HM Treasury
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.
Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)
Conservative
Mel Stride (Con - Central Devon)Shadow Chancellor of the Exchequer
Liberal Democrat
Charlie Maynard (LD - Witney)Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Green Party
Ellie Chowns (Green - North Herefordshire)Green Spokesperson (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Richard Fuller (Con - North Bedfordshire)Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)Financial Secretary (HM Treasury)
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Chief Secretary to the Treasury
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Rachel Blake (LAB - Cities of London and Westminster)
Economic Secretary (HM Treasury)
14:15
Oral Evidence
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of the Approved …
The National Savings Bank Act 1971(3) (“the 1971 Act”) and the National Debt Act 1972(4) created the current statutory framework …
A Bill to make provision about the regulation of financial services and markets; and for connected purposes.
HM Treasury Commons Appearances
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:- Urgent Questions where the Speaker has selected a question to which a Minister must reply that day
- Adjornment Debates a 30 minute debate attended by a Minister that concludes the day in Parliament.
- Oral Statements informing the Commons of a significant development, where backbench MP's can then question the Minister making the statement.
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.
Bills currently before Parliament
HM Treasury does not have Bills currently before Parliament
Acts of Parliament created in the 2024 Parliament
A Bill to Make provision to amend section 4 of the Social Security Contributions and Benefits Act 1992, and section 4 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992, so that amounts of salary sacrificed for employer pensions contributions pursuant to optional remuneration arrangements are liable to national insurance contributions.
This Bill received Royal Assent on 29th April 2026 and was enacted into law.
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.
HM Treasury - Secondary Legislation
Petitions
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).
(16,159 in the last 7 days)
(4,403 in the last 7 days)
(1,601 in the last 7 days)
(398 in the last 7 days)
(389 in the last 7 days)
(389 in the last 7 days)
(16,159 in the last 7 days)
(5 in the last 7 days)
(1,601 in the last 7 days)
(5 in the last 7 days)
Petition Closed
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025closed 11 months, 3 weeks ago
Raise 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.
Petition Closed
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025closed 1 year, 1 month ago
We 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.
Petition Closed
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025closed 1 year ago
Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
Departmental Select Committee
Treasury Committee
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.
11 Members of the Treasury Committee
Treasury Committee Member since 9th September 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 9th December 2024
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
The OBR: 15 years on
16 Jun 2026, 9:30 a.m.
View calendar - Save to Calendar
Treasury Committee: 14 Current Inquiries
Treasury Committee: Previous Inquiries
50 most recent Written Questions
(View all written questions)In line with the existing methodology, the Government announced on 19 May 2026 that the SCAPE discount rate is 2%+CPI.
HM Treasury is not the responsible authority for individual Public Service Pension Schemes. Regulation B7 of the Police Pension Scheme Regulations 1987 provides for commutation of pension to purchase lump sum and specifies that the rate is that set out by the Scheme Actuary. The factors were updated on 21 May 2026 to reflect the change to the SCAPE discount rate.
Chief Secretary to the Treasury
The Government remains committed to reviewing the SCAPE discount rate at every valuation cycle. The SCAPE discount rate was announced in Parliament on 19 May 2026. This is in line with established precedent for reviews of the SCAPE discount rate. Where the SCAPE discount rate changes, the factors used in the schemes (for example to calculate the commuted lump sum provided in exchange for a member giving up part of their pension) are reviewed in line with best practice and the law.
Chief Secretary to the Treasury
On 20 May, the Chancellor announced a package of infrastructure planning reforms to accelerate delivery of the most important clean energy projects, strengthen the UK’s energy security and support economic growth.
By reducing delays and making the judicial review process faster, more predictable and more focused on genuine legal concerns, these reforms are expected to give investors greater confidence and support continued investment in infrastructure projects.
More broadly, this Government believes that it matters where things are made and who makes them and is reforming public procurement so that more of what the public sector buys supports UK-based businesses, including in critical industries.
HM Treasury is working closely with relevant departments on the detailed policy and legislative framework for these infrastructure planning reforms. Further detail will be set out in due course.
Chief Secretary to the Treasury
On 20 May, the Chancellor announced a package of infrastructure planning reforms to accelerate delivery of the most important clean energy projects, strengthen the UK’s energy security and support economic growth.
These proposals include a new route for Parliament to approve projects designated as Critical National Importance, providing greater certainty where the national interest is clearest. The route would apply only to energy projects identified by the Energy Secretary as Critical National Importance, and any such designation would require explicit parliamentary approval.
HM Treasury is working closely with relevant departments on the detailed policy and legislative framework for these reforms. Further detail will be set out in due course.
Chief Secretary to the Treasury
On 20 May, the Chancellor announced a package of infrastructure planning reforms to accelerate delivery of the most important clean energy projects, strengthen the UK’s energy security and support economic growth.
