HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
Oral Answers to Questions is a regularly scheduled appearance where the Secretary of State and junior minister will answer at the Dispatch Box questions from backbench MPs
Other Commons Chamber appearances can be:Westminster Hall debates are performed in response to backbench MPs or e-petitions asking for a Minister to address a detailed issue
Written Statements are made when a current event is not sufficiently significant to require an Oral Statement, but the House is required to be informed.
HM Treasury does not have Bills currently before Parliament
A Bill to make provision in connection with finance.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and 31 March 2027; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2025 and 31 March 2026.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2025.
This Bill received Royal Assent on 21st July 2025 and was enacted into law.
A Bill to make provision about secondary Class 1 contributions.
This Bill received Royal Assent on 3rd April 2025 and was enacted into law.
A Bill to make provision about finance.
This Bill received Royal Assent on 20th March 2025 and was enacted into law.
A Bill to amend the Crown Estate Act 1961.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.
This Bill received Royal Assent on 16th January 2025 and was enacted into law.
A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.
This Bill received Royal Assent on 10th September 2024 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.
This Bill received Royal Assent on 30th July 2024 and was enacted into law.
e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.
If an e-petition reaches 10,000 signatures the Government will issue a written response.
If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
Commons Select Committees are a formally established cross-party group of backbench MPs tasked with holding a Government department to account.
At any time there will be number of ongoing investigations into the work of the Department, or issues which fall within the oversight of the Department. Witnesses can be summoned from within the Government and outside to assist in these inquiries.
Select Committee findings are reported to the Commons, printed, and published on the Parliament website. The government then usually has 60 days to reply to the committee's recommendations.
As the grid continues to decarbonise, the Carbon Price Support (CPS) tax base will become smaller and CPS revenue is forecast to significantly decline.
Final costings will be confirmed at a fiscal event in the usual way. The Chancellor will set out details on how this, and any other decisions, are funded such that the fiscal rules are met at the Budget in the usual way.
Hydrotreated vegetable oil (HVO) is taxed in line with other fuels according to its use.
For fuel duty purposes, HVO is treated as a diesel-equivalent “heavy oil” in the Hydrocarbon Oils Duty Act 1979. When used as a road fuel, it is therefore liable to the standard rate of fuel duty applicable to diesel which is 52.95p per litre. When used for domestic heating, HVO benefits from the rebated duty rate of 10.18p per litre.
For VAT, HVO is subject to the standard rate when used as a road fuel. When supplied for domestic heating, it is eligible for the reduced rate of VAT, subject to the same conditions that apply to other heating fuels, including applicable quantity thresholds.
The Government currently encourages the use of HVO through the Renewable Transport Fuel Obligation (RTFO), which incentivises the use of low carbon fuels and reduces emissions from fuel supplied for use in transport and non-road mobile machinery. The RTFO has been very successful in supporting a market for renewable fuel since its introduction in 2008. Renewable fuels supplied under the RTFO currently contribute a third of the savings required for the UK’s transport carbon budget.
Vehicles used or kept on public roads pay Vehicle Excise Duty (VED). Cars registered on or after 1 April 2017 pay a variable first year VED rate according to the emissions of the vehicle, before moving to a standard annual rate after the first year.
For certain vehicle classifications, such as heavy goods vehicles (HGVs), VED liability is calculated in accordance with the vehicle's weight in order to reflect in part the road damage caused by heavier vehicles. However, this is not the case for cars, due in part to their relatively lower impact on road damage compared to heavier vehicles.
When making changes to the tax system, the Government considers a range of trade-offs, such as complexity in the tax system and administrative burdens.
The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.
Carbon Price Support (CPS) tax receipts can be found in the Environmental Taxes Bulletin: https://www.gov.uk/government/statistics/environmental-taxes-bulletin.
The High Income Child Benefit Charge is currently the best way to manage Child Benefit expenditure. By withdrawing Child Benefit from high-income families, it helps to ensure the sustainability of the public finances and protect our vital public services. As with all tax policy, the government will keep this under review.
