Day: 28 October 2026

The third set of commencement regulations for the Bus Services Act 2025 has been enacted, bringing additional provisions of the legislation into force in England. These regulations implement further aspects of the 2025 Act, which establishes the legal framework governing bus service operations and regulation. The regulations include transitional provisions to manage the implementation of the newly activated requirements. This marks the third phase of the 2025 Act’s staged introduction to full operation.

Source: legislation.gov.uk – Read the original

HMRC has introduced a revised ISA compliance framework designed to modernise the system and enable digital reporting capabilities. The new framework aims to ensure that Individual Savings Accounts operate as originally intended whilst supporting more efficient compliance processes. The measures represent an update to how ISA providers and account holders interact with the tax authority on ISA matters.

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

HMRC has updated its policy on Stamp Duty Land Tax to provide relief for purchases made by Local Government Pension Scheme pooled investment vehicles. The change affects property acquisitions conducted through these pension scheme investment arrangements. This relief recognises the specific status of LGPS pooled vehicles in the property transaction framework and reduces the SDLT burden on their real estate purchases.

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

HMRC has published a tax information and impact note outlining modifications to the regulatory framework governing employee share schemes, encompassing Company Share Option Plans and Enterprise Management Incentive arrangements. The changes affect how employers and employees are taxed when participating in these share-based compensation programmes. This update clarifies the rules businesses must follow when operating qualifying employee share schemes and the tax treatment participants will receive.

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

HMRC has issued guidance on how image rights payments connected to employment arrangements are taxed for income tax purposes. The policy paper sets out the tax treatment applicable to individuals receiving such payments, particularly relevant for athletes, entertainers and public figures whose image is commercially exploited. This clarification affects how these payments should be reported and assessed by taxpayers and employers in relation to employment income tax obligations.

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

HMRC has published a policy paper establishing the framework governing exploration and exploitation rights for activities on the UK Continental Shelf. The policy clarifies the regulatory approach and legal rights applicable to operators conducting resource extraction and related activities in UK offshore waters. This measure affects companies involved in oil, gas, minerals, and other extractive industries operating on the continental shelf.

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

New draft legislation will establish revised requirements for correcting inaccuracies in returns and documents submitted to HMRC. The measure aims to modernise how businesses and individuals can rectify errors in their tax filings and compliance documentation. The policy sets out the framework for the correction process that will replace existing procedures.

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

The government will amend the VAT Act 1994 to reflect the planned abolition of NHS England in 2027. The changes are necessary to ensure VAT treatment remains clear following the restructuring of England’s health service. Specific details of how VAT exemptions and reliefs will be reallocated to successor organisations have been outlined in this tax information and impact note.

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

The UK government has published a policy paper detailing reforms to Capital Gains Tax (CGT) relief provisions that apply when business assets are donated. The document sets out modifications to how CGT relief operates for such gifts under UK tax law. This impacts business owners and those advising on gift transactions involving business assets.

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

The UK government has introduced modifications to how Income Tax is calculated on savings and property income through a formal policy paper and tax impact note. These changes adjust the tax rates and thresholds applicable to individuals receiving income from savings accounts and residential property investments. The policy document outlines the specific rate changes and provides analysis of the expected impact on taxpayers across different income brackets. Affected individuals and businesses should review the updated rates to understand how their tax liability may be modified.

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