Under these reforms, projects designated as being of Critical National Importance would still be required to proceed through the normal Development Consent Order process, and existing arrangements for considering impacts and hearing from affected communities would remain in place. This route would apply only to energy projects that the Energy Secretary designates as of Critical National Importance, and any such designation would also require explicit parliamentary approval
HM Treasury is working closely with relevant departments on the detailed policy and legislative framework for these reforms. Further detail will be set out in due course.
Chief Secretary to the Treasury
The UK announced that it is exploring setting up the Multilateral Defence Mechanism with Finland, the Netherlands and other partners by 2027. This will be designed to improve value for money and increase standardisation in the defence sector through joint procurement. It will enhance collaboration among allies and improve interoperability. It will aim to increase the availability of munitions and other critical capabilities when we need them most and aim to support a more resilient and efficient defence industrial sector, underpinned by more certainty of orders from aggregated demand through joint procurement from its members.
The Chancellor regularly discusses with NATO allies the need to meet the challenge jointly of increasing expenditure on our defence and resilience.
Chief Secretary to the Treasury
Approved Mileage Allowance Payments (AMAPs) are used by employers to reimburse an employee's expenses for business mileage in their private vehicle. The AMAP rate is advisory, so employers can choose to pay more or less than the advisory rate. Employees reimbursed less than the AMAP rate may be able to claim tax relief on the difference, depending on their circumstances. Amounts reimbursed over the AMAP rate are classed as earnings and subject to Income Tax.
In recognition of the pressures facing drivers, the Government announced in May the first uprating of these rates since 2011, backdated to April 2026. For 2026/27, mileage rates for cars and vans will increase from 45p to 55p per mile for the first 10,000 miles annually, followed by 25p per mile thereafter. These rates are UK-wide so apply to Northern Ireland.
The 25p per mile rate for mileage above 10,000 miles remains unchanged, reflecting that the average motorist drives fewer than 10,000 miles for work and the need to balance targeted support with overall fiscal responsibility. Employees can also claim an additional 5p per mile for each fellow employee transported. Mileage rates for other vehicles, including motorcycles, remain unchanged.
Looking ahead and beyond 2026/27, the Government has already committed to a review of these rates and will set this out at the Budget. More broadly, 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.
Exchequer Secretary (HM Treasury)
Approved Mileage Allowance Payments (AMAPs) are used by employers to reimburse an employee's expenses for business mileage in their private vehicle. The AMAP rate is advisory, so employers can choose to pay more or less than the advisory rate. Employees reimbursed less than the AMAP rate may be able to claim tax relief on the difference, depending on their circumstances. Amounts reimbursed over the AMAP rate are classed as earnings and subject to Income Tax.
In recognition of the pressures facing drivers, the Government announced in May the first uprating of these rates since 2011, backdated to April 2026. For 2026/27, mileage rates for cars and vans will increase from 45p to 55p per mile for the first 10,000 miles annually, followed by 25p per mile thereafter. These rates are UK-wide so apply to Northern Ireland.
The 25p per mile rate for mileage above 10,000 miles remains unchanged, reflecting that the average motorist drives fewer than 10,000 miles for work and the need to balance targeted support with overall fiscal responsibility. Employees can also claim an additional 5p per mile for each fellow employee transported. Mileage rates for other vehicles, including motorcycles, remain unchanged.
Looking ahead and beyond 2026/27, the Government has already committed to a review of these rates and will set this out at the Budget. More broadly, 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.
Exchequer Secretary (HM Treasury)
Approved Mileage Allowance Payments (AMAPs) are used by employers to reimburse an employee's expenses for business mileage in their private vehicle. The AMAP rate is advisory, so employers can choose to pay more or less than the advisory rate. Employees reimbursed less than the AMAP rate may be able to claim tax relief on the difference, depending on their circumstances. Amounts reimbursed over the AMAP rate are classed as earnings and subject to Income Tax.
In recognition of the pressures facing drivers, the Government announced in May the first uprating of these rates since 2011, backdated to April 2026. For 2026/27, mileage rates for cars and vans will increase from 45p to 55p per mile for the first 10,000 miles annually, followed by 25p per mile thereafter. These rates are UK-wide so apply to Northern Ireland.
The 25p per mile rate for mileage above 10,000 miles remains unchanged, reflecting that the average motorist drives fewer than 10,000 miles for work and the need to balance targeted support with overall fiscal responsibility. Employees can also claim an additional 5p per mile for each fellow employee transported. Mileage rates for other vehicles, including motorcycles, remain unchanged.
Looking ahead and beyond 2026/27, the Government has already committed to a review of these rates and will set this out at the Budget. More broadly, 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.
Exchequer Secretary (HM Treasury)
Approved Mileage Allowance Payments (AMAPs) are used by employers to reimburse an employee's expenses for business mileage in their private vehicle. The AMAP rate is advisory, so employers can choose to pay more or less than the advisory rate. Employees reimbursed less than the AMAP rate may be able to claim tax relief on the difference, depending on their circumstances. Amounts reimbursed over the AMAP rate are classed as earnings and subject to Income Tax.