The changes to the inheritance tax treatment of pensions are consistent with the process which already exists for administering estates and paying any tax due. Personal representatives are already responsible for administering the rest of the estate, including non-discretionary pension schemes which are already in scope of inheritance tax.
The Government recognises the general difficulties that some personal representatives may face in paying the inheritance tax due and already offers several payment options to help.
The Government announced in June 2025 that the Winter Fuel Payment eligibility will benefit a wider range of pensioners in England and Wales from winter 2025. Winter Fuel Payments are paid automatically to anyone who has not opted out of getting a payment, to ensure timely support for those who need it.
Individuals who are of State Pension age and have total income over £35,000 will have their Winter Fuel Payment recovered by HMRC through the tax system. Winter Fuel Payments are devolved in Scotland and Northern Ireland, however, the Scottish Government and Northern Ireland Executive have decided to mirror the recovery approach taken for England and Wales.
The winter payment is automatically recovered by HMRC through PAYE for the vast majority of cases, or through their Self-Assessment return for the minority that pay tax that way. The amount recovered is equal to the full value of their payment. This approach applies across the UK, including in Northern Ireland.
Anyone who expects their total income to exceed £35,000 can opt out of receiving future payments via GOV.UK, or through Social Security Scotland if they live in Scotland, and will not be subject to the charge. Opting out applies only to payments not yet made.
The answers to PQs UIN126382, UIN 126383 & UIN 126384 have been answered on 16 April 2026. This was within the Parliamentary deadline.
The answers to PQs UIN126382, UIN 126383 & UIN 126384 have been answered on 16 April 2026. This was within the Parliamentary deadline.
The answers to PQs UIN126382, UIN 126383 & UIN 126384 have been answered on 16 April 2026. This was within the Parliamentary deadline.
As announced at Budget 2025, plug-in hybrid vehicles (PHEVs) will be subject to a reduced electric Vehicle Excise Duty rate of 1.5 pence per mile upon its introduction in April 2028 – half the rate that will apply to fully electric cars. This approach recognises that PHEVs have the capacity to drive in either electric or petrol mode and strikes the right balance between fairness, protecting motorists’ privacy and minimising administrative burdens on motorists.
The government recognises that the large majority of EVs and PHEVs have in-built vehicle telematics, which monitor various driving activities and are viewable by drivers, vehicle manufacturers, or permitted third parties in some cases.
The government will not mandate use of these telematics for administering eVED; however, it welcomed views in the consultation on how various types of technologies could be used on an opt-in basis in future to simplify the system and reduce administrative burdens on motorists and businesses.
The consultation closed on 18 March 2026. The Government will publish a response in due course.
Forecasting the economy, including the impact of Government policy decisions on inflation, is the responsibility of the independent Office for Budget Responsibility (OBR).
The OBR set out its latest assessment of policy measures in its Spring Forecast 2026, published on 3 March 2026. The OBR did not publish a specific estimate of the impact of the Soft Drinks Industry Levy on inflation in that forecast, or in previous Economic and Fiscal Outlook publications since the levy was announced in 2016, which would include the impact for the 2018-19 financial year.
The government will implement electric Vehicle Excise Duty (eVED) as an additional mileage based add-on to Vehicle Excise Duty (VED) for electric and plug-in hybrid cars, which is designed to replace the fuel duty revenues which will be lost as petrol and diesel vehicles are phased out over time.
Other vehicle types, such as vans, buses, HGVs and motorcycles will not be in scope of eVED upon its introduction in April 2028. At this stage, the transition to electric for these other vehicle types is less advanced than for cars.
Under VED, different rates apply to cars, vans, and motorcycles, and the rate for each vehicle is calculated according to a range of factors, such as its date of first registration, weight, or CO2 emissions. There are no plans to extend VED exemptions to motorcycles based on their road surface impact.
