218Consequential amendments
- 219Commencement
- Construction industry scheme: amendments
- 220Construction industry scheme: amendments
- 221Construction industry scheme regulations: amendments
- 222Commencement
- Part 7: Tax advisers
- Chapter 1: Registration
- Prohibition against unregistered tax advisers interacting with HMRC
- 223Prohibition against unregistered tax advisers interacting with HMRC
- 224Meaning of “tax adviser” and “client”
- Application process
- 225Application for registration
- 226Meaning of “relevant individual” and “officer”
- 227Registration conditions
- 228Registration conditions: interpretation
- 229Registration conditions: offences
- 230Registration of tax advisers etc
- Monitoring of registration conditions and suspension of registration
- 231Monitoring of registration conditions
- 232Suspension of registration
- Compliance notice
- 233Compliance notice
- Financial penalties
- 234Financial penalties for prohibited interaction with HMRC
- 235Financial penalties for prohibited interaction with HMRC: liability of relevant individuals
- Ineligibility orders
- 236Tax advisers: ineligibility orders
- 237Relevant individuals: ineligibility orders
- Requirement for tax adviser to notify clients of suspension or ineligibility orders
- 238Requirement for tax adviser to notify clients of suspension or ineligibility orders
- Reasonable excuse
- 239Reasonable excuse
- Extension of period for making representations
- 240Extension of period for making representations
- Assessment of financial penalties etc
- 241Assessment of financial penalties
- 242Time limits and treatment of financial penalties
- 243Double jeopardy
- Reviews and appeals
- 244Reviews and appeals
- Disclosure of information
- 245Disclosure of information
- Power to publish information
- 246Power to publish information
- Power to amend Schedule 20 (exceptions)
- 247Power to amend Schedule 20 (exceptions)
- Interpretation
- 248Interpretation of Chapter
- Commencement
- 249Commencement
- Chapter 2: Conduct etc
- Conduct of tax advisers
- 250Conduct of tax advisers
- Power to publish information about tax advisers etc
- 251Power to publish information
- 252Power to publish information: change of circumstances
- 253Power to publish information: interpretation and commencement
- Part 8: Miscellaneous and final
- Fiscal mandate assessments by the OBR
- 254Fiscal mandate assessments prepared by the Office for Budget Responsibility
- Provision of data by third parties
- 255Data-gathering
- Making tax digital
- 256Persons on whom digital reporting requirements may be imposed
- 257Exemptions from digital reporting requirements
- 258Returns to be delivered by electronic communications etc.
- 259Penalties: amendments consequential on section 258 etc
- 260Powers relating to electronic communications: directions
- 261Power to require digital contact details
- Penalties
- 262Penalty points and late submission penalties (power to cancel etc)
- 263Assessments of late payment penalties etc.
- 264Penalties for failure to pay tax due on further appeal
- 265Failure to deliver company tax returns
- Advance tax clearances
- 266Clearances
- 267Binding effect
- 268Extension
- 269Modification
- 270Information
- 271Misrepresentation
- 272Commissioners notice
- 273Powers
- 274Interpretation
- Cryptoasset reporting framework
- 275Cryptoasset reporting: users and controlling persons resident in the UK
- 276International cryptoasset reporting framework: connected matters
- Miscellaneous
- 277Stamp duty: piloting of digital service etc
- 278Oversight of HMRC tax enforcement functions in Northern Ireland
- 279Repeal of obsolete provision in FA 1925 concerning Dominion Governments
- 280Repeal of other obsolete provisions and correction of wrong cross-references
- Final
- 281Interpretation
- 282Short title
- Schedule 1: Property and savings rates of income tax: consequential amendments
- Part 1: Amendments of ITA 2007
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- 14Paragraph 14
- 15Paragraph 15
- 16Paragraph 16
- 17Paragraph 17
- 18Paragraph 18
- 19Paragraph 19
- 20Paragraph 20
- 21Paragraph 21
- 22Paragraph 22
- 23Paragraph 23
- 24Paragraph 24
- 25Paragraph 25
- 26Paragraph 26
- 27Paragraph 27
- 28Paragraph 28
- 29Paragraph 29
- 30Paragraph 30
- 31Paragraph 31