In recognition of the pressures facing drivers, the Government announced in May the first uprating of these rates since 2011, backdated to April 2026. For 2026/27, mileage rates for cars and vans will increase from 45p to 55p per mile for the first 10,000 miles annually, followed by 25p per mile thereafter. These rates are UK-wide so apply to Northern Ireland.
The 25p per mile rate for mileage above 10,000 miles remains unchanged, reflecting that the average motorist drives fewer than 10,000 miles for work and the need to balance targeted support with overall fiscal responsibility. Employees can also claim an additional 5p per mile for each fellow employee transported. Mileage rates for other vehicles, including motorcycles, remain unchanged.
Looking ahead and beyond 2026/27, the Government has already committed to a review of these rates and will set this out at the Budget. More broadly, 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.
Exchequer Secretary (HM Treasury)
The government will introduce a 12-month holiday from Vehicle Excise Duty (VED, also known as road tax). This will apply to the majority of HGVs renewing their VED between 1 July 2026 and 30 June 2027. Eligible vehicles will pay just £1 for their annual VED, saving £600 for a typical heavy lorry. Tax classes eligible include: standard HGV (tax class 1); trailer HGV (tax class 2); special types (tax class 57); combined transport (tax class 23); and island goods vehicles (tax class 16). If a vehicle is liable for the HGV levy, it will continue to be charged at the existing rate.
This temporary reduction in VED is in recognition of the key role the road haulage sector plays in transporting goods, including food, across the UK and its disproportionate exposure to fuel costs. Fuel costs make up a substantial proportion of HGV operating costs, and this action will help prevent cost pressures from the Iran conflict spreading across the economy.
Exchequer Secretary (HM Treasury)
At £90,000, the UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD. This means the majority of UK businesses are not in the VAT system at all.
Any consideration of changes to the threshold would have to carefully balance potential impacts on small businesses, the economy as a whole, and tax revenues. Tax breaks reduce the revenue available for public services and must represent value for money for the taxpayer.
Exchequer Secretary (HM Treasury)
From 25 June to 1 September the Government is introducing a temporary reduced rate of VAT on children's menu meals and eligible family attractions.
This is a targeted and temporary scheme to reduce the costs of children’s meals in restaurants, children’s tickets for theatres and cinemas and tickets for everyone for attractions like soft play, adventure centres, and theme parks, helping families enjoy a day out for less. Individual businesses should consult HMRC’s guidance to determine how the rules apply in their circumstances.
The temporary reduced rate is estimated to cost about £300m. All costings will be subject to certification in the next OBR forecast in the usual way.
The Government expects participating businesses to pass savings on to families by lowering the prices people pay on eligible children's meals and tickets, so the VAT cut is reflected directly at the till.
The impact of the measure will be kept under review through communication with affected taxpayer groups.
Exchequer Secretary (HM Treasury)
The Government keeps all taxes under review and will continue to monitor the situation and make the necessary decisions to help protect households and businesses from price increases from the conflict in the Middle East. The Government’s priorities will continue to be helping families with the cost of living, including through protecting the public finances to support the Bank of England with its role in keeping inflation as low as possible
In addition to the recent extension of the fuel duty freeze and the 12-month Vehicle Excise Duty holiday for HGV's, the Government also announced the first uprating of mileage rates for employees using their own vehicle for work and the self-employed who use the simplified expenses rates, back-dated to April, recognising pressures facing these drivers. Mileage rates for cars and vans will increase for2026/27 from 45p to 55p for the first 10,000 miles, and 25p thereafter, with effect from 6 April 2026. Looking ahead and beyond 2026/27, the Government has already committed to a review of these rates and will set this out at the Budget.
Exchequer Secretary (HM Treasury)
HMRC estimates that the cost of changing the 20 per cent Standard Rate of VAT on all accommodation and food and beverage services to the Reduced Rate of 5 per cent would be around £17 billion in 2027-28
The Government recognises the significant contribution made by hospitality businesses to economic growth and social life in the UK.
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer. A reduction on the scale outlined above would have significant implications for the funding of public services.
Exchequer Secretary (HM Treasury)
From 25 June to 1 September the Government is introducing a temporary reduced rate of VAT on children's menu meals and eligible family attractions.
This is a targeted and temporary scheme to reduce the costs of children’s meals in restaurants, children’s tickets for theatres and cinemas and tickets for everyone for attractions like soft play, adventure centres, and theme parks, helping families enjoy a day out for less. Individual businesses should consult HMRC’s guidance to determine how the rules apply in their circumstances.
Sport, including swimming pools, is not in scope of the relief. This is in line with the decision to focus on a narrower set of eligible activities to ensure the scheme is targeted and financially sustainable.