Vehicle Excise Duty (VED) is a tax on vehicles used or kept on public roads. As announced by the previous Government at Autumn Statement 2022, from April 2025, zero emission and hybrid cars, vans and motorcycles now pay VED in a similar way to petrol and diesel vehicles. Revenue from motoring taxes helps ensure we can continue to fund the vital public services and infrastructure that people and families across the UK expect.
The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.
AI is not used by the department to draft legislation.
Officials use AI tools in combination with a range of evidence, collaboration, challenge and technology to deliver policy drafts. They use their judgement and a variety of data sources to apply a critical lens to their advice and analysis to ensure high quality.
Officials use HMT-GPT, the department’s internal AI tool, and Copilot, which are both secure and quality assured for civil service use. Guidance and training for responsible AI usage is provided to staff, making it clear that tools are designed to assist with work, not to replace colleagues in decision making processes.
The Office for Budget Responsibility (OBR) has full discretion over the timing of its publication programme.
The November 2025 Economic and Fiscal Outlook stated that the OBR will be publishing its first set of areas of research interest in the coming months.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
The Government has ensured a wide range of MTD-compatible software is available to support businesses of all budgets and sizes, and will continue to work closely with the software industry to ensure that Making Tax Digital (MTD) software meets the needs of taxpayers.
Software providers must meet a clear set of criteria and Terms of Use for their products to be recognised as MTD-compatible. These include requirements on security, data protection and accessibility, as well as the ability to support core user journeys and portability of data.
A taxpayer is not locked into a single MTD-compatible software product and can change provider at any time. As their business needs evolve over time, taxpayers may find alternative software becomes the most appropriate option for their circumstances.
HMRC has published guidance to support taxpayers in finding the right software here:
www.gov.uk/guidance/find-software-that-works-with-making-tax-digital-for-income-tax
From 6 April 2026, recruitment agencies are responsible for ensuring that Pay As You Earn and National Insurance contributions obligations are met when they choose to use an umbrella company to engage a worker. Where these obligations are not met, HMRC will recover underpayments from the recruitment agency. If there is no recruitment agency involved in an arrangement with an umbrella company, this responsibility will fall to the end client business.
These rules apply to all umbrella companies, regardless of corporate structure. They do not change the amount that umbrella companies, including not-for-profit umbrella companies, have to account for under Pay As You Earn when they pay their employees. The government keeps tax policies under review. However, there are no plans to change the treatment of not-for-profit umbrella companies within these rules.
From 6 April 2026, recruitment agencies are responsible for ensuring that Pay As You Earn and National Insurance contributions obligations are met when they choose to use an umbrella company to engage a worker. Where these obligations are not met, HMRC will recover underpayments from the recruitment agency. If there is no recruitment agency involved in an arrangement with an umbrella company, this responsibility will fall to the end client business.
These rules apply to all umbrella companies, regardless of corporate structure. They do not change the amount that umbrella companies, including not-for-profit umbrella companies, have to account for under Pay As You Earn when they pay their employees. The government keeps tax policies under review. However, there are no plans to change the treatment of not-for-profit umbrella companies within these rules.
At Autumn Budget 2024, the Government made a number of commitments on R&D tax reliefs as part of the Corporate Tax Roadmap to provide the stability and certainty that help support investment decisions. The Government committed to maintaining the generosity of the rates in both the merged R&D Expenditure Credit (RDEC) scheme and the Enhanced R&D Intensive Support (ERIS). This, combined with the commitment to cap the headline rate of Corporation Tax, means that companies doing qualifying R&D will continue to receive between £15 to £27 for every £100 spent on R&D.
The RDEC rate of 20 per cent represents the joint highest uncapped headline rate of R&D tax relief in the G7 for large companies, and the ERIS scheme will provide around £1.3 billion per year to eligible R&D-intensive, loss-making SMEs. Overall, R&D reliefs will support an estimated £56 billion of business R&D expenditure in 2029/30, roughly a 20 per cent increase from £47 billion in 2022/23.
Companies are not currently able to claim R&D reliefs on capital expenditure, but the Government keeps the whole tax system under review.