- 32Paragraph 32
- 33Paragraph 33
- 34Paragraph 34
- 35Paragraph 35
- 36Paragraph 36
- Part 2: Amendments of other tax legislation
- 37TMA 1970
- 38TCGA 1992
- 39ITTOIA 2005
- 40ITTOIA 2005
- 41ITTOIA 2005
- 42ITTOIA 2005
- 43ITTOIA 2005
- 44ITTOIA 2005
- 45ITTOIA 2005
- 46ITTOIA 2005
- 47ITTOIA 2005
- 48ITTOIA 2005
- 49ITTOIA 2005
- 50ITTOIA 2005
- 51ITTOIA 2005
- 52ITTOIA 2005
- 53CTA 2010
- 54FA 2012
- Part 3: Amendment of Scotland Act 1998
- 55Scotland Act 1998
- Schedule 2: Scottish and Welsh property income rates
- Part 1: Scotland
- 1Paragraph 1
- Part 2: Wales
- 2Amendments of ITA 2007
- 3Amendments of Government of Wales Act 2006
- 4Amendments of Government of Wales Act 2006
- 5Amendments of Government of Wales Act 2006
- 6Amendments of Government of Wales Act 2006
- Schedule 3: Non-resident, and previously non-domiciled individuals
- Part 1: Relief for new residents on foreign income and gains
- 1Reliefs only deductible against income or gains to which they relate
- 2QAHCs
- 3Children under 10
- 4Residence of personal representatives
- 5Foreign gains treated as accruing when remitted to UK
- 6Capital gains tax: amendments connected with end of remittance basis
- 7Definitions
- Part 2: Temporary repatriation facility
- 8Introduction
- 9Deemed income under section 732 of ITA 2007
- 10Value of amounts of qualifying overseas capital
- 11Designation where tax paid from other sources
- 12Income tax or capital gains tax reduction where TRF charge paid on same amount
- 13Capital payment derived from foreign income or gains
- 14Amounts derived from designated qualifying overseas capital
- 15Effect on section 65(5)(b) IHTA charge etc
- 16Amendment of returns
- 17Transfers from mixed funds
- 18Commencement of this Part
- Part 3: Temporary non-residence
- 19Paragraph 19
- 20Paragraph 20
- 21Paragraph 21
- 22Paragraph 22
- 23Paragraph 23
- Schedule 4: PAYE for treaty non-residents etc
- Part 1: Treaty non-residents
- 1Introduction
- 2Notifications in respect of treaty non-resident employees
- 3Consequential amendments
- 4Consequential amendments
- Part 2: Other amendments of ITEPA 2003
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- 10Paragraph 10
- Schedule 5: Unassessed transfer pricing profits
- 1Assessment of transfer pricing profits that should have been included in a return
- 2Consequential amendments
- 3Consequential amendments
- Schedule 6: Transfer pricing
- Part 1: Amendments of Part 4 of TIOPA 2010
- 1Introduction
- 2Transfer pricing notice where participation condition not otherwise met
- 3Intangible fixed assets
- 4Guarantees
- 5Position of guarantor of affected person's liabilities under a security issued by the person
- 6Position of guarantor of affected person's liabilities under a security issued by the person
- 7Position of guarantor of affected person's liabilities under a security issued by the person
- 8Position of guarantor of affected person's liabilities under a security issued by the person
- 9Position of guarantor of affected person's liabilities under a security issued by the person
- 10Position of guarantor of affected person's liabilities under a security issued by the person
- 11Other references to securities
- 12Commencement of paragraphs 4 to 11
- 13Financing cases
- 14Agreements for common management etc
- 15Participation condition: anti avoidance
- 16UK to UK exemption
- 17Losses
- 18Interpretation in accordance with OECD principles
- 19Compensating adjustments
- 20Removal of requirement for Commissioners’ sanction
- Part 2: Other amendments
- Chapter 1: Loan relationships etc
- 21Loan relationships where provision falls within Part 4 of TIOPA 2010
- 22Disallowed debits allowed where corresponding credit previously taken into account
- 23Credits and debits treated as relating to capital expenditure
- Chapter 2: Intangible fixed assets
- 24Proceeds of realisation
- 25Transfers of intangible fixed assets
- 26Grant of licence or other right treated as at market value
- 27Deemed market value acquisition: adjustment where nil accounting value
- 28Commencement of Chapter
- Chapter 3: Exchange gains and losses etc
- 29Treatment of exchange gains and losses under Part 4 of TIOPA 2010
- 30Amendments of CTA 2009
- 31Designated currency elections
- Part 3: Commencement
- 32Paragraph 32
