Finance Act 2026

For the tax year 2026-27 the default rates of income tax are as follows—

For the tax year 2026-27 the savings rates of income tax are as follows—

In section 8 of ITA 2007 (which provides, among other things, for the dividend ordinary rate and dividend upper rate)—

The amendments made by this section have effect for the tax year 2026-27 and subsequent tax years.

Part 1 of ITA 2007 (rates at which income tax is charged etc) is amended as follows.

After section 6C insert—

After section 11C insert—

After section 16 insert—

After section 17 insert—

In section 25 (reliefs and allowances deductible at Steps 2 and 3: supplementary), after subsection (3) insert—

Schedule 1 makes amendments in connection with, or otherwise related to, provision made by this section and section 5 (including amendments concerning savings rates).

The amendments made by this section and that Schedule have effect for the tax year 2027-28 and subsequent tax years.

Schedule 2 makes provision for Scottish and Welsh property rates to be set by the Scottish Parliament and Senedd Cymru.

This section and that Schedule come into force on such day as the Treasury may by regulations appoint.

The amendments made by this section and that Schedule have effect in relation to—

The tax year appointed under subsection (3)—

Regulations under this section may appoint different days for different purposes.

For further provision about regulations under this section, see section 1014(1), (3) and (6)(b) of ITA 2007.

For the tax years 2026-27, 2027-28, 2028-29, 2029-30 and 2030-31, the amount specified in section 12(3) of ITA 2007 (the starting rate limit for savings) is “£5,000”.

Accordingly, section 21 of that Act (indexation) does not apply in relation to the starting rate limit for savings for any of those tax years.

Section 5 of FA 2021 (basic rate limit and personal allowance for tax years up to 2027-28) is amended as follows.

In subsection (1) (which specifies the basic rate limit in section 10(5) of ITA 2007 as £37,700 for tax years up to 2027-28), for “and 2027-28” substitute “, 2027-28, 2028-29, 2029-30 and 2030-31”.

In subsection (2) (which specifies the personal allowance in section 35(1) of ITA 2007 as £12,570 for tax years up to 2027-28), for “and 2027-28” substitute “, 2027-28, 2028-29, 2029-30 and 2030-31”.

In subsection (3) (which makes consequential provision preventing the uprating of those amounts for the affected tax years), in the words after paragraph (b), for “and 2027-28” substitute “, 2027-28, 2028-29, 2029-30 and 2030-31”.

Corporation tax is charged for the financial year 2027.

The main rate of corporation tax for that year is 25%.

In section 529 of ITEPA 2003 (scope of tax advantages: option must be exercised within 10 years)—

Schedule 5 to ITEPA 2003 is amended as set out in subsections (3) to (7).

In paragraph 7 (maximum value of options in respect of relevant company’s shares)—

In paragraph 12 (the gross assets requirement)—

In paragraph 12A (the number of employees requirement)—

In paragraph 36 (option to be capable of exercise within ten years)—

After paragraph 57E, insert—.

In section 169I(7D)(b) of TCGA 1992 (material disposal of business assets)—

The amendments made by subsections (1) to (8) come into force on 6 April 2026.

On and after 6 April 2026, Schedule 5 to ITEPA 2003 has effect in relation to an option granted before 6 April 2026 as if the following paragraph were inserted after paragraph 37—.

Part 5 of ITA 2007 is amended as follows.

In section 173A(1) (the maximum amount raised annually through risk finance investments requirement), for paragraphs (a) and (b) substitute—.

In section 173AA(1) (maximum risk finance investments at the issue date requirement), for paragraphs (a) and (b) substitute—.

In section 173AB(4) (maximum risk finance investments during period B requirement) for paragraphs (a) and (b) substitute—.

In section 175 (the use of the money raised requirement)—

In section 186 (the gross assets requirement)—

After section 256A, insert—.

The amendments made by this section come into force on 6 April 2026.

Part 6 of ITA 2007 is amended as follows.

In section 263(2) (form and amount of relief), for “30%” substitute “20%”.

In section 292A(1) (the maximum amount raised annually through risk finance investments requirement​ ), for paragraphs (a) and (b) substitute—.

In section 292AA(1) (maximum risk finance investments when relevant holding is issued requirement), for paragraphs (a) and (b) substitute—.

In section 292AB(4) (maximum risk finance investments during the 5-year post-investment period requirement), for paragraphs (a) and (b) substitute—.

In section 293 (the use of the money raised requirement)—

In section 297 (the gross assets requirement)—

After section 331B, insert—.

The amendments made by this section come into force on 6 April 2026.

If— the provision mentioned in paragraph (c) is to be treated for the purposes of the CSOP code as if it had been included in the share option at the time at which the option was granted.

Subsection (1) is to have effect as if contained in Schedule 4 to ITEPA 2003.

If— the provision mentioned in paragraph (c) is to be treated for the purposes of the EMI code as if it had been included in the share option at the time at which the option was granted.

Subsection (3) is to have effect as if contained in Schedule 5 to ITEPA 2003.

A variation of an option is not to count for the purposes of this section unless—

For the purposes of this section, “PISCES shares” and “a PISCES” have the same meaning as in the applicable PISCES regulations.

For this purpose, “the applicable PISCES regulations” means—

If— this section has effect as if the references to PISCES shares or a PISCES are to those other expressions.

Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is amended in accordance with subsections (2) to (4).

In section 114(1)(a) (cars, vans and related benefits)—

In section 116(1) (meaning of when car or van is available to employee)—

After section 116 insert—

The amendments made by subsections (2) to (4) have effect for the tax year 2030-31 and subsequent tax years.

But in relation to a car or van made available to an employee or a member of the employee’s family or household pursuant to pre-6 April 2030 arrangements, the amendments made by subsections (2) to (4) have effect for the tax year 2032-33 and subsequent tax years.

If pre-6 April 2030 arrangements are varied or renewed on or after 6 April 2030, the car or van is treated, with effect from the beginning of the day on which the variation or renewal takes effect, as not being made available pursuant to pre-6 April 2030 arrangements.

In subsection (7) the reference to arrangements being varied does not include any variation which is required for reasons beyond the control of the parties to the arrangements.

In this section “pre-6 April 2030 arrangements” means arrangements which are entered into before 6 April 2030.

In section 117 of ITEPA 2003 (meaning of car or van made available by reason of employment)—

The amendments made by subsection (1) have effect for the tax year 2026-27 and subsequent tax years.

Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars etc) is amended in accordance with subsections (2) and (3).

In section 136A (cars with a CO2 emissions figure: registration on or after IP completion day), after subsection (4) insert—

After section 138 insert—

The amendments made by subsections (2) and (3) have effect—

This subsection applies to a car made available to an employee or a member of the employee’s family or household pursuant to pre-6 April 2028 arrangements.

Where— the car is treated as being made available by the employer to the other employee or member pursuant to pre-6 April 2028 arrangements.

