Draft Finance Bill 2026–27
Committee work type: Inquiry. Committee work type: Inquiry.
Source ↗UK POLICY FILE
Business Tax
Monitoring fiscal measures affecting investment and employment costs.
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Finance: Interministerial Standing Committee – 17 September 2026
Communiqué from meeting held by the Finance: Interministerial Standing Committee on 17 September 2026.
Source ↗Public Houses: Business Rates
Topic: Public Houses: Business Rates. Asked by David Simmonds (Conservative). For Treasury. Answer published by James Murray.
Source ↗Employee Ownership: Taxation
Topic: Employee Ownership: Taxation. Asked by Martin Wrigley (Liberal Democrat). For Treasury. Answer published by James Murray.
Source ↗Employee Ownership: Young People
Topic: Employee Ownership: Young People. Asked by Martin Wrigley (Liberal Democrat). For Treasury. Answer published by James Murray.
Source ↗Business Rates
Topic: Business Rates. Asked by David Simmonds (Conservative). For Treasury. Answer published by James Murray.
Source ↗Lord Houchen of High Leven (Con): Tourism: Overnight Visitor Levy
My Lords, I declare an interest as one of the mayors who is going to receive the power to implement the overnight levy. Let me put on record and be extremely clear that, for as long as I continue to be Mayor of the Tees Valley, there will be no overnight levy implemented within my region, specifically because it has a significant impact on relatively socioeconomically poor families who decide to holiday within the UK. It is an additional tax on holidays, but it is also a tax on business. We have contractors, white…
Source ↗The Earl of Effingham (Con): Agriculture: Mental Health Pressures
My Lords, I thank the right reverend Prelate the Bishop of Hereford for highlighting what we know to be an incredibly serious issue for the agricultural sector. I highlight my entry in the register of interests as receiving rental income from an agricultural grain store. It is unclear to many why the Government do not appear to understand the farming industry and those whose livelihoods are connected to agriculture. The president of the National Farmers’ Union summed up the situation: “The human impact of this goes…
Source ↗Lord Lexden (Con): Independent Schools: Tax Changes
My Lords, in the autumn of 2024, when I was in better health, I introduced two debates on the imposition of VAT on independent school fees, due to come into effect on 1 January 2025. Most speakers in those debates referred to the grave difficulties independent schools and the families of their pupils would face as a result of Labour’s education tax—the first to be introduced in Britain and, apart from a disastrous experiment in Greece, the first in Europe. The Government added further to the costs of independent sc…
Source ↗Lord Caine (Con): Independent Schools: Tax Changes
My Lords, I support every word spoken by my noble friend Lord Lexden in his fine and typically erudite opening speech, and indeed the words of all other speakers so far in this debate. It is telling that the Government Whips have not been able to muster a single Back-Bencher to support the political choice to impose VAT on independent schools. I also note the lack of any speakers in this debate from the Liberal Democrat Back Benches. For the Minister today, it really is a case of herself alone. I also say what a pl…
Source ↗The Minister of State, Department for Education and Department for Work and Pensions (Baroness Smith of Malvern) (Lab): Independent Schools: Tax Changes
My Lords, I thank the noble Lord, Lord Lexden, for securing this debate and for the long-standing interest he has taken in independent schools and the families they serve. It is very good to have him back on the Benches, and I wish him well. I will respond fully and with evidence to the points raised. Before I do, I will comment that, while I understand there are very strong views about this issue, I cannot help thinking that, more characteristically for this House, it might have been better with a bit less questio…
Source ↗Tax Yields: Greater London and South East
Topic: Tax Yields: Greater London and South East. Asked by Mr Louie French (Conservative). For Treasury. Answer published by James Murray.
Source ↗Employee Ownership
Topic: Employee Ownership. Asked by Martin Wrigley (Liberal Democrat). For Treasury. Answer published by James Murray.
Source ↗Public Houses: Business Rates
Topic: Public Houses: Business Rates. Asked by Katie Lam (Conservative). For Treasury. Answer published by James Murray.
