1 January 

• New 40% first-year allowance available for expenditure incurred on main rate assets, with exclusions
• Reforms to UK’s transfer pricing, permanent establishment and DPT rules​
• Pillar Two side-by-side agreement with the US to be applied
• Common Reporting Standard (CRS) changes require certain financial institutions and trusts to register with HMRC
• Implementation of Cryptoasset Reporting Framework (CARF) requires UK reporting cryptoasset providers to collect information about in scope transactions and report these to HMRC

2 January 

Suppliers of private hire vehicle and taxi services excluded from the scope of the Tour Operators’ Margin Scheme

23 January 

Industrial strategy zones: Tax sites for the Anglesey Freeport designated and tax reliefs take effect

26 February

Industrial strategy zones: Tax sites for the Glasgow City Region and North East of Scotland Investment Zones designated and tax reliefs take effect

31 March

Changes to simplify administration in relation to reporting companies under the corporate interest restriction – most changes take effect for periods ending on or after 31 March 2026

1 April

• Permanently lower business rate multipliers apply for retail, hospitality and leisure properties with rateable values below £500,000
• Increased business rate multiplers on most properties with rateable values of £500,000 and above
• The 2026 business rates revaluation takes effect, a transitional scheme for those most effected will cap some increases in bills
• A new ’pubs and music venues relief’ provides a 15% business rates relief for pubs and live music venues in England in 2026/27
• Reduction of main rate of writing down allowance for plant or machinery from 18% to 14% for companies
• Remote gaming duty increase from 21% to 40%
• Abolition of bingo duty
• New VAT relief introduced for business donations of goods to charity
• Increase in level of fixed late filing penalties for corporation tax for returns for which filing date is on or after 1 April 2026
• Changes to charity compliance rules to prevent the abuse of charity tax reliefs

6 April

• Umbrella company reform – PAYE/NIC non-compliance will no longer sit with the umbrella company
• Changes to allow more medium-sized companies to offer Enterprise Management Incentive (EMI) options to employees
• The rate of income tax relief on VCT investments reduces from 30% to 20%
• CGT rate increase from 14% to 18% where Business Asset Disposal Relief or Investors' Relief applies
• MTD for income tax – individuals with over £50,000 of business receipts will be mandated to enter the regime
• Inheritance tax changes: restrictions to APR and BPR will apply – combined £2.5 million allowance for 100% relief; 50% relief for the excess. Shares listed on the AIM restricted to 50% relief. Interests in non-UK entities that own UK agricultural property brought within the scope of IHT
• Dividend rates will increase by 2% to 10.75% for basic rate taxpayers and 35.75% for higher rate taxpayers
• Carried interest brought within the income tax framework
• Phasing in some of the Employment Rights Act reforms; establishment of Fair Work Agency
• Increase in annual limits for the aggregate investments that can be received by VCT and EIS companies in Great Britain (not Northern Ireland)
• Reduction of main rate of writing down allowance for plant or machinery from 18% to 14% for unincorporated businesses
• Strengthening HMRC powers to tackle fraud within the Construction Industry Scheme