Many sports facilities which families use already enjoy some form of VAT relief, including many leisure centres and local swimming pools that are operated by local authorities and are out of scope of VAT already. Local authorities are able to reclaim their input VAT when providing sports facilities in leisure centres.
Exchequer Secretary (HM Treasury)
The VCS Grant Funding programme complements the Extra Support services HMRC provides and extends the Department’s reach. Grant Funding enables organisations to deliver trusted support to vulnerable and extra support customers with complex or unresolved tax issues. This helps those customers engage with HMRC and understand their obligations. The VCS support contributes to positive outcomes, building confidence, helping resolution and bringing tax affairs up to date. In 2025/26 the Scheme supported 43,000 individual customers.
Exchequer Secretary (HM Treasury)
HMRC has been accepting applications for exemption from Making Tax Digital (MTD) for Income Tax since September 2025.
Around 6,500 applications for exemption have been received to date. Decisions have been reached on around 60% of these cases, with approximately 75% of the determined applications granted exemptions based on the specific circumstances of each taxpayer.
Taxpayers may request a review or appeal decisions using established processes, with a very small number proceeding to appeal.
Eligibility is assessed on a case-by-case basis, including factors such as age, disability, health conditions, religious beliefs or lack of internet access; HMRC does not produce a single estimate of the number of those who may qualify.
In January 2026 HMRC had 15 FTE focused on exemptions. This increased to 42 in June 2026.
HMRC provides guidance and communications directly to taxpayers and works with agents, charities and representative bodies to help raise awareness of exemptions. Taxpayers who cannot use digital services can meet their obligations through alternative channels, mitigating the risk of inappropriate penalties.
The Government keeps the operation of MTD under review, including exemptions. Decisions on publishing further statistics in relation to MTD will be considered alongside wider transparency arrangements.
Exchequer Secretary (HM Treasury)
HMRC has been accepting applications for exemption from Making Tax Digital (MTD) for Income Tax since September 2025.
Around 6,500 applications for exemption have been received to date. Decisions have been reached on around 60% of these cases, with approximately 75% of the determined applications granted exemptions based on the specific circumstances of each taxpayer.
Taxpayers may request a review or appeal decisions using established processes, with a very small number proceeding to appeal.
Eligibility is assessed on a case-by-case basis, including factors such as age, disability, health conditions, religious beliefs or lack of internet access; HMRC does not produce a single estimate of the number of those who may qualify.
In January 2026 HMRC had 15 FTE focused on exemptions. This increased to 42 in June 2026.
HMRC provides guidance and communications directly to taxpayers and works with agents, charities and representative bodies to help raise awareness of exemptions. Taxpayers who cannot use digital services can meet their obligations through alternative channels, mitigating the risk of inappropriate penalties.
The Government keeps the operation of MTD under review, including exemptions. Decisions on publishing further statistics in relation to MTD will be considered alongside wider transparency arrangements.
Exchequer Secretary (HM Treasury)
HMRC has been accepting applications for exemption from Making Tax Digital (MTD) for Income Tax since September 2025.
Around 6,500 applications for exemption have been received to date. Decisions have been reached on around 60% of these cases, with approximately 75% of the determined applications granted exemptions based on the specific circumstances of each taxpayer.
Taxpayers may request a review or appeal decisions using established processes, with a very small number proceeding to appeal.
Eligibility is assessed on a case-by-case basis, including factors such as age, disability, health conditions, religious beliefs or lack of internet access; HMRC does not produce a single estimate of the number of those who may qualify.
In January 2026 HMRC had 15 FTE focused on exemptions. This increased to 42 in June 2026.
HMRC provides guidance and communications directly to taxpayers and works with agents, charities and representative bodies to help raise awareness of exemptions. Taxpayers who cannot use digital services can meet their obligations through alternative channels, mitigating the risk of inappropriate penalties.
The Government keeps the operation of MTD under review, including exemptions. Decisions on publishing further statistics in relation to MTD will be considered alongside wider transparency arrangements.
Exchequer Secretary (HM Treasury)
HMRC has been accepting applications for exemption from Making Tax Digital (MTD) for Income Tax since September 2025.
Around 6,500 applications for exemption have been received to date. Decisions have been reached on around 60% of these cases, with approximately 75% of the determined applications granted exemptions based on the specific circumstances of each taxpayer.
Taxpayers may request a review or appeal decisions using established processes, with a very small number proceeding to appeal.
Eligibility is assessed on a case-by-case basis, including factors such as age, disability, health conditions, religious beliefs or lack of internet access; HMRC does not produce a single estimate of the number of those who may qualify.
In January 2026 HMRC had 15 FTE focused on exemptions. This increased to 42 in June 2026.
HMRC provides guidance and communications directly to taxpayers and works with agents, charities and representative bodies to help raise awareness of exemptions. Taxpayers who cannot use digital services can meet their obligations through alternative channels, mitigating the risk of inappropriate penalties.