- Schedule 7: Permanent establishments
- Part 1: Amendments to CTA 2009
- 1Introduction
- 2References to Model Tax Convention
- 3Attribution of profits
- 4Attribution of profits
- 5Attribution of profits
- 6Attribution of profits
- 7Attribution of profits
- 8Attribution of profits
- 9Exclusion of income tax charge
- Part 2: Amendments to CTA 2010
- 10Introduction
- 11General interpretation
- 12Dependent agents
- 13Independent agents
- 14Meaning of “closely related”
- 15Independent investment manager conditions not sole means of showing independent status
- 16Removal of the 20% rule
- 17New definition of “investment transaction”
- 18Removal of disregard of certain chargeable profits attributable to permanent establishment represented by investment manager
- 19Lloyd’s agents
- 20Lloyd’s agents
- 21Northern Ireland regional establishments
- Part 3: Amendments to ITA 2007
- 22Introduction
- 23Investment managers (removal of the 20% rule)
- 24Meaning of investment transaction
- 25Lloyd’s agents
- 26Lloyd’s agents
- 27Lloyd’s agents
- Part 4: Amendments to TCGA 1992
- 28Paragraph 28
- Part 5: Consequential amendments
- 29FA 2011
- Part 6: Commencement
- 30Paragraph 30
- Schedule 8: Pillar Two
- 1Introduction
- 2Application of the income inclusion rule to cases involving permanent establishments
- 3Application of the income inclusion rule to cases involving permanent establishments
- 4Elective qualifying domestic top-up taxes
- 5Elective qualifying domestic top-up taxes
- 6Other provision about permanent establishments
- 7Other provision about permanent establishments
- 8Other provision about permanent establishments
- 9Other provision about permanent establishments
- 10Intragroup accounting discrepancies
- 11Tax-transparent investment entities: double counting
- 12Adjustments for ultimate parent that is a flow-through entity
- 13Qualifying current tax expense
- 14Qualifying current tax expense
- 15Qualifying current tax expense
- 16Intragroup transactions
- 17Intragroup transactions
- 18Tax equity partnerships: calculation of excess return for clawback
- 19Cross-border allocation of deferred tax assets and liabilities
- 20Deferred tax assets and liabilities: exclusions
- 21Deferred tax assets and liabilities: exclusions
- 22Deferred tax assets and liabilities: exclusions
- 23Post-filing adjustments of covered taxes
- 24Securitisation companies
- 25Securitisation companies
- 26Location of stateless entities
- 27Location of stateless entities
- 28Qualifying undertaxed profits tax
- 29Qualifying undertaxed profits tax
- 30Qualifying undertaxed profits tax
- 31Qualifying undertaxed profits tax
- 32Qualifying undertaxed profits tax
- 33Definition of “ownership interest”
- 34REITs: domestic top-up tax
- 35Domestic top-up tax: exchange rates
- 36Domestic top-up tax: covered tax to include group relief payments
- 37Domestic top-up tax: covered tax to include group relief payments
- 38Domestic top-up tax: allocation of CFC mobile income
- 39Simplified calculations for non-material members
- 40Minor amendments
- 41Minor amendments
- 42Minor amendments
- 43Minor amendments
- 44Minor amendments
- 45Minor amendments
- 46Minor amendments
- 47Minor amendments
- 48Minor amendments
- 49Minor amendments
- 50Minor amendments
- 51Minor amendments
- 52Minor amendments
- 53Commencement
- Schedule 9: Tainted charity donations
- 1Income tax
- 2Income tax
- 3Income tax
- 4Income tax
- 5Income tax
- 6Income tax
- 7Income tax
- 8Income tax
- 9Income tax
- 10Income tax
- 11Corporation tax on income
- 12Corporation tax on income
- 13Corporation tax on income
- 14Corporation tax on income
- 15Corporation tax on income
- 16Corporation tax on income
- 17Corporation tax on income
- 18Corporation tax on income
- 19Capital gains tax and corporation tax on chargeable gains
- 20Consequential amendments
- 21Consequential amendments
- 22Consequential amendments
- 23Consequential amendments
- 24Consequential amendments
- 25Consequential amendments
- Schedule 10: Winter fuel payment charge
- 1The winter fuel payment charge
- 2Consequential amendments
- 3Consequential amendments
- 4Consequential amendments
- 5Commencement
- Schedule 11: Tax treatment of carried interest
- Part 1: Carried interest: interpretation of key terms
- 1Paragraph 1
- Part 2: Consequential and connected amendments