Source ↗Lord Wilson of Sedgefield (Lab): Business Rates Avoidance Schemes
I thank my noble friend for his question. While they do not apply to business rates, additional criminal sanctions were introduced in the Finance Act 2026 that will enhance the deterrent against the promotion of tax avoidance and increase protection against harm caused to the Exchequer, the taxpayer and the tax system. The new measures, when combined with HMRC’s existing powers, mean that promoters of marketed tax avoidance will face large fines or criminal sanctions if they do not disclose their avoidance scheme,…
Source ↗Baroness Bennett of Manor Castle (GP): Business Rates Avoidance Schemes
My Lords, the noble Lord, Lord Sikka, referred to the role of enablers in supporting business tax avoidance schemes. We know that, in many areas of financial crime, estate agents, bankers, lawyers and accountants are corruptly aiding these avoidance schemes. How many such enablers have been prosecuted for business tax avoidance schemes in recent years?
Source ↗Lord Wilson of Sedgefield (Lab): Business Rates Avoidance Schemes
My noble friend raises an important point on tax avoidance with business rates. There has been coverage of some of the most egregious instances of business rate avoidance over recent years, including the use of snail farms and prayer rooms. A recent court case, which my noble friend referred to, has made it significantly more difficult for the most common avoidance schemes to be effective. This was a case brought by the City of London; the Court of Appeal ruled in favour of the City of London, and as a result the a…
Source ↗Lord Sikka (Lab): Business Rates Avoidance Schemes
My Lords, I thank the Minister for his reply. After claiming empty property relief, some businesses place empty boxes in premises to give the appearance of occupation, subsequently removing them to trigger an additional period of relief. One scheme operated by Principled Offsite Logistics Ltd has deprived councils of £500 million of business rates. Can the Minister ensure that business rates avoidance receives the same priority as tax avoidance and will the Government publish an annual estimate of the revenues lost…
Source ↗Compliance checks: penalties for CIS payments or returns connected to deliberate non-compliance — CC/FS96
This factsheet tells you about the penalties we may charge if we’ve issued a determination under either section 62A or 62B of the Finance Act 2004 for the Construction Industry Scheme (CIS).
Source ↗Emma Lewell (South Shields) (Lab): Tourism: Overnight Visitor Levy
South Shields tourism is largely made up of families from neighbouring regions who have saved hard all year round to spend a few days at the seaside, and even if the increase from this measure is marginal, they will not come. My constituents, family-run B&Bs, caravan parks, hotels and wider hospitality industry have been unequivocal with me that they do not want this measure. It is the wrong tax at the worst time. The extra burden on their business will tip my local industry over. Devolution works only when it refl…
Source ↗Jim McMahon: Tourism: Overnight Visitor Levy
I think those are really important points. My hon. Friend is a fantastic champion for Cornwall and its economy, and he also recognises that the local partnerships that are developing are marshalling around devolution in quite an interesting way. Because of the representations that he and others have made, we have included foundation strategic authorities, so a mayor is not needed to introduce the levy. I think the wider growing-out of fiscal devolution is really exciting. We cannot have devolution if local authorit…
Source ↗Lord Wilson of Sedgefield (Lab): Tax Burden and Economic Growth
The noble Baroness has mentioned young people and the importance of them staying in the UK and working here. We all know the problems that we have with NEETs. We need to consider what some businesses around the country and internationally are saying about doing business in this country; for example, “businesses are starting to press ahead with investment … we are starting to see the data moving in the right direction” and “Despite geopolitical tensions, cost-of-living pressures and fiscal uncertainty, the fundament…
Source ↗Economic Secretary to the Treasury speech at UK Private Capital
The Economic Secretary to the Treasury delivered her speech at UK Private Capital.
Source ↗Bloomberg.com: Chancellor Healey Puts Regional Growth, Fiscal Discipline at Heart of Vision
Chancellor Healey Puts Regional Growth, Fiscal Discipline at Heart of Vision Bloomberg.com
Source ↗BBC: Chancellor to say UK economy 'turning a corner' despite debt concerns
Chancellor to say UK economy 'turning a corner' despite debt concerns BBC
Source ↗Danny Beales: VAT on Medication: Compassionate Access Schemes
I agree that we do need to find a permanent and comprehensive solution. Hopefully we can air those issues fully today. Fundamentally, the principle underlying this issue is very straightforward: if a pharmaceutical company is willing to provide a lifesaving medicine to a patient free of charge because that patient has a serious or life-threatening condition and has exhausted the available standard treatment options, the tax system should not make access to those lifesaving drugs more difficult. That reflects the po…
Source ↗Reducing taxation on rural businesses
Category: Oral questions. Type: Main Chamber. House: Lords.
