Day: 7 September 2026

New regulations have been established to operationalise the carbon border adjustment mechanism, a novel tax introduced through Part 5 of the Finance Act 2026. The CBAM framework will apply to imports of certain goods into the UK, requiring businesses involved in importing affected products to understand and comply with the new requirements. These regulations set out the practical provisions for how the mechanism will function, including definitions, procedures, and compliance obligations for affected traders and importers.

Source: legislation.gov.uk – Read the original

HMRC has published guidance explaining how it will administer the loan charge settlement scheme for taxpayers with disguised remuneration loan charge liabilities. The scheme provides a mechanism for affected individuals to resolve their tax positions on these liabilities. The policy paper outlines the practical processes and requirements that HMRC will follow when handling settlement applications under the scheme.

Source: HMRC (GOV.UK) – Read the original

HMRC has released statutory guidance providing reference documents for the Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020. The guidance contains the UK’s preferential tariff rates and Rules of Origin applicable to trade agreements covered under this regulation. This resource enables businesses to determine the correct classification and eligibility of goods under various preferential trade arrangements following the UK’s departure from the EU.

Source: HMRC (GOV.UK) – Read the original

HMRC has released comprehensive instructions for completing data elements required when submitting written export declarations through the Customs Declaration Service. The guidance clarifies how traders should populate mandatory and conditional fields to ensure declarations are processed correctly. This updated resource is intended to help exporters and their customs agents meet CDS submission requirements and avoid declaration errors.

Source: HMRC (GOV.UK) – Read the original