2025–26—Fiscal events including Budget

This subtopic draws together content on the fiscal events throughout the tax year 2025–26, starting with the Spring Statement 2025 on 26 March 2025.

For more information on the Budget and Finance Bill processes, as well as the fiscal timetable more generally, see Practice Note: The Budget and Finance Bill process.

The analysis produced in this subtopic will be collected in Practice Note: 2025–26—Fiscal events including Budget—Tax Analysis.

Spring Statement 2025

On 26 March 2025, the Chancellor of the Exchequer, Rachel Reeves MP, presented the Spring Statement 2025 to Parliament. The government announced consultations and policy papers on substantive and administrative tax measures and other future developments.

For more information on the announcements, see News Analysis: Spring Statement 2025—Tax analysis.

Tax update spring 2025: simplification, administration and reform

On 28 April 2025, the Exchequer Secretary to the Treasury, James Murray MP, made a written statement to the House of Commons announcing a package of measures aimed at simplifying and reforming the tax system and improving tax administration. HMRC and HM Treasury published a complementary suite of documents comprising a summary of the measures,

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Tax News

Tax weekly highlights—26 February 2026

This week's edition of Tax weekly highlights includes: (1) a reminder of the Spring Forecast on Tuesday 3 March 2026, (2) an update on the progress of the National Insurance Contributions (Employer Pensions Contributions) Bill in the House of Lords, (3) new Scottish statutory instruments relating to the commencement of Scottish aggregates tax from 1 April 2026 and the uprating of Scottish landfill tax rates, and (4) analysis of the Upper Tribunal’s decision in the Lycamobile UK Limited case concerning the VAT treatment of telecom plan bundles.

FTT rules on the VAT consequences of services received from abroad (Genuine Care Homecare Services Ltd v HMRC)

Tax analysis: In Genuine Care Homecare Services Ltd v HMRC, the First-tier Tax Tribunal (FTT) dismissed the appellant’s appeal against assessments for VAT and a failure to notify penalty. It found that the assessments were made in time and that the appellant had no reasonable excuse for failing to notify HMRC of its liability to register for VAT in time.

UT rules VAT due in full on payments for telecom plan bundles (Lycamobile UK Ltd v HMRC)

Tax analysis: In Lycamobile UK Ltd v HMRC, the Upper Tribunal (UT) upheld the decision of the First-tier Tax Tribunal (FTT) and found that VAT should have been accounted for on the full amount payable for mobile phone plan bundles at the time the supplier received the consideration, rather than when they were used, as the supply was the right to use the plan bundles.

Tax weekly highlights—19 February 2026

This week's edition of Tax weekly highlights includes: (1) analysis of the Upper Tribunal’s (UT) decision in MWL International Ltd and another v HMRC concerning arguments that a 1993 agreement between the taxpayer and the Inland Revenue (as it then was) gave rise to an estoppel by convention or a legitimate expectation preventing HMRC from making National Insurance contributions (NICs) determinations many years later; (2) new HMRC guidance on the forthcoming tax adviser registration requirements; (3) HMRC’s performance update for October to December 2025; (4) publication of the synthesised texts of three tax treaties; and (5) a roundup of recent judicial decisions and HMRC manual updates.