The Government keeps the operation of MTD under review, including exemptions. Decisions on publishing further statistics in relation to MTD will be considered alongside wider transparency arrangements.
Exchequer Secretary (HM Treasury)
HMRC has been accepting applications for exemption from Making Tax Digital (MTD) for Income Tax since September 2025.
Around 6,500 applications for exemption have been received to date. Decisions have been reached on around 60% of these cases, with approximately 75% of the determined applications granted exemptions based on the specific circumstances of each taxpayer.
Taxpayers may request a review or appeal decisions using established processes, with a very small number proceeding to appeal.
Eligibility is assessed on a case-by-case basis, including factors such as age, disability, health conditions, religious beliefs or lack of internet access; HMRC does not produce a single estimate of the number of those who may qualify.
In January 2026 HMRC had 15 FTE focused on exemptions. This increased to 42 in June 2026.
HMRC provides guidance and communications directly to taxpayers and works with agents, charities and representative bodies to help raise awareness of exemptions. Taxpayers who cannot use digital services can meet their obligations through alternative channels, mitigating the risk of inappropriate penalties.
The Government keeps the operation of MTD under review, including exemptions. Decisions on publishing further statistics in relation to MTD will be considered alongside wider transparency arrangements.
Exchequer Secretary (HM Treasury)
HMRC has been accepting applications for exemption from Making Tax Digital (MTD) for Income Tax since September 2025.
Around 6,500 applications for exemption have been received to date. Decisions have been reached on around 60% of these cases, with approximately 75% of the determined applications granted exemptions based on the specific circumstances of each taxpayer.
Taxpayers may request a review or appeal decisions using established processes, with a very small number proceeding to appeal.
Eligibility is assessed on a case-by-case basis, including factors such as age, disability, health conditions, religious beliefs or lack of internet access; HMRC does not produce a single estimate of the number of those who may qualify.
In January 2026 HMRC had 15 FTE focused on exemptions. This increased to 42 in June 2026.
HMRC provides guidance and communications directly to taxpayers and works with agents, charities and representative bodies to help raise awareness of exemptions. Taxpayers who cannot use digital services can meet their obligations through alternative channels, mitigating the risk of inappropriate penalties.
The Government keeps the operation of MTD under review, including exemptions. Decisions on publishing further statistics in relation to MTD will be considered alongside wider transparency arrangements.
Exchequer Secretary (HM Treasury)
HMRC has been accepting applications for exemption from Making Tax Digital (MTD) for Income Tax since September 2025.
Around 6,500 applications for exemption have been received to date. Decisions have been reached on around 60% of these cases, with approximately 75% of the determined applications granted exemptions based on the specific circumstances of each taxpayer.
Taxpayers may request a review or appeal decisions using established processes, with a very small number proceeding to appeal.
Eligibility is assessed on a case-by-case basis, including factors such as age, disability, health conditions, religious beliefs or lack of internet access; HMRC does not produce a single estimate of the number of those who may qualify.
In January 2026 HMRC had 15 FTE focused on exemptions. This increased to 42 in June 2026.
HMRC provides guidance and communications directly to taxpayers and works with agents, charities and representative bodies to help raise awareness of exemptions. Taxpayers who cannot use digital services can meet their obligations through alternative channels, mitigating the risk of inappropriate penalties.
The Government keeps the operation of MTD under review, including exemptions. Decisions on publishing further statistics in relation to MTD will be considered alongside wider transparency arrangements.
Exchequer Secretary (HM Treasury)
The Government has assessed the cumulative impacts of measures announced over recent Budgets on businesses and households. Taken together, these measures raise revenue to support the public finances in a fair way, whilst providing targeted support. The Government recognises that recent policy changes will have combined effects on some businesses. Where changes are made, relevant assessments and impact notes are published to inform stakeholders.
Exchequer Secretary (HM Treasury)
The Chancellor appreciates that the weekly shop is one of the biggest worries for families and is taking action on the cost of living, by suspending tariffs on a range of agri-food products.
The Government announced a package of temporary tariff suspensions on 30 April with a detailed list published on 20 May. These suspensions will reduce import costs for these items. The benefit to consumers is estimated to be around £100m to £400m annually.
The Chancellor also announced a consultation on a further list of products on 21 May. Taking account of all the items on the second list of products, published on 27 May, and currently subject to the call for input, would increase the estimated consumer benefit to a total of around £330m to £770m.
Exchequer Secretary (HM Treasury)
The Chancellor appreciates that the weekly shop is one of the biggest worries for families and is taking action on the cost of living, by suspending tariffs on a range of agri-food products.
The Government announced a package of temporary tariff suspensions on 30 April with a detailed list published on 20 May. These suspensions will reduce import costs for these items. The benefit to consumers is estimated to be around £100m to £400m annually.