Approved Mileage Allowance Payments (AMAPs) are used by employers to reimburse an employee's expenses for business mileage in their private vehicle. These rates are also used by self-employed drivers to claim tax relief on business mileage (simplified motoring expenses) and can be used by organisations to reimburse volunteers who use their own vehicle for voluntary purposes.
Voluntary organisations reimbursing volunteers can either use the AMAP rates, or they can reimburse the actual cost incurred where the volunteer drivers can evidence such costs, without a tax liability arising. Any reimbursement above the AMAP rates would be subject to Income Tax unless the driver can show evidence of the expenditure. It is ultimately up to the voluntary organisation to determine the amount they reimburse to volunteers.
Individuals can claim up to 45p/mile for the first 10,000 miles annually, followed by 25p/mile thereafter. An additional 5p/mile can be claimed for each passenger transported.
The government recognises that while AMAP rates have not changed since 2011, the motoring landscape has evolved significantly and it is an important issue for many people who claim motoring expenses. As the Chancellor announced last month, the government will review this issue and will consider this matter further as part of a future fiscal event.
The information you have requested can be found here: 2024-25 HMRC Annual Reports and Accounts and here: 2024-25 Tax Assurance Commissioners Report
The Government has announced powers for Mayors to introduce a visitor levy on short-term overnight accommodation in their region, to drive economic growth, including through support for the local visitor economy.
At Budget, the Government published a consultation so that the public, businesses, and local government could shape the design of these powers, including options to minimise the burden on businesses and communities. This consultation closed on the 18th of February and the Government will publish a response in due course.
The precise design and scope of the power for Mayors to introduce a visitor levy is still under development, and the impacts of the levy will largely be determined by local decisions. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear any concerns. Following consultation, we expect Mayors to publish a summary of the consultation results and their response, including a final prospectus, and an impact assessment.
The Government has announced powers for Mayors to introduce a visitor levy on short-term overnight accommodation in their region, to drive economic growth, including through support for the local visitor economy.
At Budget, the Government published a consultation so that the public, businesses, and local government could shape the design of these powers, including options to minimise the burden on businesses and communities. This consultation closed on the 18th of February and the Government will publish a response in due course.
The precise design and scope of the power for Mayors to introduce a visitor levy is still under development, and the impacts of the levy will largely be determined by local decisions. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear any concerns. Following consultation, we expect Mayors to publish a summary of the consultation results and their response, including a final prospectus, and an impact assessment.
The Government recognises the importance of reusing existing housing stock to deliver new homes. To support this, residential renovations are subject to a reduced rate of VAT of five per cent if they meet certain conditions. These include the renovation of properties that have been empty for two or more years.
HMRC publishes estimates of the costs of tax reliefs where possible in its annual tax reliefs publication. The latest tax relief statistics publication and further information about how HMRC estimate the cost of tax reliefs can be found here: https://www.gov.uk/government/statistics/tax-reliefs/tax-relief-statistics-january-2026.
The UK Government has set an ambition to welcome 50 million international visitors annually by 2030, reinforcing tourism as a central pillar of the UK’s global competitiveness. Delivery of this ambition will be underpinned by a forthcoming Visitor Economy Growth Strategy, developed in partnership with industry to drive sustainable, long term growth across both domestic and inbound tourism. International marketing activity led by VisitBritain is also driving demand across markets and converting global interest into visits, with campaigns already generating significant additional visitor spend.
The Government has also announced powers for Mayors to introduce a visitor levy on short-term overnight accommodation in their region, to drive economic growth, including through support for the local visitor economy. These powers give Mayors control of new local revenue raising powers to drive growth in their regions, making them better places for their residents and businesses, as well as for people to visit and enjoy.
The precise design and scope of the power for Mayors to introduce a visitor levy is still under development, and the impacts of the levy will largely be determined by local decisions. At Budget, the Government published a consultation so that the public, businesses, and local government could shape the design a visitor levy. This consultation closed on the 18th of February and the Government will publish a response in due course.