If pre-6 April 2028 arrangements are otherwise varied or renewed on or after 6 April 2028, the car is treated, with effect from the beginning of the day on which the variation or renewal takes effect, as not being made available pursuant to pre-6 April 2028 arrangements.

In subsection (7) the reference to arrangements being varied does not include a variation which is required for reasons beyond the control of the parties to the arrangements.

In this section “pre-6 April 2028 arrangements” means arrangements which are entered into before 6 April 2028.

Sections 136A(5) and 138A of ITEPA 2003, and subsections (1) to (3) of this section, are repealed.

Subsection (10) comes into force on 6 April 2031.

Chapter 11 of Part 4 of ITEPA 2003 (employment income: miscellaneous exemptions) is amended in accordance with subsections (2) to (4).

After section 316 insert—

In section 320A (eye tests and special corrective appliances)—

After section 320C insert—

In section 266(3) of ITEPA 2003 (exemption of non-cash vouchers for exempt benefits)—

In section 267(2) of ITEPA 2003 (exemption of credit-tokens used for exempt benefits)—

The amendments made by this section have effect in relation to the tax year 2026-2027 and subsequent tax years.

After section 360A of ITEPA 2003 (no deduction from earnings for social security contributions) insert—

The amendment made by this section has effect for the tax year 2026-27 and subsequent tax years.

After section 221 of ITEPA 2003 (payments where employee absent because of sickness or disability) insert—

The amendment made by this section comes into force on the first day on which the duty in section 27BP(1) of the Employment Rights Act 1996 has effect.

ITEPA 2003 is amended as follows.

In section 27 (UK-based earnings for year when employee not resident in UK)—

In section 38 (earnings for period of absence from employment)—

After section 38 (earnings for period of absence from employment) insert—

In section 41Y (location of employment duties), in subsection (1), for “applies” substitute “and section 38A (earnings in respect of duties not performed) apply”.

In section 402B (termination awards not benefiting from threshold to be treated as earnings), omit subsection (1)(b) (and the “but” before it).

The amendments made by this section have effect in relation to general earnings that are, for the purposes of Chapter 4 or 5 of Part 2 of ITEPA 2003—

ITEPA 2003 is amended as follows.

In Part 2 (employment income: charge to tax), after Chapter 10 insert—

In section 7 (meaning of employment income etc), in subsection (5)(a)—

In section 44 (treatment of workers supplied by agencies)—

In section 61V (consequences of providing fraudulent information), after subsection (4) insert—

Provision in connection with the recovery of amounts to which a person is jointly and severally liable as a result of Chapter 11 of Part 2 (umbrella companies).

In section 689(4) (employee of non-UK employer), after “sections” insert “61Z1(5)(c)(i),”.

In section 716B (employment intermediaries to keep, preserve and provide information etc)—

In regulation 69 of the Income Tax (Pay As You Earn) Regulations 2003, in paragraph (1A)—

In regulation 80 of those Regulations (determination of unpaid tax and appeal against determination), after paragraph (5) insert—

The amendments made by this section have effect in relation to payments made on or after 6 April 2026.

The Treasury must by regulations provide for a scheme under which persons who are liable to pay loan charge amounts may enter into an agreement (“a settlement agreement”) with the Commissioners as regards those amounts.

The scheme must provide that the Commissioners must, in accordance with the scheme, make an offer to enter into a settlement agreement (“a settlement offer”) to every person who—

The scheme must provide that a settlement offer made to a person (P) must—

The scheme must provide that the relevant loan charge amounts must not include loan charge amounts which are the subject of, or under, a contract settlement entered into before 1 June 2021.

The scheme must provide that if P enters into the proposed settlement agreement with the Commissioners—

The scheme must provide for the calculation of P’s settlement amount and must secure—

In this section—

A reference in this section to a Schedule 11 or 12 to F(No. 2)A 2017 loan or quasi-loan is to—

In this section—

The scheme may provide that, if a person enters into a settlement agreement, amounts of inheritance tax payable by the person which— cease to payable by the person.

The scheme may provide, if a person enters into a settlement agreement, for adjustments in amounts of inheritance tax payable by other persons which—

The scheme must provide that, if a person enters into a settlement agreement, no relevant Schedule 11 or 12 to F(No. 2)A 2017 loan or quasi-loan is to be treated as a liability for the purposes of section 5(3) of IHTA 1984.

In this section, references to relevant Schedule 11 or 12 to F(No. 2)A 2017 loans and quasi-loans are to the Schedule 11 or 12 to F(No. 2)A 2017 loans and quasi-loans to which the loan charge amounts to which the settlement agreement applies are connected.

Expressions used in this section and section 25 have the same meaning in this section as they have in section 25.

In this section, “transfer of value” has the same meaning as in IHTA 1984 (see, in particular, section 3 of that Act).

The scheme may make provision—

The things specified under subsection (1)(b) may include, for example, a person to whom a settlement offer is made entering into a contract settlement in relation to amounts specified in the settlement offer which—

The provision which may be made under subsection (1)(d)(ii) includes provision setting out the descriptions of amounts which arise in connection with a Schedule 11 or 12 to F(No. 2)A 2017 loan or quasi-loan.

The provision which may be made under subsection (1)(g) includes provision—

The scheme may make—

Regulations providing for the scheme are to be made by statutory instrument and are subject to annulment in pursuance of a resolution of the House of Commons.

A settlement agreement is a contract settlement for the purposes of sections 25 and 25A of CRCA 2005.

Expressions used in this section and section 25 or 26 have the same meaning in this section as they have in section 25 or 26.

In section 56 of CAA 2001 (amount of plant and machinery allowances), in subsection (1) (which specifies the main rate of writing-down allowances), for “18%” substitute “14%”.

The amendment made by subsection (1) has effect in relation to chargeable periods beginning on or after the relevant day, that is to say—

The amendment made by subsection (1) also has effect in relation to chargeable periods beginning before and ending on or after the relevant day but as if the reference to 14% were a reference instead to X%.

For this purpose X is found by adding (18 x BRD/CP) to (14 x ARD/CP).

Where X would be a figure with more than 2 decimal places, it is to be rounded up to the nearest second decimal place.

In subsection (4)—

Part 2 of CAA 2001 (plant and machinery allowances) is amended as follows.

section 45U expenditure on plant or machinery in cases not falling within section 45S etc

After section 45T insert—

In section 46 (general exclusions)—

Expenditure qualifying under section 45U (expenditure on plant or machinery in cases not falling within section 45S etc) 40%

In section 1042N of CTA 2009 (amounts surrendered to other group companies), after subsection (4) insert—

In section 1179CE of CTA 2009 (amounts surrendered to other group companies), after subsection (4) insert—

The amendments made by this section have effect in relation to payments made on or after 26 November 2025.

Schedule 2 to FA 2024 (expenditure credits for films, television programmes and video games) is amended as follows.

