Finance Bill 2026-27 published
The Finance Bill 2026-27 was introduced to the House of Commons and given its First Reading on 3 November 2026.
Further information
- Visit ICAEW's Finance Bill 2026-27 hub to access the bill and for links to supporting information, including articles published by the Tax Faculty.
- Track the bill's progress through Parliament
HMRC increases its interest rates
HMRC’s interest rates are linked to the Bank of England base rate. Therefore, following the recent increase in the Bank of England base rate by 0.25 percentage points to 4%, HMRC has announced increases in the rates of interest it charges on late paid tax and the rates it pays on repayments of tax.
The changes will come into effect on:
- 16 November 2026, for the purposes of corporation tax quarterly instalment payments; and
- 24 November 2026, for other purposes.
Further information
New UK withholding tax guidance
On 2 November 2026, HMRC published a form to be used when claiming income tax relief under a double taxation agreement where interest was paid to an overseas lender without deducting tax. HMRC's guidance (accompanying the form and at INTM413234) explains the circumstances in which the form should be used, what information to include and where to send it.
The concessionary treatment formerly at INTM413230 is withdrawn with effect from 2 November 2026.
New transfer pricing reporting requirements
Section 48 of Finance Act 2026 gives HMRC the power to introduce regulations requiring in-scope multinationals to file an international controlled transactions schedule (ICTS). Details of the reporting requirement have now been set out in regulations made on 30 October 2026.
The ICTS reporting requirement will take effect for accounting periods beginning on or after 1 January 2027.
ICAEW on the budget
Tax Faculty
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