- 2TCGA 1992
- 3ITA 2007
- Schedule 12: Reform of reliefs for business property and agricultural property
- Part 1: Business property relief and agricultural property relief
- 1Introduction
- 2Business property
- 3Agricultural property
- 4100% relief allowance
- 5100% trust relief allowance
- 6Indexation of relief allowances
- 7100% relief allowance where relief prevented by section 113A(2) or 124A(2)
- 8Application of section 131 relief
- 9Rate between ten-year anniversaries
- 10Property moving between settlements
- 11Scottish agricultural leases
- 12Certain shares no longer eligible for 100% relief
- 13Instalments and interest
- 14Certificates of discharge
- 15Temporary relaxation of ownership and occupation conditions
- 16Application of section 124E in cases where the deceased dies before 6 April 2026
- 17Commencement
- Part 2: Inheritance tax on overseas property with value attributable to UK agricultural property
- 18Amendment of Schedule A1
- 19Consequential amendments
- 20Commencement
- Schedule 13: Abolition of bingo duty: consequential and transitional provision
- 1Consequential provision
- 2Consequential provision
- 3Consequential provision
- 4Consequential provision
- 5Consequential provision
- 6Consequential provision
- 7Consequential provision
- 8Consequential provision
- 9Consequential provision
- 10Consequential provision
- 11Consequential provision
- 12Consequential provision
- 13Consequential provision
- 14Consequential provision
- 15Consequential provision
- 16Consequential provision
- 17Consequential provision
- 18Consequential provision
- 19Consequential provision
- 20Consequential provision
- 21Transitional and saving provision
- Schedule 14: Aggregates levy: amendments relating to disapplication of levy to Scotland
- 1Amendments of Part 2 of FA 2001
- 2Amendments of Part 2 of FA 2001
- 3Amendments of Part 2 of FA 2001
- 4Amendments of Part 2 of FA 2001
- 5Amendments of Part 2 of FA 2001
- 6Amendments of Part 2 of FA 2001
- 7Amendments of Part 2 of FA 2001
- 8Amendments of Part 2 of FA 2001
- 9Amendments of Part 2 of FA 2001
- 10Amendments of Part 2 of FA 2001
- 11Amendments of Part 2 of FA 2001
- 12Amendments of Part 2 of FA 2001
- 13Amendments of Aggregates Levy (General) Regulations 2002
- 14Amendments of Aggregates Levy (General) Regulations 2002
- 15Amendments of Aggregates Levy (General) Regulations 2002
- 16Repeals: the levy register etc
- 17Repeals: the levy register etc
- 18Commencement
- 19Commencement
- Schedule 15: Vaping products duty: amendments of other enactments
- 1Penalties
- 2Reviews and appeals
- 3Other amendments
- 4Other amendments
- 5Other amendments
- 6Other amendments
- 7Other amendments
- Schedule 16: CBAM Goods
- 1Paragraph 1
- 2Paragraph 2
- Schedule 17: Administration of CBAM
- Part 1: Introduction
- 1Paragraph 1
- Part 2: Registration
- 2Duty to register with HMRC
- 3Deregistration
- 4Notification of changed or incorrect information
- 5Value of CBAM goods
- Part 3: Payment, accounting periods and returns
- 6Payment and accounting periods
- 7Returns
- 8Returns
- 9Power to change accounting periods and deadlines
- Part 4: Determination and evidence of emissions and carbon price relief
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- Part 5: Measurement of weight
- 13Paragraph 13
- Part 6: Records
- 14General requirements
- 15Directions
- Part 7: Artificial separation of business activities
- 16Paragraph 16
- Part 8: Death, incapacity and insolvency
- 17Paragraph 17
- 18Paragraph 18
- Part 9: Recovery
- 19Recovery as a debt due
- 20Assessments of amounts of CBAM
- 21Assessments of amounts of CBAM
- 22Supplementary assessments
- 23Further provision about assessments under paragraphs 20 and 22
- 24Time limits for assessments
- Part 10: Repayments
- 25Repayments of overpaid tax
- 26Supplementary provision about repayment etc
- 27Supplementary provision about repayment etc
- 28Reimbursement arrangements
- 29Assessment for excessive repayment
- 30Supplementary assessments
- 31Further provision about assessments under paragraphs 29 and 30
- 32Time limit for assessments
- Part 11: Penalties
- 33Penalties payable in connection with this Schedule
- 34Penalties payable in connection with this Schedule
- 35Penalties payable in connection with this Schedule