The Government recognises the impact of fuel costs on household budgets and is already taking action to help keep fuel prices down. Since Autumn Budget 2024, the Government’s decisions to freeze fuel duty will save the average motorist around 8 to 11 pence per litre, compared to the plans inherited from the previous government.
The Government has published Tax Impact and Information Notes (TIINs) assessing the impacts of the 2026/27 fuel duty rates, which can be found at GOV.UK:
As with all taxes, the Government keeps fuel duty under review.
HMRC is establishing the Fraud Prevention Centre (FPC), a multifunctional capability led by HMRC’s Security directorate, to improve coordination between customer service, fraud investigation and security teams when taxpayer accounts are compromised. Through the FPC, HMRC is improving customer reporting routes, strengthening incident management processes across teams, and deploying targeted technical enhancements to support more joined-up handling of cases and enhanced support for affected customers.
HM Treasury has spent the following on management apprenticeships:
2023-24 – £195,103
2024-25 - £749,375
2025-26 - £615,591
HMRC has spent the following on management apprenticeships:
2023-24 – £113,343
2024-25 - £95,811
2025-26 - £118,859
HM Treasury is reviewing its approach to apprenticeships and is looking to offer staff more opportunities in areas such as AI and digital.
The Growth Mission Board was replaced by the Growth and Living Standards Committee in November 2025. It is co-chaired by the Chancellor and the Prime Minister.
It is a long-established precedent that information about the discussions that have taken place in Cabinet and its committees - including mission boards - including their attendance, and how often they have met, is not normally shared publicly.
The UK has a robust anti-money laundering, counter-terrorist financing and sanctions regime to counter hostile state activity.
Cryptoassets are in scope of the UK’s Money Laundering and Terrorist Financing Regulations, which require regulated firms to apply enhanced due diligence to business relationships and transactions involving high risk third countries, including Iran. This includes verifying customers’ identities and undertaking checks on source of funds and wealth.
The UK has imposed financial sanctions on Iran in response to their de-stabilising and hostile behaviour. These sanctions apply to cryptoassets as well as traditional finance. HM Treasury’s Office of Financial Sanctions Implementation (OFSI) delivered a cryptoasset Threat Assessment in July 2025 to support industry their implementation and compliance efforts.
HM Treasury does not directly deliver financial literacy programmes. The Government supports financial capability through a range of activity, including the work of the Money and Pensions Service (MaPS), an arm’s length body which provides, free impartial money guidance for every stage of people’s financial lives.
MaPS runs the Money Guiders programme, which equips frontline staff – including those working in charities and community organisations – with the skills and confidence to have effect conversations about money with the people they support. As part of the Financial Inclusion Strategy, published on 5 November 2025, the Government announced that MaPS will expand and enhance Money Guiders to help deliver quality financial guidance across the UK. To date, Money Guiders has engaged over 18,000 practitioners and partnered with nearly 300 organisations. More detail on the Government’s broader approach to financial education and capability is set out in the Strategy.
Wider policy on civil society and youth, including charities and the voluntary, community and social enterprise (VSCE) sector sits with the Department for Culture, Media and Sport (DMCS).
If a residential property currently attracts the Annual Tax on Enveloped Dwellings and is above the threshold for the High Value Council Tax Surcharge, it will pay both.
There are no plans to publish the Valuation Office’s Property Details Guide at this time.
From 1 April 2026, the Valuation Office Agency no longer exists as an executive agency, and now operates as a group within HMRC.
The Valuation Office name has been retained, and it has been integrated into HMRC’s branding for customer communications.
The Barnett formula was applied in the normal way to changes in the English apprenticeships budget at Main Estimates 2025/26 and at Budget 2025, and the resulting consequentials were added to the Northern Ireland Executive’s existing block grant.