After paragraph 24 insert—

In paragraph 18 (opting into new regime during transitional period), in sub-paragraph (5)(b), for “24” substitute “24A”.

The amendments made by this section have effect in relation to elections made under section 1179B(1) of CTA 2009 in relation to any opt-in period commencing on or after 26 November 2025.

Section 1179EC of CTA 2009 (special credit for visual effects) is amended as follows.

In subsection (2)—

In subsection (3)(b) for paragraph (i) substitute—.

In subsection (4)—

After subsection (6) insert—

The amendments made by this section have effect in relation to any claim made for Chapter 3 credit, or an additional amount of audiovisual expenditure credit, for accounting periods beginning on or after 26 November 2025.

In section 1138A(1)(b) of CTA 2009, at beginning insert “for the purposes of relief under Chapter 2”.

The amendment made by subsection (1) has effect in relation to claims made on or after 30 October 2024.

Section 236H of TCGA 1992 (disposals to employee-ownership trusts) is amended as follows.

For subsection (2) substitute—

In subsection (3), for “The”, in the first place it occurs, substitute “Where this subsection applies, the”.

The amendments made by this section have effect in relation to disposals made on or after 26 November 2025.

TCGA 1992 is amended as follows.

In section 103G (exchange of units for those in another collective investment scheme), in subsection (4), for “section 103K(1)” to the end of the subsection substitute “section 103K (anti-avoidance)”.

In section 103H (scheme of reconstruction involving issue of units), in subsection (5), for “section 103K(1)” to the end of the subsection substitute “section 103K (anti-avoidance)”.

In section 103I (scheme of reconstruction involving conversion scheme), in subsection (4), for “section 103K(1)” to the end of the subsection substitute “section 103K (anti-avoidance)”.

In section 103K (restriction on application of sections 103G, 103H and 103I)—

The amendments made by this section have effect in relation to arrangements involving an issue of units in a collective investment scheme on or after 26 November 2025.

But those amendments do not have effect in a case where—

TCGA 1992 is amended as follows.

In section 135 (exchange of securities for those in another company), in subsection (6), for “section 137(1)” to the end of the subsection substitute “section 137 (anti-avoidance)”.

In section 136 (scheme of reconstruction involving issue of securities), in subsection (6), for “section 137(1)” to the end of the subsection substitute “section 137 (anti-avoidance)”.

In section 137 (restriction on company reconstruction provisions)—

In section 138 (procedure for clearance in advance)—

The amendments made by this section have effect in relation to arrangements involving an issue of shares in, or debentures of, a company on or after 26 November 2025.

But those do not have effect in a case where—

In section 139 (reconstruction involving transfer of business)—

The amendments made by this section have effect in relation to arrangements involving the transfer of assets of a business on or after 26 November 2025.

But this section does not have effect in relation to a case where—

Section 162 of TCGA 1992 (roll-over relief on transfer of business) is amended as follows.

In subsection (1)—

After subsection (5) insert—

Omit section 162A of TCGA 1992 (election for section 162 not to apply).

The amendments made by this section have effect in relation to transfers of businesses made on or after 6 April 2026.

Part 4 of Schedule 1A to TCGA 1992 (anti-avoidance relating to assets deriving 75% of value from UK land) is amended as follows.

For the heading of the Part substitute “Cell companies and anti-avoidance”.

Before paragraph 11 insert—.

The amendments made by this section have effect in relation to disposals made on or after 26 November 2025.

Where sub-paragraph (1A) would apply as regards a company if the company were to make a claim to obtain relief under section 6(2)(a) or (3)(a) of TIOPA 2010 in respect of a disposal that has an appropriate connection to a collective investment vehicle for the purposes of paragraph 6 of Schedule 5AAA to TCGA 1992, the company is not required to make such a claim in order to obtain relief in respect of the disposal (despite section 6(6) of TIOPA 2010).

In section 55A of FA 2004 (exception to duty to give notice to coming within charge to corporation tax), after subsection (4) insert—

In Schedule 2 to FA 2019—

The amendments made by subsections (1) and (2) have effect in relation to disposals made on or after 1 April 2026.

The amendments made by subsection (3) have effect in relation to disposals made on or after 6 April 2026.

Omit section 399 of ITTOIA 2005 (tax treated as paid on distributions received by non-UK resident persons).

In ITA 2007—

In TMA 1970—

In the Unauthorised Unit Trusts (Tax) Regulations 2013 (S.I.‌ 2013/2819), in regulation 12 (treatment of income of an exempt unauthorised unit trust), omit paragraph (3)(b).

The amendments made by this section have effect for the tax year 2026-27 and subsequent tax years.

Part 1 of Schedule 3 makes provision about income tax and capital gains tax in connection with whether an individual has been non-UK resident or domiciled outside the United Kingdom, including—

Part 2 of that Schedule makes provision amending Schedule 10 to FA 2025 (temporary repatriation facility).

Part 3 of that Schedule makes provision about individuals who have been temporarily non-resident.

In Chapter 5 of Part 5 of ITTOIA 2005 (settlements), in section 643C (meaning of “available protected income”)—

In Chapter 2 of Part 13 of ITA 2007 (transfer of assets abroad), in section 733 (benefits charge: amount of deemed income), in subsection (2B)—

In section 87HA of TCGA 1992 (onward gifts from non-residents or qualifying new residents), in subsections (2) and (3), omit “capital”.

In FA 2025, in Schedule 12 (trust protections), in Part 4 (commencement and transitional provision), after paragraph 70 insert—

The amendments made by subsection (1) come into force on 6 April 2026.

The amendments made by subsections (2) to (4) are treated as having come into force on 6 April 2025.

Schedule 4—

The amendments made by Schedule 4 have effect for the tax year 2026-27 and subsequent tax years (but see paragraph 8(2) of that Schedule).

Schedule 5 provides—

The amendments made by that Schedule have effect in relation to accounting periods beginning on or after 1 January 2026.

The Commissioners for His Majesty's Revenue and Customs may by regulations make provision—

The regulations may—

For the purposes of subsection (1)—

The transfer pricing condition is that—

The permanent establishment condition is that the transaction is relevant to the determination of—

References in this section to a transaction includes any transaction that may be treated to have occurred for the purposes of applying Chapter 3A or 4 of Part 2 of CTA 2009 (profits of permanent establishments).

This section applies if a repayment of interest (“the relevant repayment”) is, or has been at any time, made to a company in consequence of the cancellation of an interest charging notice given to the company under Schedule 7ZA to TIOPA 2010 (recovery of unlawful state aid).

Interest must be paid to the company in respect of the relevant repayment.

The amount of interest payable under this section is the amount that would have been payable by virtue of section 826 of the Income and Corporation Taxes Act 1988 (interest on tax overpaid) in respect of the relevant repayment if, at the time of the relevant repayment—

Interest payable under this section must be paid—

Nothing in paragraph 10(1) of Schedule 7ZA to TIOPA 2010 (Treasury duty to make regulations where Commission Decision is revoked or annulled) requires the Treasury to make any further provision in relation to the repayment of interest paid by virtue of that Schedule.

