The Finance (No. 2) Act 2017, Sections 60 and 61 (Digital Reporting and Record-Keeping) (Appointed Day and Revocations) Regulations 2026
These 2026 Regulations, made by the Treasury, formally appoint April 1st, 2026, as the commencement date for subsections 60(1) to (3) and 61(2) to (5) of the Finance (No. 2) Act 2017, which introduce new provisions for digital reporting and record-keeping into the Taxes Management Act 1970.
Concurrently, the regulations revoke the earlier 2021 and 2024 regulations concerning the appointed day for these specific digital tax measures.
Arguments For
Legislative implementation clarity by setting a definitive commencement date for key digital tax reporting provisions.
Streamlining the legislative framework by revoking previous, potentially superseded, appointed day regulations, reducing confusion for taxpayers and HMRC.
Fulfilling previously announced government policy regarding the transition to digital record-keeping systems for UK taxpayers, aligning with broader digitalization aims.
Arguments Against
Potential implementation challenges for taxpayers and tax agents who must adapt their systems to meet the new digital reporting mandates starting April 1st, 2026.
Disruption caused by rescinding prior appointed day regulations, requiring careful tracking to ensure continuity of effective dates for all related legislative changes.
Concerns regarding the burden placed on businesses, particularly small enterprises, to comply with new requirements amending the Taxes Management Act 1970.
2026 No. 356 (C. 30)
INCOME TAX
The Finance (No. 2) Act 2017, Sections 60 and 61 (Digital Reporting and Record-Keeping) (Appointed Day and Revocations) Regulations 2026
Made
24th March 2026
This identifies the document as UK statutory instrument 2026 No. 356, falling under the category of Income Tax regulations.
The full title specifies that the regulations concern setting the appointed day and revoking previous rules related to digital reporting and record-keeping mandated by Sections 60 and 61 of the Finance (No. 2) Act 2017.
The regulations were formally made on March 24th, 2026.
The Treasury make these Regulations in exercise of the powers conferred by sections 60(4) and 61(6) of the Finance (No. 2) Act 2017( a ).
The Treasury department enacted these rules.
They exercised specific legal authority granted to them by subsections 60(4) and 61(6) of the Finance (No. 2) Act 2017.
This confirms the executive power source for making these implementing regulations.
Citation
- These Regulations may be cited as the Finance (No. 2) Act 2017, Sections 60 and 61 (Digital Reporting and Record-Keeping) (Appointed Day and Revocations) Regulations 2026.
This section provides the official short title under which these regulations must be referenced.
The citation confirms the subject matter: operationalizing previously enacted legislation concerning digital tax reporting requirements.
Appointed Day
- 1st April 2026 is appointed as the day on which sections 60(1) to (3) and 61(2) to (5) of the Finance (No. 2) Act 2017( b ) come into force.
This establishes the key operational date.
April 1st, 2026, is designated as the official start date for specific parts of the 2017 Act concerning digital tax administration.
These provisions relate to introducing new digital record-keeping duties and the authority to amend tax laws accordingly.
Revocation of earlier Regulations
- The following Regulations are revoked-
- (a) the Finance (No. 2) Act 2017, Sections 60 and 61 and Schedule 14 (Digital Reporting and Record-Keeping) (Appointed Day) Regulations 2021( c );
- (b) the Finance (No. 2) Act 2017, Sections 60 and 61 and Schedule 14 (Digital Reporting and Record-Keeping) (Appointed Day) (Amendment) Regulations 2024( d ).
The regulations formally cancel two previous statutory instruments.
Specifically, the 2021 regulations which originally set the appointed day, and the 2024 regulations which presumably amended the initial timetable, are now revoked.
This cleans up the legislative landscape now that the definitive commencement date is set via this 2026 instrument.
24th March 2026
Taiwo Owatemi Stephen Morgan Two of the Lords Commissioners of His Majesty's Treasury
This confirms the date the regulations were signed and the signatories.
Taiwo Owatemi and Stephen Morgan acted as two Lords Commissioners for His Majesty's Treasury, validating the document's legal status.
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations revoke earlier appointed day regulations and appoint 1st April 2026 as the day on which sections 60(1) to (3) and 61(2) to (5) of the Finance (No. 2) Act 2017 come into force.
Section 60 amends the Taxes Management Act 1970 by inserting digital reporting and record-keeping provisions in a new section 12C and Schedule A1 to that Act.
Section 61 provides for a power to amend or modify provision of the Taxes Acts in consequence of the provision made by section 60.
A Tax Information and Impact Note has not been prepared for these Regulations as they give effect to previously announced policy and are appointed day regulations.
This note explains the regulations' purpose without forming part of their binding text.
They establish April 1st, 2026, as the start date for specific digital tax obligations from the 2017 Act and simultaneously remove previous commencement orders.
Section 60 of that Act introduces new rules for digital administration via amendments to the Taxes Management Act 1970.
Section 61 allows subsequent ministerial power to adjust tax laws based on the introduction of those digital requirements.
No formal impact note was deemed necessary because the regulations merely enact pre-existing policy.
Related
The Public Sector Fraud and Error (Recovery) Regulations 2026
Amended the 2016 Regulations to prohibit characterizing flavors in heated tobacco products and mandated enhanced health warnings for these items in Northern Ireland.
Read MoreThe Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2026
Increased the annual immigration health charge for standard visa applicants to £1,035 and for students and youth mobility applicants to £776.
Read MoreThe Registered Pension Schemes (Net Pay Arrangements) Regulations 2026
Amended the Finance Act 2004 to require HMRC to pay top-up amounts to pension contributors whose net pay arrangements result in less tax relief than relief at source methods.
Read MoreThe Pension Schemes Act 2026 (Commencement No. 1) Regulations 2026
Commenced Section 123 of the Pension Schemes Act 2026 regarding pension protection levies.
Read More