Economy Legislation
Regulations governing economic policy, monetary matters, taxation, public spending, and market regulation.
The National Savings (Remediation Scheme) (No. 2) Regulations 2026
These Regulations establish the National Savings (Remediation Scheme) (No. 2) to authorize the Director of Savings to make payments to the personal representatives of deceased persons whose estates suffered losses because the Director mistakenly retained certain National Savings holdings, such as bonds, certificates, or stock, after the holder died; the scheme defines what constitutes an eligible claim, sets out the methodology for calculating compensation—which provides for the greater of applicable contractual interest or a benchmarked rate plus 1%—and allows for payment of consequential losses, extending its scope across England, Wales, Scotland, Northern Ireland, the Isle of Man, and the Channel Islands.
The National Savings (Remediation Scheme) Regulations 2026
The National Savings (Remediation Scheme) Regulations 2026 establish a formal scheme, administered by the Director of Savings under the authority of the Treasury, to make payments to the personal representatives of deceased persons whose estates suffered losses because the Director of Savings mistakenly retained assets like accounts, bonds, or stocks.
The regulations define what constitutes an eligible claim, set out the calculation methods for payments (offering the greater of contractual interest or interest based on the Bank of England Base Rate plus one percent), and allow for further compensatory payments for resulting estate losses and administration costs.
These Regulations, enacted by His Majesty's Revenue and Customs (HMRC), amend the primary Income Tax (Pay As You Earn) Regulations 2003 to authorize HMRC to implement PAYE coding adjustments specifically for the purpose of collecting the Winter Fuel Payment Charge throughout a tax year.
This amendment inserts a new regulation (14BA) allowing HMRC to determine taxpayer codes to ensure the income tax liability arising from the Winter Fuel Payment Charge is deducted from PAYE income during the year, and to manage any resultant overpayments.
These Statutory Instruments amend existing UK customs legislation concerning safety and security procedures, primarily by modifying the Customs Safety and Security (Penalty) Regulations 2019 and the Commission Implementing Regulation (EU) 2015/2447.
The key changes involve introducing the definition of a 'customs representative' for penalty purposes, clarifying liability for entry summary and pre-departure declarations, mandating arrival notifications for vessels and aircraft, and updating obsolete legislative references within the implementing rules.
These Regulations, made by HM Revenue and Customs and the Treasury, introduce several amendments to existing UK customs legislation enacted following the EU exit, primarily concerning bulk Customs declarations, the acceptance of both paper and electronic customs carnets, the calculation of interest on late import duty liabilities, and providing HMRC with powers to require necessary examination or storage functions to be conducted at approved 'off-site facilities'.
The rules come into force on June 30th, 2026, with specific provisions taking effect retrospectively or immediately upon that date.
This instrument amends the regulatory framework for postgraduate Master’s and Doctoral loans in England to restrict which franchised courses qualify for government student support.
It directs that courses starting on or after 1 September 2028 are only designated for finance if the teaching provider is either registered with the Office for Students (OfS), is a specific exempt public body, or is an unregistered "below-threshold" provider with fewer than 300 students.
The regulations apply to higher education providers in England and the Secretary of State, establishing a system for determining student populations, issuing status notices, and managing appeals.
The Insolvency (England and Wales) (Amendment) Rules 2026
These Rules amend the Insolvency (England and Wales) Rules 2016 to modernize court procedures and administrative requirements for corporate and personal insolvency.
The instrument removes fax as a permitted method of document delivery, simplifies electronic filing requirements to a single copy, and replaces the term 'registrar' with 'judge' across various procedural categories.
It also increases the financial threshold for presenting bankruptcy petitions in the London Insolvency District from £50,000 to £500,000 and clarifies the approval process for insolvency practitioners seeking to exceed their original fee estimates.
These changes apply to insolvency practitioners, the courts, the Insolvency Service, and parties involved in insolvency proceedings in England and Wales.
This Order designates specific aerodromes in the United Kingdom as authorized locations for the landing or departure of aircraft for customs and excise purposes.
It applies to airport operators and aircraft commanders, mandating that international flights subject to customs controls use only the listed facilities.
By revoking the 2021 Order, it removes Coventry, Doncaster, Filton, Manston, and Plymouth airports from the list of designated customs and excise aerodromes.