The Chancellor also announced a consultation on a further list of products on 21 May. Taking account of all the items on the second list of products, published on 27 May, and currently subject to the call for input, would increase the estimated consumer benefit to a total of around £330m to £770m.
Exchequer Secretary (HM Treasury)
The Chancellor appreciates that the weekly shop is one of the biggest worries for families. She is taking action on the cost of living, including by suspending tariffs on a range of agri-food products. The UK grocery market is highly competitive, and we fully expect that retailers will pass on the entirety of cost savings to consumers.
Exchequer Secretary (HM Treasury)
The two packages of agri-food tariff suspensions will reduce import costs for the included items and bear down on consumer costs. The benefit to consumers is estimated to be around a combined £330m to £770m annually for the initial package which has been implemented and the second package which is currently being consulted on.
The list of products for which tariff suspensions are proposed takes account of domestic production and food security and does not include any significant UK primary agriculture production. The list of products is subject to further engagement with the farming industry, food manufacturers and other stakeholders. This call for input is due to close on 24th June.
The UK grocery market is highly competitive, and we expect that retailers will pass on the full cost savings.
Exchequer Secretary (HM Treasury)
The Government will be setting out next steps after the Call for Input closes on 24 June.
Exchequer Secretary (HM Treasury)
The Government is committed to increasing productivity as a central driver of sustainable economic growth and rising living standards.
To support this, at the 2026 Mais Lecture, the Chancellor announced the government is going further with three big choices to drive stronger, more secure growth by empowering regional growth, embracing AI and innovation, and establishing a closer relationship with the EU.
This builds on the significant steps the Government has already taken to increase investment across the whole of the UK, including delivering on our plans to increase public investment by over £120 billion compared to previous plans, alongside reforms to boost private investment.
As part of our plans, the Government is investing £39bn to increase the supply of affordable homes, and over £820m for the Youth Guarantee to strengthen access to employment opportunities in areas such as Romford supported by initiatives such as Trailblazer Youth and Economic Inactivity Hubs.
The Government are also investing in public services, with the Primary Care Utilisation and Modernisation Fund expanding GP capacity by upgrading over 1,000 surgeries nationwide, including 7 schemes across the North East London Integrated Care Board area covering Romford.
Parliamentary Secretary (HM Treasury)
At the Budget, the VO announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties.
In recognition of the impact of the revaluation on bills, the Government has introduced a support package worth £4.3 billion, to protect against ratepayers seeing large overnight increases in bills.
The Government has also introduced new permanently lower multipliers for eligible RHL properties. These new multipliers are worth nearly £1 billion per year and benefit over 750,000 properties. A regional breakdown of properties in scope can be found here: https://www.gov.uk/government/publications/effects-of-the-business-rates-retail-hospitality-and-leisure-multipliers-and-high-value-multiplier/effects-of-the-business-rates-retail-hospitality-and-leisure-multipliers-and-high-value-multiplier.
Amongst all ratepayers, over half see no bill increases in 2026/27, including 23 per cent whose bills go down, due to the government's overall package. This also means most properties seeing increases have them capped at 15 per cent or less in 2026/27, or £800 for the smallest.
Additionally, the government has introduced a 1-year 15 per cent relief for all pubs and live music venues in 2026/27, on top of the existing support package announced at Budget. For the following two years, their bills will then be frozen in real terms. Three-quarters of pubs see bills flat or falling in 2026/27.
We recognise that hotels have expressed concerns about how they are valued for business rates. Hotels valuations are undertaken in a different way to some other sectors. The methodology used is well established, but, as with pubs, the government has announced it will review the way hotels are valued to ensure it accurately reflects the rental value for these sectors.
Exchequer Secretary (HM Treasury)
Alison Griffiths
(Conservative - Bognor Regis and Littlehampton)
At the Budget, the VO announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties.
In recognition of the impact of the revaluation on bills, the Government has introduced a support package worth £4.3 billion, to protect against ratepayers seeing large overnight increases in bills.
The Government has also introduced new permanently lower multipliers for eligible RHL properties. These new multipliers are worth nearly £1 billion per year and benefit over 750,000 properties. A regional breakdown of properties in scope can be found here: https://www.gov.uk/government/publications/effects-of-the-business-rates-retail-hospitality-and-leisure-multipliers-and-high-value-multiplier/effects-of-the-business-rates-retail-hospitality-and-leisure-multipliers-and-high-value-multiplier.
Amongst all ratepayers, over half see no bill increases in 2026/27, including 23 per cent whose bills go down, due to the government's overall package. This also means most properties seeing increases have them capped at 15 per cent or less in 2026/27, or £800 for the smallest.
Additionally, the government has introduced a 1-year 15 per cent relief for all pubs and live music venues in 2026/27, on top of the existing support package announced at Budget. For the following two years, their bills will then be frozen in real terms. Three-quarters of pubs see bills flat or falling in 2026/27.
