Source Currency: Issue 48, 4 December 2025. Budget Summary Personal taxes Business taxes Corporation taxes Employment taxes Inheritance taxes VAT and other indirect taxes Other tax announcements Consultations Tax tables Income tax allowances Income tax rates National Insurance Contributions 2026–27 Individual savings accounts Capital gains tax Corporation tax Residential property developer tax Bank levy Bank surcharge Car benefit Car fuel benefit Tax-free mileage allowances Inheritance tax Stamp taxes Annual tax on enveloped dwellings VAT Capital allowances Pillar 2 global minimum tax Economic crime (anti-money laundering) levy Registered pension schemes Budget Statement Budget Statement (extracts) Budget Resolutions Resolutions to be moved by the Chancellor of the Exchequer Extract from the Financial Statement Budget Report (tax extracts) Tax Information and Impact Notes Abolition of the notional tax credit on dividends received by non-UK residents Advance tax certainty service—major investment projects with certainty in advance Changes to Aggregates Levy legislation in preparation for devolution to Scotland Alcohol Duty—rates change Aligning PAYE notifications with the Overseas Workday Relief limit Annual Tax on Enveloped Dwellings—out of time claims to relief Anti-avoidance rule relating to certain non-derecognition liabilities Plug-in hybrid electric vehicles—benefits in kind easement Capital Gains Tax—Employee Ownership Trusts relief reduction Capital Gains Tax—Incorporation Relief claims process Non-resident capital gains Capital Gains Tax—share exchanges and reorganisations Capping Inheritance Tax trust charges for excluded property in trusts at 30 October 2024 Changes to agricultural property relief and business property relief Changes to charity tax rules Changes to Employee Car Ownership Schemes (ECOS) Gambling duty changes Collective money purchase scheme—registration for unconnected multiple employers Construction Industry Scheme—tackling fraud Controlled foreign companies—treatment of interest on the reversal of state aid recovery Corporate Interest Restriction—relief for certain capital expenditure in calculation of taxable earnings (tax-EBITDA) Corporate Interest Restriction—reporting companies Increases to Corporation Tax late filing penalties Creative industries and Research and Development Expenditure Credits—administrative measures Crown Immunity—repeal of obsolete legislation Domestic reporting of UK resident cryptoasset users under the Cryptoasset Reporting Framework Economic Crime Levy—changes to bands and charges Framework Venture Capital Trusts, Enterprise Investment Scheme investment limit increase and restructure Expanding the eligibility limits of the Enterprise Management Incentive scheme Capital allowances—extension of first-year allowances for zero-emission cars and chargepoints Pillar 2—Further amendments to Multinational Top-up Tax and Domestic Top-up Tax Income Tax—cancelled, moved or curtailed shifts Income Tax charge on Winter Fuel Payments Removal of tax relief on non-reimbursed homeworking expenses Inheritance tax relief for infected blood compensation payments extension Inheritance tax—anti-avoidance Inheritance Tax—thresholds Inheritance Tax—unused pension funds and death benefits Inland border facilities—changes to port approvals legislation Introduction of Carbon Border Adjustment Mechanism Vaping Duty Stamps scheme information Introduction of Vaping Products Duty from 1 October 2026 Landfill tax rates for 2026 to 2027 Loan charge review Maintaining Income Tax and equivalent National Insurance contributions thresholds until 5 April 2031 Tax advisers to register with HMRC and meet minimum standards Modernising HMRCs outbound digital communications Capital allowances—new first-year allowance and reducing main rate writing-down allowances Oil and gas taxation—Decommissioning Relief Deeds Umbrella company market—changes to Income Tax rules to tackle non-compliance Plastic Packaging Tax—mass balance approach and removal of pre-consumer plastic VAT relief for business donations on goods to charities Technical amendments to the residence-based tax regime Stamp Duty Reserve Tax—UK Listing Relief Modernisation of the Stamp Taxes on Shares Framework Closing in on promoters of marketed tax avoidance schemes Tackling tax adviser facilitated non-compliance by enhancing HMRC’s powers Allowing existing Company Share Option Plan and Enterprise Management Incentives options to become exercisable at a PISCES trading event Post departure trade profits Expanding workplace benefits relief Reform of UK law in relation to transfer pricing, permanent establishment and Diverted Profits Tax Tobacco Duty—rate changes Tour Operators’ Margin Scheme—change in legislation for Private Hire Vehicle Operators International controlled transactions schedule (ICTS) Motability Scheme—reforming tax reliefs Combined County Authorities VAT refunds under section 33 of the VAT Act 1994 Vehicle Excise Duty for expensive car supplement threshold increase for zero emission vehicles.