Source ↗Baroness Prentis of Banbury (Con): Rural Businesses: Taxation
My Lords, the family farm tax is both hated and feared. It taxes a business asset as if it is personal wealth. I know that the Minister was not consulted—nor was her department—before the tax was put in place. Will she reassure the House, which I know appreciates all that she does for us, that she will personally make representations to this Chancellor before this Budget, as those of us who care about the countryside and the NFU are currently doing, to make sure that this hated tax can be removed?
Source ↗The Parliamentary Under-Secretary of State, Department for Environment, Food and Rural Affairs (Baroness Hayman of Ullock) (Lab): Rural Businesses: Taxation
My Lords, the Government keep all taxes under review, with decisions being for the Chancellor at fiscal events. We recognise the vital contribution of rural communities and businesses to the UK economy and the need for policies that actually work for rural areas. Support available includes rural rate relief, small business rates relief, a high VAT registration threshold and the small profits corporation tax rate. We are also supporting farmers through reduced red diesel duty rates until the end of this year, and th…
Source ↗Financial Times: ‘Exit tax’ on UK entrepreneurs ruled out by business department
‘Exit tax’ on UK entrepreneurs ruled out by business department Financial Times
Source ↗Louise Haigh: Rewiring the State
I am grateful to the hon. Lady, and I can confirm that my motto of moving fast and fixing things is still firmly in place. She is absolutely right that in order to deliver devolution effectively and deliver the growth and improved public services that we need, resource and revenue are needed. We have committed to allowing strategic authorities to take a share of income tax and business rates, so that they are incentivised to grow their economies, and can take their fair share to reinvest in those economies. On digi…
Source ↗Reducing taxation on rural businesses
Category: Oral questions. Type: Main Chamber. House: Lords.
Source ↗The Guardian: John Healey invites October budget ideas from Treasury staff of all levels
John Healey invites October budget ideas from Treasury staff of all levels The Guardian
Source ↗Baroness Meyer: United Kingdom: Business Competitiveness
To ask His Majesty’s Government what assessment they have made of the cumulative impact of tax measures introduced since July 2024 on the competitiveness of the United Kingdom as a place to do business.
Source ↗Mark Garnier: UK Financial Services
Yes, I can, from having been on the Treasury Committee from 2010 to 2016, when we looked at creating the Financial Conduct Authority and the Prudential Regulatory Authority, and, more relevantly, on the parliamentary commission on banking standards. Our report recommended that we introduce the measures in the Davies review, which was bringing ringfencing in. The hon. Member may remember that, at the time, the Liikanen review in the European Union looked at ringfences. The subtle difference between our ringfencing a…
Source ↗The Parliamentary Secretary, HM Treasury (Lord Pitt-Watson) (Lab): United Kingdom: Business Competitiveness
My Lords, it is an honour to be answering this Question from the Dispatch Box. British business is competitive. It creates jobs, it produces the goods and services on which we depend, and it pays tax that funds public services. Those services in turn support business, and paying for them fully generates fiscal stability. Those services and that discipline in turn underpin business competitiveness. It seems to me that, through the system, we should be thanking businesses for the huge burden they bear and for the amo…
Source ↗Baroness Meyer (Con): United Kingdom: Business Competitiveness
My Lords, I welcome the Minister to his new position. I thank him for his Answer, but I am a little surprised by his optimism. Since the changes to capital gains tax and higher employment costs, 6,000 business owners and company directors have left the country, some 13,000 stores and 700 pubs have closed, and 7,000 hotels, restaurants and cafés have entered insolvency. The warnings are coming from everywhere: the Institute of Directors, the CBI, the IEA, the British Retail Consortium, the hospitality sector and maj…
Source ↗Birmingham Live: Andy Burnham business tax cut update ahead of Autumn Budget in October
Andy Burnham business tax cut update ahead of Autumn Budget in October Birmingham Live
Source ↗The Times: Andy Burnham U-turns on local income tax ‘rebates’
Andy Burnham U-turns on local income tax ‘rebates’ The Times
Source ↗Law360: New Jersey Cuts Business Tax Credits For Data Centers
New Jersey Cuts Business Tax Credits For Data Centers Law360
Source ↗BUSINESS IMPACT
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