References in this section to Schedule 7ZA to TIOPA 2010 are to the Schedule treated as inserted in that Act by paragraph (b) of Schedule 4 to the Taxation (Post-transition Period) Act 2020.

This section is treated as having come into force on 2 December 2025.

In the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001)—

In consequence of the amendments made by subsection (1)—

Section 53 makes provision preserving in certain cases the effect of the law as it applied before the amendments made by this section.

This section—

This section applies in relation to an offshore income gain arising to the trustees of a settlement in a case where Chapter 2 of Part 13 of ITA 2007 (transfer of assets abroad) applies in relation to that gain for the tax year 2025-26 or any subsequent tax year because of the amendments made by section 52.

If the offshore income gain arose in a tax year before the tax year 2025-26 and, by reason of that offshore income gain or a part of it, an offshore income gain was treated as arising in a tax year before the tax year 2025-26 to an individual under paragraphs (2) to (5) of regulation 20 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001)—

An individual is not chargeable to income tax under Chapter 2 of Part 13 of ITA 2007 on income treated as arising to the individual under section 732 of ITA 2007 by reason of the offshore income gain to the extent that the income, without the amendments made by section 52(1) and (2)(b)—

The income would have been non-chargeable income if, without the amendments made by section 52(1) and (2)(b)—

The income would have been non-chargeable income to the extent that, without the amendments made by section 52(1) and (2)(b), it would have exceeded the relevant proportion of income— and, for that purpose, “relevant proportion” has the meaning given by sub-paragraphs (9) to (18) of paragraph 126 of that Schedule as they would have been modified by sub-paragraph (3) of paragraph 101 of that Schedule.

The income would have been non-chargeable income to the extent that, without the amendments made by section 52(1) and (2)(b), it would have exceeded the relevant proportion of income— and, for that purpose, “relevant proportion” has the meaning given by sub-paragraphs (4) to (7) of paragraph 127 of that Schedule as they would have been modified by sub-paragraph (4) of paragraph 102 of that Schedule.

Subsection (3) does not prevent Chapter 2 of Part 13 of ITA 2007 from having effect as though the income not chargeable to tax under that subsection had been charged to tax under section 731 of that Act.

Accordingly—

In section 733 of ITA 2007, after subsection (2D) insert—

This section—

Part 10 of ITA 2007 (special rules about charitable trusts etc) is amended in accordance with subsections (2) to (4).

In section 518 (overview), in subsection (1), for “523” substitute “523A”.

After section 523 (but beneath the same italic heading) insert—

In section 562 (excess expenditure), in subsection (5) (definition of “non-taxable sums”), omit “, legacies”.

section 523A (legacies)

Part 11 of CTA 2010 (charitable companies etc) is amended in accordance with subsections (7) to (9).

In section 466 (overview), in subsection (1), for “474” substitute “474A”.

After section 474 (but beneath the same italic heading) insert—

In section 515 (excess expenditure), in subsection (5) (definition of “non-taxable sums”), omit “, legacies”.

The amendments made by this section have effect in relation to gifts received on or after 6 April 2026.

Section 558 of ITA 2007 (approved charitable investments) is amended in accordance with subsections (2) to (5).

The existing text becomes subsection (2).

Before that subsection insert—

In subsection (2)—

At the end insert—

Section 511 of CTA 2010 (approved charitable investments) is amended in accordance with subsections (7) to (10).

The existing text becomes subsection (2).

Before that subsection insert—

In subsection (2)—

At the end insert—

The amendments made by this section have effect in relation to investments made on or after 6 April 2026.

Section 809ZJ of ITA 2007 (tainted donations) is amended in accordance with subsections (2) and (3).

For subsection (5) substitute—

In subsection (8), at the appropriate place insert—.

Section 939C of CTA 2010 (tainted donations) is amended in accordance with subsections (5) and (6).

For subsection (5) substitute—

In subsection (8), at the appropriate place insert—.

Schedule 9 contains amendments connected with those made by this section in relation to tainted charity donations.

The amendments made by this section and by Schedule 9 have effect in relation to relievable charitable donations made on or after 6 April 2026.

In a case where an associated donation is made on or after 6 April 2026 in relation to a tainted donation made before that date, the tainted donation is regarded for the purposes of sections 809ZMB of ITA 2007, section 939FB of CTA 2010 and section 257B of TCGA 1992 as having “become” a tainted donation at the time when it was made.

In subsections (8) and (9)—

ITTOIA 2005 is amended in accordance with subsections (2) to (4).

After section 23H (double taxation) insert—

In section 7 (income charged), in subsection (1), after “section 23E(1)” insert “, section 23I or section 23M”.

In section 845H (qualifying foreign income)—

In Schedule 11—

The amendments made by this section and that Schedule have effect for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed).

Paragraph 134 of Schedule 9 to FA 2024 (power to make further provision in connection with the abolition of the lifetime allowance charge) is amended as follows.

In sub-paragraph (2)—

In sub-paragraph (3) omit “that increase any person’s liability to tax”.

In sub-paragraph (4), for “5 April” substitute “30 June”.

Part 4 of FA 2004 (pension schemes) is amended in accordance with subsections (2) to (9).

In section 153 (registration of pension schemes), in subsection (5)—

In section 158 (grounds for de-registration), in subsection (1)—

For the italic heading before section 274ZA substitute “Master Trust schemes, collective money purchase schemes etc”.

Before section 274ZA (but after the italic heading) insert—

Section 274ZA (National Employment Savings Trust and Master Trust schemes) is amended as follows—

In section 279 (other definitions), omit subsections (1B) to (1D).

In section 280(2) (general index), in the table—

In section 282 (orders and regulations), after subsection (1A) insert—

In FA 2018, in Schedule 3 (pension schemes), in paragraph 4 (Master Trust schemes registered before passing of FA 2018), in sub-paragraph (2), for “Section 274B(2) of FA 2004 (as inserted by paragraph 1(5))” substitute “Section 274ZA(2) of FA 2004”.

Schedule 7A to TIOPA 2010 (interest restriction returns) is amended as follows.

For paragraph 1 (appointment by a worldwide group of a reporting company) substitute—

After that paragraph insert—

For paragraph 2 (revocation by worldwide group of appointment under paragraph 1), substitute—

In paragraph 4 (appointment of reporting company by Revenue and Customs)—

In paragraph 5 (appointment by officer of Revenue and Customs of replacement reporting company), in sub-paragraph (6)(a), omit sub-paragraph (ii) and the “and” before that sub-paragraph.

In paragraph 6 (obligation of reporting company to notify group members of its status)—

In paragraph 7 (obligation of reporting company to submit interest restriction return)—

Consequently, the italic heading before that paragraph becomes “Submission of interest restriction returns by reporting companies”.