We recognise that hotels have expressed concerns about how they are valued for business rates. Hotels valuations are undertaken in a different way to some other sectors. The methodology used is well established, but, as with pubs, the government has announced it will review the way hotels are valued to ensure it accurately reflects the rental value for these sectors.
Exchequer Secretary (HM Treasury)
Alison Griffiths
(Conservative - Bognor Regis and Littlehampton)
At the Budget, the VO announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties.
In recognition of the impact of the revaluation on bills, the Government has introduced a support package worth £4.3 billion, to protect against ratepayers seeing large overnight increases in bills.
The Government has also introduced new permanently lower multipliers for eligible RHL properties. These new multipliers are worth nearly £1 billion per year and benefit over 750,000 properties. A regional breakdown of properties in scope can be found here: https://www.gov.uk/government/publications/effects-of-the-business-rates-retail-hospitality-and-leisure-multipliers-and-high-value-multiplier/effects-of-the-business-rates-retail-hospitality-and-leisure-multipliers-and-high-value-multiplier.
Amongst all ratepayers, over half see no bill increases in 2026/27, including 23 per cent whose bills go down, due to the government's overall package. This also means most properties seeing increases have them capped at 15 per cent or less in 2026/27, or £800 for the smallest.
Additionally, the government has introduced a 1-year 15 per cent relief for all pubs and live music venues in 2026/27, on top of the existing support package announced at Budget. For the following two years, their bills will then be frozen in real terms. Three-quarters of pubs see bills flat or falling in 2026/27.
We recognise that hotels have expressed concerns about how they are valued for business rates. Hotels valuations are undertaken in a different way to some other sectors. The methodology used is well established, but, as with pubs, the government has announced it will review the way hotels are valued to ensure it accurately reflects the rental value for these sectors.
Exchequer Secretary (HM Treasury)
The UK is already one of the world’s leading sustainable finance centres, and our focus is how to evolve and expand. The Financial Services Growth and Competitiveness Strategy set out how the government will strengthen the UK to support the domestic and global transition and drive growth across the financial services sector.
We are delivering a number of targeted initiatives, prioritising changes that will make the greatest impact – for example, making the UK Sustainability Reporting Standards available and bringing ESG ratings into the regulatory perimeter. This will boost investor protection and UK competitiveness and allow the UK’s world-leading sustainable finance sector to adapt and continue to develop the innovative products which have propelled the UK’s sustainable finance leadership.
In addition, we are focused on making the UK a global hub for transition finance. This is not only essential for meeting global net-zero goals, but also represents a major opportunity for UK economic growth and investment.
We are still in the early stages of planning for our G20 Presidency. No decisions have been made on structure or topics but we expect a strong focus on growth and resilience, including the G20’s role in addressing vulnerabilities and managing global shocks.
Economic Secretary (HM Treasury)
The UK’s financial promotions regime is designed to ensure that consumers are provided with clear and accurate information that enables them to make appropriate decisions for their individual circumstances. The Financial Conduct Authority (FCA) is responsible for enforcing the regime and can take action against any financial promotions that are illegal or which do not comply with its rules. This includes the promotion of speculative investments via false news stories.
The FCA is taking action to address illegal financial promotions shared online. Last month, the FCA led a week of action against illegal financial influencers, which resulted in one guilty plea, 4 targeted warning letters, 34 warning alerts, and 120 takedown requests to social media platforms.
The FCA has also worked closely with large search engines and social media platforms to ensure that they only allow financial promotions that are made or approved by FCA-authorised firms. In addition, the Online Safety Act requires all user-to-user (such as social media services) and search services to remove illegal content including fraud. Non-compliant services could face a fine of up to a maximum of £18 million or 10% of qualifying worldwide revenue, whichever is higher.
Financial Secretary (HM Treasury)
HMRC continues to support industry, including car retailers, to maximise the use of the facilitations under the Windsor Framework. The UK Internal Market Scheme (UKIMS) can be used by authorised businesses to move eligible goods ‘not at risk’, without payment of duty, if they are brought from Great Britain into Northern Ireland for sale or final use by end consumers in the UK. The Independent Monitoring Panel's November 2025 report confirmed that the vast majority of goods movements to Northern Ireland by value (96%) continue to do so without paying any duty. Where goods are assessed to be 'at risk' but remain outside the EU, HMRC has also recently delivered improvements to the Duty Reimbursement Scheme (DRS) to support businesses, and in particular those affected by upfront duty costs.
Exchequer Secretary (HM Treasury)
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. VAT is the UK’s second largest tax, forecast to raise £189 billion in 2026/27.
Hot takeaway food is subject to the 20 per cent standard rate of VAT. This ensures parity of treatment with food sold in restaurants, which is also subject to the standard rate. Exceptions to the standard rate have always been limited and balanced against affordability considerations.
Across the UK from 25 June to 1 September the Government is introducing a temporary reduced rate of VAT on children's menu meals and eligible family attractions.