HMRC does not place tax debts that are either in an active dispute or part of an unresolved investigation with debt collection agencies (DCAs). If a taxpayer communicates to a DCA that their debt is part of an active dispute, which could include being part of an open investigation, the guidance states that the case should be returned to HMRC
Since May 2025, HMRC has seen a significant increase in VAT fraud attempts relating to criminals compromising legitimate customer accounts. HMRC security teams actively investigate these incidents and work with experts across the department to continually strengthen the security of online services.
HMRC’s approach is to identify and prevent fraud upstream by strengthening perimeter controls to prevent fraudulent access to systems, applying effective risk‑based controls at the point of registration and repayment, and targeting the organised criminal groups behind these attacks. HMRC’s Cybercrime team works proactively to understand these threats and identify those responsible.
Where HMRC identifies that a taxpayer’s VAT account has been compromised by a third party, the department takes action to lock the digital account to prevent further unauthorised access and to mitigate any adverse impact on the customer.
HMRC contacts the customer to explain what has occurred, the action taken to correct their account, and any steps the customer needs to take. Until recently, customers were asked to appeal any penalties or interest incurred. However, the process has been adjusted so that any incorrect penalties are now inhibited and removed.
Once the customer regains access to their account, HMRC provides appropriate support and allows additional time for the customer to submit updates and returns without accruing penalties.
Information relating to suspected or confirmed account compromise is recorded across different systems and teams, reflecting variation in how fraud presents across HMRC services and channels. As a result, HMRC is unable to provide a comprehensive breakdown of the number of accounts reported as compromised or subject to unauthorised access for each of the last three financial years in the format requested.
HMRC continues to strengthen its capability to identify, respond to and manage compromised accounts, including improving incident management processes and developing more joined‑up approaches to monitoring and response across services.
The Government recognises the important contribution that businesses in the hospitality sector make to local communities, the high street and the wider economy across the UK. The potential impacts of changes on this sector are carefully considered as part of policy development.
Where changes are made, relevant impact notes and assessments are published at fiscal events and otherwise as necessary, in line with the Government’s usual practice. The Treasury and other government departments also engage regularly with the hospitality sector to understand the challenges they face.
The Government continues to provide targeted support to the hospitality sector through the tax system and other policies and keeps all areas of the tax system under review.
Business rates are a devolved tax. Details on business rates receipts in England can be found on page 112 of the Office for Budget Responsibility’s March 2026 Economic and Fiscal Outlook.
The Barnett formula applied in the normal way, as set out in the Statement of Funding Policy, to changes in business rates revenue.
A breakdown of Barnett consequentials for the Devolved Governments as a result of decisions at Spring Forecast will be reflected in the next iteration of the Block Grant Transparency publication.
Business rates are a devolved tax. Details on business rates receipts in England can be found on page 112 of the Office for Budget Responsibility’s March 2026 Economic and Fiscal Outlook.
The Barnett formula applied in the normal way, as set out in the Statement of Funding Policy, to changes in business rates revenue.
A breakdown of Barnett consequentials for the Devolved Governments as a result of decisions at Spring Forecast will be reflected in the next iteration of the Block Grant Transparency publication.
The Government recognises that rising household costs, driven by elevated inflation, continue to place pressure on many families, including those in rural areas.
CPI inflation is measured by the Office for National Statistics. While it is not broken down by geographic region or by income level, the ONS does produce a wider range of measures that consider the cost pressures faced by different groups. This in part recognises that low-income households can be more exposed to price rises in essential goods and services, and may be disproportionately affected when these rise faster than average inflation.
Tackling the cost of living is a top priority for the Government. At the Budget, the Government also took action to bear down on prices and support households, including by reducing household energy bills from April 2026, expanding the Warm Home Discount, freezing regulated rail fares and NHS prescription fees, and extending the 5p fuel duty cut. Alongside this, the Government is going even further to support those who need it most by removing the two-child limit, increasing the national living wage, and committing to the pensions Triple Lock for the duration of this Parliament.
Since the beginning of the Iran conflict, the government has acted quickly to provide £53m in timely, targeted support to low-income households struggling with the rising price of heating oil and at risk of losing access to heating and hot water.