In paragraph 8 (revised interest restriction return), in sub-paragraph (3), for paragraph (b) substitute—

In paragraph 10 (meaning of “consenting company” and “non-consenting company”)—

Omit paragraph 11 (company authorising reporting company appointment treated as consenting company) together with the italic cross-heading before it.

After paragraph 11 insert—

In paragraph 20 (required contents of interest restriction return: full returns and abbreviated returns)—

In paragraph 29 (penalty for failure to deliver return)—

Sub-paragraph (1) applies even if the company submitting the return had not been appointed as a reporting company for the period of account for which the return was submitted; and references to a reporting company in paragraph 40, and elsewhere in this Schedule where the context is an enquiry into the return, are to the company who submitted the return.

In paragraph 56 (power of Revenue and Customs to make determinations where no return filed etc), in sub-paragraph (4)(a), after “has effect” insert “under paragraph 4 or 5”.

Condition A is that no appointment of a reporting company in relation to the period of account has been made before the end of the period of 12 months beginning with the end of the period of account.

The amendment made by subsection (3) has effect in relation to periods of account ending on or after 31 March 2024 (except so far as it relates to the new paragraph 11A of Schedule 7A to TIOPA 2010).

The amendments made by subsection (14) have effect in accordance with provision made by regulations made by the Commissioners for His Majesty’s Revenue and Customs.

The remaining amendments made by this section have effect in relation to periods of account ending on or after 31 March 2026.

In section 407 of TIOPA 2010 (amounts not brought into account in determining a company’s tax-EBITDA)—

The amendments made by this section have effect in relation to periods of account ending on or after 31 December 2021.

An interest restriction return which is revised to take account of the amendments made by this section is, despite paragraph 8(3) of Schedule 7A to TIOPA 2010, of effect if the revised return is received by an officer of Revenue and Customs before 1 October 2026.

In Part 20 of CTA 2009 (general calculation rules), in Chapter 1 (restriction of deductions), after section 1305A insert—

The amendment made by this section has effect in relation to accounting periods beginning on or after 26 November 2025; and for that purpose an accounting period beginning before and ending on or after that date is treated as if so much of the period as falls before that date, and so much of the period as falls on or after that date, were separate accounting periods.

In section 80 of FA 2013 (decommissioning relief agreements), after subsection (4) insert—

The amendment made by subsection (1) has effect in relation to claims under decommissioning relief agreements made in relation to decommissioning expenditure incurred on or after 26 November 2025.

IHTA 1984 is amended as follows.

For section 210 substitute—

In section 211 (burden of tax on death), for subsection (3) substitute—

In section 212 (powers to raise tax), in subsection (1), for “or any part of it” substitute “, any property derived from that property, or any part of that property or of property derived from it”.

In section 239 (certificates of discharge), after subsection (4) insert—

IHTA 1984 is amended as follows.

Omit section 12A (pension drawdown fund not used up: no deemed disposition).

In section 18 (exemption for transfers between spouses or civil partners), after subsection (3) insert—

In section 23 (gifts to charities or registered clubs), after subsection (5A) insert—

In section 24 (gifts to political parties), after subsection (4) insert—

In section 24A (gifts to housing associations), after subsection (3) insert—

In section 25 (gifts for national purposes etc), after subsection (3) insert—

In section 27 (maintenance funds for historic buildings etc), after subsection (2) insert—

In section 151 (treatment of pension rights etc)—

Omit section 152 (cash options).

After section 218A insert—

In section 272 (general interpretation), in subsection (1)—

ITEPA 2003 is amended in accordance with subsections (2) to (6).

section 567B (deduction where inheritance tax is paid in respect of pension death benefit);

After section 567A insert—

After section 579CA insert—

In section 637T (availability of individual’s lump sum and death benefit allowance where multiple lump sum death benefits paid), after subsection (4) insert—

In section 683 (PAYE income), in subsection (3B), at the end insert “or section 579CB (inheritance tax overpaid by scheme administrator: refund treated as pension)”.

FA 2004 is amended in accordance with subsections (8) to (10).

In section 164 (authorised member payments), in subsection (1), after paragraph (e) (but before the “and” that follows it) insert—.

After section 206 insert—

In section 274A (power to split pension schemes), at the end insert—

In IHTA 1984, in section 65 (relevant property: exit charges), after subsection (8A) insert—

The amendment made by subsection (1) is treated as having come into force on 26 November 2025.

In IHTA 1984, after section 75A insert—

The amendment made by subsection (1) is treated as having come into force on 6 April 2025.

In IHTA 1984, after section 155 insert—

The amendment made by subsection (1) is treated as having come into force on 6 April 2025 (and has effect in relation to tax years ending before that date as it has effect in relation to later tax years).

IHTA 1984 is amended in accordance with subsections (2) and (3).

In section 267ZD (further provision about elections under section 267ZC), in subsection (8), for “a lifetime election” substitute “an election under section 267ZC”.

In section 157 (non-residents’ bank accounts), in subsection (3), in each of paragraphs (c) and (d), omit “not”.

The amendment made by subsection (2) is treated as having come into force on 6 April 2025.

The amendment made by subsection (3) is treated as having come into force on 26 November 2025.

Section 157(3) of IHTA 1984 is treated as having had effect for the period beginning with 6 April 2025 and ending with 26 November 2025 with the omission of its paragraphs (c) and (d) (and the insertion of “or” after paragraph (a)).

The Treasury may by regulations made by statutory instrument make provision conferring relief from inheritance tax in respect of infected blood compensation payments.

The provision that may be made under subsection (1) includes provision about the treatment of dispositions of amounts received by way of, or that are otherwise referable to, infected blood compensation payments.

Regulations under subsection (1) may—

In this section—

A statutory instrument containing regulations under subsection (1) that amend or otherwise modify Schedule 15 to FA 2020 may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, the House of Commons.

A statutory instrument containing any other regulations under subsection (1) is subject to annulment in pursuance of a resolution of the House of Commons.

IHTA 1984 is amended as follows.

In section 23 (gifts to charities or registered clubs), in subsection (6)—

In section 29A (abatement of exemption where claim settled out of beneficiary’s own resources), in subsection (6), in paragraph (b) of the definition of “the exempt beneficiary”, omit sub-paragraph (ii) and the “or” before it.

In section 142 (alteration of dispositions taking effect on death)—

The amendments made by this section have effect— References in this subsection to the making of a transfer of value are to be construed in accordance with IHTA 1984.

Subsection (2) applies in relation to a transfer of value (“the original transfer”) to the extent that the value transferred by it is attributable to property which meets each of the following conditions, namely—

For the purposes of IHTA 1984—

Subsections (1) and (2) have effect—

Subsections (1) to (3)are to be construed as though they were contained in section 23 of IHTA 1984.

VATA 1994 is amended as follows.

In Schedule 8, in Group 12 (drugs, medicines, aids for the disabled, etc), omit item 14.