This temporary VAT relief is focused on activities especially targeted at children and families, keeping the package targeted and affordable. Including takeaways would have significantly increased the cost of the package, and this decision means the Great British Summer Savings is more closely targeted at family days out.
Exchequer Secretary (HM Treasury)
The Government takes the abuse of UK corporate structures by criminal networks extremely seriously. We are strengthening supervision of Trust and Company Service Providers by transferring responsibility to the FCA, alongside Companies House reforms to improve corporate transparency, including stronger powers to query information and new identity verification requirements.
Economic Secretary (HM Treasury)
The Government takes the abuse of UK corporate structures by criminal networks extremely seriously. We are strengthening supervision of Trust and Company Service Providers by transferring responsibility to the FCA, alongside Companies House reforms to improve corporate transparency, including stronger powers to query information and new identity verification requirements.
Economic Secretary (HM Treasury)
The Payment Services (Amendment) Regulations 2024 allows payment service providers to delay the execution of certain payment transactions by an additional 72 hours where there are reasonable grounds to suspect fraud or dishonesty, and where more time is needed to contact the customer. Use of these provisions is a matter for payment service providers and considered on a case-by-case basis.
Under these Regulations, the FCA is the responsible regulator. HMT regularly discusses with the FCA the effectiveness of policy, including measures to tackle fraud and ensure the framework in place supports both strong consumer protection and the efficient functioning of the UK’s payments ecosystem, but does not collect data on it.
Economic Secretary (HM Treasury)
The Payment Services (Amendment) Regulations 2024 allows payment service providers to delay the execution of certain payment transactions by an additional 72 hours where there are reasonable grounds to suspect fraud or dishonesty, and where more time is needed to contact the customer. Use of these provisions is a matter for payment service providers and considered on a case-by-case basis.
Under these Regulations, the FCA is the responsible regulator. HMT regularly discusses with the FCA the effectiveness of policy, including measures to tackle fraud and ensure the framework in place supports both strong consumer protection and the efficient functioning of the UK’s payments ecosystem, but does not collect data on it.
Economic Secretary (HM Treasury)
HM Treasury employees may only request temporary overseas working for personal reasons in very limited circumstances. Such requests are considered on a case-by-case basis, fully taking account of operational requirements and risk.
Any approved arrangements are time‑limited, with employees able to work overseas for up to two weeks at a time and no more than four weeks in any rolling 12‑month period, and always subject to prior senior approval.
Economic Secretary (HM Treasury)
The government does not comment on specific financial market movements. Gilt yields are determined by a wide range of international and domestic factors.
Parliamentary Secretary (HM Treasury)
Headline inflation decreased from 3.3% in March to 2.8% in April, driven mainly by lower household energy bills and a fall in services inflation. Food and non-alcoholic beverage inflation fell from 3.7% in March to 3.0% in April.
The Government has already taken action to reduce the cost of living, including taking £150 off energy bills this year, freezing rail fares and NHS prescription charges, raising the National Living Wage, and extending the £3 bus cap.
Parliamentary Secretary (HM Treasury)
The previous government announced the introduction of CBAM in 2023, in order to protect UK businesses producing carbon intensive goods domestically.
In recent years, UK-based fertiliser manufacturers have received sufficient free allowances to cover their emissions, and therefore have not in practice paid the carbon price.
This means that the CBAM rate, which will be set out later this year will be substantially lower than some external organisations are suggesting.
Exchequer Secretary (HM Treasury)
Low and stable inflation is vital for growth and investment. The independent Monetary Policy Committee (MPC) at the Bank of England are responsible monetary policy, and the MPC has the government’s full support as it acts to return inflation to target sustainably.
The most important thing the government can do to bring down inflation is to get borrowing down and stick to our fiscal rules. We have already reduced borrowing by nearly 1% of GDP in the last year and we are set to reduce borrowing faster than any other G7 country by 2030.
We have also supported the MPC by directly bearing down on prices. Action taken at the Budget will reduce inflation by 0.4ppt in 2026-27, through measures on energy bills, transport costs and fuel duty.
Parliamentary Secretary (HM Treasury)
The government has made fair and necessary choices on tax so it can deliver on the public’s priorities. The UK’s current tax-to-GDP ratio remains in the middle of the pack within the G7.
Whilst the government does not publish forecasts of economic growth, the Office for Budget Responsibility (OBR) published their latest Economic and Fiscal Outlook (EFO) in March 2026, including forecasts for economic growth.
Parliamentary Secretary (HM Treasury)
The Office for National Statistics publishes the “Effects of taxes and benefits on UK household income” report which sets out the level of taxes paid and benefits received by household type and income group. This includes direct and indirect taxes, as well as benefits in cash and in kind, to show their combined effect on household income. The most recent data is from the financial year 2023–24.
Parliamentary Secretary (HM Treasury)