- 36Penalties payable in connection with this Schedule
- 37Penalties payable in connection with this Schedule
- 38Penalties payable in connection with this Schedule
- 39Penalties payable in connection with this Schedule
- 40Penalties payable in connection with this Schedule
- 41Penalties under paragraphs 38 or 39: administration and supplementary provision
- 42Penalties under paragraphs 38 or 39: administration and supplementary provision
- 43Penalties under paragraphs 38 or 39: administration and supplementary provision
- 44Penalties under paragraphs 38 or 39: administration and supplementary provision
- 45Penalties under paragraphs 38 or 39: administration and supplementary provision
- 46Penalties under paragraphs 38 or 39: administration and supplementary provision
- 47Penalties under paragraphs 38 and 39: power to amend in light of inflation
- Part 12: Reviews and appeals
- 48Appealable decisions
- 49Offer of a review to a person notified of a decision
- 50Right of other persons to require review
- 51Duty to review
- 52Extension of time to accept or require review
- 53Review out of time
- 54The review
- 55The review: penalties under Schedule 24 to FA 2021
- 56The review: penalties under Schedule 24 to FA 2021
- 57Bringing of appeals
- 58Further provision about appeals
- 59Determination on appeal
- Part 13: Service
- 60Paragraph 60
- Part 14: Interpretation
- 61Paragraph 61
- Schedule 18: Offences relating to CBAM
- Part 1: Fraudulent evasion
- 1Paragraph 1
- Part 2: Misstatement
- 2Paragraph 2
- Part 3: Proceedings
- 3Paragraph 3
- Schedule 19: Supplementary amendments relating to CBAM
- 1Provisional collection of CBAM
- 2Information and inspection powers
- 3Serial tax avoidance
- 4Disclosure of tax avoidance schemes
- Schedule 20: Registration of tax advisers: exceptions
- 1Paragraph 1
- Schedule 21: Registration of tax advisers: reviews and appeals
- 1Appealable decisions
- 2Offer of review
- 3Time to accept offer of review
- 4Review out of time
- 5No review after appeal to the tribunal
- 6Review
- 7Bringing of appeals
- 8Powers of tribunal
- 9Temporary relief from suspension of registration pending review or appeal: amount of tax etc overdue
- 10Temporary relief from suspension of registration pending review or appeal: other cases
- Schedule 22: Conduct of tax advisers
- Part 1: Amendments to Schedule 38 to FA 2012
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9
- 10Paragraph 10
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- 14Paragraph 14
- 15Paragraph 15
- 16Paragraph 16
- 17Paragraph 17
- 18Paragraph 18
- 19Paragraph 19
- 20Paragraph 20
- 21Paragraph 21
- 22Paragraph 22
- 23Paragraph 23
- 24Paragraph 24
- 25Paragraph 25
- 26Paragraph 26
- 27Paragraph 27
- 28Paragraph 28
- Part 2: Consequential amendments
- 29TMA 1970
- 30Social Security Administration Act 1992
- 31Social Security Administration (Northern Ireland) Act 1992
- 32The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009
- 33The Education (Student Loans) (Repayment) Regulations 2009
- 34FA 2012
- 35The Social Security (Contributions) (Amendment and Application of Schedule 38 to the Finance Act 2012) Regulations 2013
- 36The Small Charitable Donations Regulations 2013
- 37FA 2014
- Schedule 23: Data-gathering
- Part 1: Power to require provision of data to HMRC on an ongoing basis
- 1Provision of data to HMRC on an ongoing basis
- 2Data within possession or power
- 3Due diligence and record-keeping
- 4Provision of data to persons other than HMRC
- 5Notification to HMRC
- 6Compliance
- Part 2: Penalties and appeals
- 7Penalties for failure to provide data to HMRC on an ongoing basis etc
- 8Penalties for failure to apply due diligence procedures
- 9Penalties for failure to keep or preserve records
- 10Penalties for failure to provide data to other persons
- 11Penalties for failure to notify
- 12Penalties for failure to provide information
- 13Penalties for inaccurate or incomplete data
- 14Reasonable excuse
- 15Duplication of liability to penalties
- 16Double jeopardy
- 17Failure to comply with time limit
- 18Assessment of penalties
- 19Time limits and treatment of penalties
- 20Appeals
- Part 3: General
- 21Power to change amount of penalties
- 22Regulations
- 23Application of provisions of TMA 1970
- 24Crown application
- 25Interpretation