In consequence of the amendment made by subsection (2), in that Group—

In Schedule 6 (valuation: special cases), after paragraph 11A insert—

The amendments made by this section have effect in relation to leases of motor vehicles commencing on or after—

In Schedule 7A to FA 1994 (insurance premium tax: contracts that are not taxable), for paragraph 3 (and the italic heading before it) substitute—

The amendment made by this section has effect in relation to contracts relating to leases of motor vehicles where the lease commences on or after—

In section 53 of VATA 1994 (tour operators), after subsection (3) insert—

The amendment made by subsection (1) has effect in relation to supplies made on or after 2 January 2026.

Schedule 4 to VATA 1994 (matters to be treated as supply of goods or services) is amended as follows.

In paragraph 5 (transfer of business goods treated as supply)—

After paragraph 5 insert—

The amendments made by subsections (1) to (3) have effect in relation to donations made on or after 1 April 2026.

In section 33 of VATA 1994 (refunds of VAT in certain cases), in subsection (3)(a) (which provides for the section to apply to local authorities and combined authorities), for the words from “and” to the end substitute “, a combined authority established by an order made under section 103(1) of the Local Democracy, Economic Development and Construction Act 2009 and a combined county authority established by regulations made under section 9(1) of the Levelling-up and Regeneration Act 2023;”.

The amendment made by this section has effect in relation to supplies made, and importations or acquisitions taking place, on or after 1 December 2025.

After section 89B of FA 1986 (stamp duty reserve tax) insert—

The amendment made by subsection (1) has effect in relation to an agreement to transfer chargeable securities in a company that is first listed on or after 27 November 2025 (with “first listed” having the same meaning as in section 89C(1)(a) of FA 1986, as inserted by subsection (1)).

In Chapter 3 of Part 3 of FA 2014 (remote gaming duty), in section 155(3) (which specifies the rate), for “21%” substitute “40%”.

The amendment made by this section has effect in relation to accounting periods beginning on or after 1 April 2026.

In a case where an accounting period (a “straddling period”) begins before 1 April 2026 and ends on or after that date— are to be treated as separate accounting periods for the purpose of calculating the duty concerned for the straddling period.

For the purposes of subsection (3), the amount on which duty is charged is apportioned to those separate accounting periods on a time basis according to the respective lengths of those periods.

Chapter 1 of Part 3 of FA 2014 (general betting duty) is amended as follows.

In the cross-heading after section 125, after “General” insert “, remote”.

In section 126 (meaning of “general bet”), in subsection (1) after paragraph (a) insert—.

After 127 (general bets) insert—

remote bet section 127A

In section 194(4) of FA 2014 (made affirmative procedure for regulations), before paragraph (za) insert—.

This section has effect in relation to accounting periods beginning on or after 1 April 2027, and the charge under section 127A of FA 2014 is on bets made on or after that date.

In a case where an accounting period (a “straddling period”) begins before 1 April 2027 and ends on or after that date— are to be treated as separate accounting periods for the purpose of calculating the duty concerned for the straddling period.

For the purposes of subsection (8), the amount on which duty is charged is apportioned to those separate accounting periods on a time basis according to the respective lengths of those periods.

Omit—

Schedule 13 makes—

The repeals and amendments made by this section and Schedule 13 come into force on 1 April 2026.

The Treasury may by regulations make such further transitional, transitory or saving provision as the Treasury consider appropriate in connection with the coming into force of those repeals and amendments.

Regulations under subsection (4) are to be made by statutory instrument.

Part 2 of F(No.2)A 2023 (alcohol duty) is amended as follows.

For Schedule 7 (main rates) substitute—.

For Schedule 8 (reduced rates for qualifying draught products) substitute—.

For Schedule 9 (duty discount for small producer alcoholic products)—.

In consequence of the amendments made by the preceding subsections of this section, in Schedule 2 to the Travellers’ Allowances Order 1994 (which provides in certain circumstances for a simplified calculation of excise duty on goods brought into Great Britain)—

The amendments made by this section are treated as having come into force on 1 February 2026.

1 Cigarettes An amount equal to the higher of— 16.5% of the retail price plus £353.50 per thousand cigarettes, or £471.93 per thousand cigarettes. 2 Cigars £440.93 per kilogram 3 Hand-rolling tobacco £503.80 per kilogram 4 Other smoking tobacco and chewing tobacco £193.87 per kilogram 5 Tobacco for heating £363.36 per kilogram

In consequence of the provision made by subsection (1), in Schedule 2 to the Travellers’ Allowances Order 1994 (which provides in certain circumstances for a simplified calculation of excise duty on goods brought into Great Britain)—

The amendments made by this section are treated as having come into force at 6pm on 26 November 2025.

1 Cigarettes An amount equal to the higher of— 16.5% of the retail price plus £394.09 per thousand cigarettes, or £518.75 per thousand cigarettes. 2 Cigars £508.12 per kilogram 3 Hand-rolling tobacco £574.30 per kilogram 4 Other smoking tobacco and chewing tobacco £248.07 per kilogram 5 Tobacco for heating £426.47 per kilogram

In consequence of the provision made by subsection (1), in Schedule 2 to the Travellers’ Allowances Order 1994 (which provides in certain circumstances for a simplified calculation of excise duty on goods brought into Great Britain)—

The amendments made by this section come into force on 1 October 2026.

Schedule 1 to VERA 1994 (annual rates of vehicle excise duty) is amended as follows.

In paragraph 1 (general rate)—

CO2 Emissions Figure (1) (2) (3) Exceeding or, in the first row, equal to or exceeding Not exceeding Rate g/km g/km £ 0 100 20 100 110 20 110 120 35 120 130 170 130 140 200 140 150 225 150 165 275 165 175 325 175 185 360 185 200 410 200 225 445 225 255 760 255 — 790

In the sentence immediately following the Table in that paragraph, for the words from “as if” to the end substitute “as if, in column (3), in the last two rows, “445” were substituted for “760” and “790”.”

CO2 Emissions Figure (1) (2) (3) Exceeding or, in the first row, equal to Not exceeding Rate g/km g/km £ 0 0 10 0 50 115 50 75 135 75 90 280 90 100 365 100 110 405 110 130 455 130 150 560 150 170 1410 170 190 2270 190 225 3420 225 255 4850 255 — 5690

CO2 Emissions Figure Rate (1) (2) (3) Exceeding or, in the first row, equal to or exceeding Not exceeding Rate g/km g/km £ 0 50 135 50 75 280 75 90 365 90 100 405 100 110 455 110 130 560 130 150 1410 150 170 2270 170 190 3420 190 225 4850 225 255 5690 255 — 5690

In paragraph 1GD(1)(rates for any other licence for light passenger vehicles registered on or after 1 April 2017), for “£195” substitute “£200”.

In paragraph 1GE(2) (rates for light passenger vehicles registered on or after 1 April 2017 with a price exceeding £40,000), for “£620” substitute “£640”.

In paragraph 1J(a) (rates for light goods vehicles that are not pre-2007 or post-2008 lower emission vans), for “£345” substitute “£360”.

In paragraph 2(1) (rates for motorcycles)—

The amendments made by this section have effect in relation to licences taken out on or after 1 April 2026.

Schedule 1 to VERA 1994 (annual rates of vehicle excise duty) is amended as follows.

Revenue weight of vehicle Rate (1) (2) (3) (4) (5) Exceeding Not exceeding Two axle vehicle Three axle vehicle Four or more axle vehicle kgs kgs £ £ £ 3,500 7,500 177 177 177 7,500 11,999 215 215 215 11,999 14,000 102 102 102 14,000 15,000 113 102 102 15,000 19,000 322 102 102 19,000 21,000 322 135 102 21,000 23,000 322 226 102 23,000 25,000 322 322 226 25,000 27,000 322 322 322 27,000 44,000 322 322 601

Revenue weight of vehicle Rate (1) (2) (3) (4) (5) Exceeding Not exceeding Any no of semi-trailer axles 2 or more semi-trailer axles 3 or more semi-trailer axles kgs kgs £ £ £ 3,500 11,999 177 177 177 11,999 22,000 86 86 86 22,000 23,000 90 86 86 23,000 25,000 163 86 86 25,000 26,000 285 108 86 26,000 28,000 285 157 86 28,000 31,000 322 322 86 31,000 33,000 601 601 226 33,000 34,000 601 654 226 34,000 38,000 741 741 601 38,000 44,000 913 913 913 Revenue weight of vehicle Rate (1) (2) (3) (4) (5) Exceeding Not exceeding Any no of semi-trailer axles 2 or more semi-trailer axles 3 or more semi-trailer axles kgs kgs £ £ £ 3,500 11,999 177 177 177 11,999 25,000 86 86 86 25,000 26,000 108 86 86 26,000 28,000 157 86 86 28,000 29,000 226 86 86 29,000 31,000 311 86 86 31,000 33,000 601 226 86 33,000 34,000 654 322 86 34,000 36,000 654 322 226 36,000 38,000 741 601 322 38,000 44,000 913 913 601

The amendments made by this section have effect in relation to licences taken out on or after 1 April 2026.

Vehicle excise duty band Plated gross weight of trailer Total weight Rate (1) (2) (3) (4) (5) (6) Exceeding (kgs) Not exceeding (kgs) Exceeding (kgs) Not exceeding (kgs) £ B(T) 4,000 12,000 - 27,000 247 B(T) 12,000 - - 33,000 317 B(T) 12,000 - 33,000 36,000 431 B(T) 12,000 - 36,000 38,000 343 B(T) 12,000 - 38,000 - 477 D(T) 4,000 12,000 - 30,000 392 D(T) 12,000 - - 38,000 462 D(T) 12,000 - 38,000 - 477 Vehicle excise duty band Plated gross weight of trailer Total weight Rate (1) (2) (3) (4) (5) (6) Exceeding (kgs) Not exceeding (kgs) Exceeding (kgs) Not exceeding (kgs) £ B(T) 4,000 12,000 - 33,000 247 B(T) 12,000 - - 38,000 317 B(T) 12,000 - 38,000 40,000 421 B(T) 12,000 - 40,000 - 317 C(T) 4,000 12,000 - 35,000 328 C(T) 12,000 - - 38,000 397 C(T) 12,000 - 38,000 40,000 421 C(T) 12,000 - 40,000 - 397 D(T) 4,000 10,000 - 33,000 392 D(T) 4,000 10,000 33,000 36,000 431 D(T) 10,000 12,000 - 38,000 392 D(T) 12,000 - - - 462 Vehicle excise duty band Plated gross weight of trailer Total weight Rate (1) (2) (3) (4) (5) (6) Exceeding (kgs) Not exceeding (kgs) Exceeding (kgs) Not exceeding (kgs) £ B(T) 4,000 12,000 - 35,000 247 B(T) 12,000 - - - 317 C(T) 4,000 12,000 - 37,000 328 C(T) 12,000 - - - 397 D(T) 4,000 12,000 - 39,000 392 D(T) 12,000 - - - 462 E(T) 4,000 12,000 - - 575 E(T) 12,000 - - - 645 Vehicle excise duty band Plated gross weight of trailer Total weight Rate (1) (2) (3) (4) (5) (6) Exceeding (kgs) Not exceeding (kgs) Exceeding (kgs) Not exceeding (kgs) £ B(T) 4,000 12,000 - 27,000 247 B(T) 12,000 - - 31,000 317 B(T) 12,000 - 31,000 33,000 431 B(T) 12,000 - 33,000 36,000 654 B(T) 12,000 - 36,000 38,000 477 B(T) 12,000 - 38,000 - 649 D(T) 4,000 12,000 - 30,000 392 D(T) 12,000 - - 33,000 462 D(T) 12,000 - 33,000 36,000 654 D(T) 12,000 - 36,000 38,000 477 D(T) 12,000 - 38,000 - 649 Vehicle excise duty band Plated gross weight of trailer Total weight Rate (1) (2) (3) (4) (5) (6) Exceeding (kgs) Not exceeding (kgs) Exceeding (kgs) Not exceeding (kgs) £ B(T) 4,000 10,000 - 29,000 247 B(T) 4,000 10,000 29,000 31,000 311 B(T) 10,000 12,000 - 33,000 247 B(T) 12,000 - - 36,000 317 B(T) 12,000 - 36,000 38,000 421 B(T) 12,000 - 38,000 - 583 C(T) 4,000 10,000 - 31,000 328 C(T) 4,000 10,000 31,000 33,000 431 C(T) 10,000 12,000 - 35,000 328 C(T) 12,000 - - 36,000 397 C(T) 12,000 - 36,000 38,000 421 C(T) 12,000 - 38,000 - 583 D(T) 4,000 10,000 - 31,000 392 D(T) 4,000 10,000 31,000 33,000 431 D(T) 4,000 10,000 33,000 35,000 654 D(T) 10,000 12,000 - 36,000 392 D(T) 10,000 12,000 36,000 37,000 421 D(T) 12,000 - - 38,000 462 D(T) 12,000 - 38,000 - 583 Vehicle excise duty band Plated gross weight of trailer Total weight Rate (1) (2) (3) (4) (5) (6) Exceeding (kgs) Not exceeding (kgs) Exceeding (kgs) Not exceeding (kgs) £ B(T) 4,000 12,000 - 35,000 247 B(T) 12,000 - - - 317 C(T) 4,000 12,000 - 37,000 328 C(T) 12,000 - - - 397 D(T) 4,000 10,000 - 36,000 392 D(T) 4,000 10,000 36,000 37,000 477 D(T) 10,000 12,000 - 39,000 392 D(T) 12,000 - - - 462 E(T) 4,000 10,000 - 38,000 575 E(T) 4,000 10,000 38,000 - 649 E(T) 10,000 12,000 - - 575

In that paragraph, in sub-paragraph (7), for “£631” substitute “£654”.

The amendments made by this section have effect in relation to licences taken out on or after 1 April 2026.

In— for “£1,643” substitute “£1,703”.

The amendments made by this section have effect in relation to licences taken out on or after 1 April 2026.

In paragraph 7(3A) of Schedule 1 to VERA 1994 (which specifies the rate applicable to haulage vehicles other than showman’s vehicles), for £365” substitute “£380”.

The amendment made by this section has effect in relation to licences taken out on or after 1 April 2026.

In paragraph 1GE of Schedule 1 to VERA 1994 (rates for light passenger vehicles registered on or after 1 April 2017 with a price exceeding £40,000)—

The amendments made by this section have effect in relation to any licence where the period for which the licence has effect begins on or after 1 April 2026 (whenever the licence is taken out).

Schedule 1 to the HGV Road User Levy Act 2013 (rates of the levy) is amended as follows.

Band Daily rate Weekly rate Monthly rate Half-yearly rate Yearly rate A £3.22 £8.05 £16.10 £96.60 £161 B £7.74 £19.35 £38.70 £232.20 £387 C £9.67 £30.95 £61.90 £371.40 £619

Band Daily rate Weekly rate Monthly rate Half-yearly rate Yearly rate A £4.18 £10.45 £20.90 £125.40 £209 B £10.06 £25.15 £50.30 £301.80 £503 C £10.74 £40.20 £80.40 £482.40 £804

The amendments made by this section come into force on 1 April 2026.

Section 30 of FA 1994 (air passenger duty: rates) is amended as follows.

In subsection (1B) (journeys ending in the United Kingdom)—

In subsection (2) (short-haul journeys)—

In subsection (2A) (long-haul journeys)—

In subsection (4A) (ultra-long haul journeys)—

In subsection (4E) (journeys on aircraft equipped to carry fewer than 19 passengers)—

The amendments made by this section have effect in relation to the carriage of passengers beginning on or after 1 April 2027.

Taxable commodity supplied Rate at which levy payable if supply is not a reduced-rate supply Electricity £0.00827 per kilowatt hour Gas supplied by a gas utility or any gas supplied in a gaseous state that is of a kind supplied by a gas utility £0.00827 per kilowatt hour Any petroleum gas, or other gaseous hydrocarbon, supplied in a liquid state £0.02175 per kilogram Any other taxable commodity £0.06468 per kilogram

The amendment made by this section has effect in relation to supplies treated as taking place on or after 1 April 2027.

Section 42 of FA 1996 (amount of landfill tax) is amended as follows.

In subsection (1)(a) (standard rate), for “£126.15” substitute “£130.75”.

In subsection (2) (reduced rate for certain disposals), in the words after paragraph (b)—

The amendments made by this section have effect in relation to disposals made (or treated as made) on or after 1 April 2026.

In section 16(4) of FA 2001 (rate of aggregates levy), for “£2.08” substitute “£2.16”.

The amendment made by this section has effect in relation to aggregate subjected to commercial exploitation on or after 1 April 2026.

In section 45(1) of FA 2021 (rate of plastic packaging tax), for “£223.69” substitute “£228.82”.

The amendment made by this section has effect in relation to packaging components produced in, or imported into, the United Kingdom on or after 1 April 2026.

Part 2 of FA 2021 (plastic packaging tax) is amended as follows.

In section 47(1)(a) (chargeable plastic packaging components)—

In section 49 (meaning of “plastic” and “recycled plastic”)—

After section 49 insert—

In section 83 (interpretation), at the appropriate places insert—; .

In section 84(5)(b) (regulations), for “and “recycled plastic”” substitute “, “recycled plastic” and “attributed recycled plastic””.

The following come into force on the day on which this Act is passed—

The following come into force on 1 April 2027—

In section 36(1) of FA 2017 (rates of soft drinks industry levy)—

The amendments made by this section have effect in relation to chargeable events occurring on or after 1 April 2026.

Section 8 of TCTA 2018 (the customs tariff) is amended as follows.

After subsection (3) insert—

After subsection (8) insert—

Schedule 4 to TCTA 2018 (dumping of goods or foreign subsidies causing injury to UK industry) is amended as follows.

In the italic heading before paragraph 9, after “investigation” insert “: request made to TRA”.

In paragraph 9 (initiation of a dumping or a subsidisation investigation)—

After paragraph 9 insert—

In paragraph 10(2) (conduct of a dumping or a subsidisation investigation), after paragraph (d) insert—.

In paragraph 17(8B) (TRA’s duty to recommend an anti-dumping amount or countervailing amount)—

In paragraph 18 (TRA's recommendations about an anti-dumping amount or a countervailing amount)—

Schedule 5 to TCTA 2018 (increase in imports causing serious injury to UK producers) is amended in accordance with subsections (2) to (5).

In the italic heading before paragraph 7, after “investigation” insert “: request made to TRA”.

In paragraph 7 (initiation of a safeguarding investigation)—

After paragraph 7 insert—

But the requirement in sub-paragraph (5)(b) does not apply in a case where—

Schedule 5A to TCTA 2018 (increase in imports as a result of free trade agreement causing serious injury to UK producers) is amended in accordance with subsections (7) and (8).

Sub-paragraph (2) is to be read as if in paragraph (a)— Sub-paragraph (3) is to be read as if in paragraph (a), for “the applicant UK producers think they” there were substituted “UK producers of the goods”.

After paragraph 5 insert—

This section and section 110 come into force on such day as the Secretary of State may by regulations made by statutory instrument appoint; and different days may be appointed for different purposes.

Section 20 of CEMA 1979 (approval of wharves) is amended as follows.

In subsection (1A)—

After subsection (1B) insert—

Section 20(A) of CEMA 1979 (approved wharves) is amended as follows.

Renumber that section as section 20A.

In subsection (1)—

In subsection (1A), after “imposed” insert “by or”.

The amendments made by this section come into force on the day on which this Act is passed.

But CEMA 1979 continues to have effect, for any purpose in connection with duty under section 30A(3) or 40A of TCTA 2018, as if the amendments made by this section had not been made.

In section 54 of FA 2022 (charge to the levy)—

In section 55 of FA 2022 (UK revenue: amount), in subsection (1)—

In consequence of the amendments made by the preceding subsections, in section 189 of the Economic Crime and Corporate Transparency Act 2023, in subsections (3)(b)(ii) and (11) (which operate by reference to provisions amended by this section), for “large or very large” substitute “in any of bands B to D”.

The amendments made by this section have effect for the financial year beginning with April 2026 and subsequent financial years.

In section 106 of FA 2013 (adjustment of amount chargeable), omit subsection (6).

The amendment made by this section is treated as always having been in force.

An excise duty is charged on vaping products produced in, or imported into, the United Kingdom.