Economy Legislation

Regulations governing economic policy, monetary matters, taxation, public spending, and market regulation.

The Customs Tariff (Preferential Trade Arrangements) (Amendment) Regulations 2025

Published: Wed 5th Nov 25

The instrument amended the Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020 to substitute the Republic of Korea Origin Reference Document to version 1.3, effective from 31st December 2025.


These Regulations, made by the Treasury with the recommendation of the Secretary of State under powers granted by the Taxation (Cross-border Trade) Act 2018, amend existing 2020 regulations to update the Republic of Korea Free Trade Agreement documentation.

Specifically, the amendment replaces the reference in Schedule 1 to the applicable origin reference document with version 1.3, dated 31st October 2025, to give effect to an exchange of notes between the UK and South Korea concerning the extension of cumulation of origin and direct transport provisions related to the European Union, and they come into force on 31st December 2025, extending across the whole of the UK.

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The Companies (Directors’ Report) (Payment Reporting) Regulations 2025

Published: Wed 5th Nov 25

The Regulations mandated amendments to existing reporting rules, established substantive new disclosures on supplier payment performance for large companies, and set a periodic review schedule for these new requirements.


These Regulations, made under powers provided by the Companies Act 2006, amend the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to introduce new requirements for large companies to report specific details regarding their B2B payment practices and performance within their Directors’ Reports, effective for financial years starting on or after January 1, 2026.

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The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) (No. 2) Order 2025

Published: Tue 4th Nov 25

This Order amended the 2025 Order by adjusting rules regarding credit broking exclusions for deferred payment agreements and providing transitional arrangements for existing regulated permissions.


The Treasury issues this Order to amend the Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025, which primarily addresses the regulation of deferred payment credit agreements, often termed "buy-now-pay-later" (BNPL) agreements.

Key amendments include excluding domestic premises suppliers from certain credit broking regulations related to these agreements and establishing transitional provisions to ensure that existing Part 4A permissions remain valid for the activities as they stand after the Order’s changes take effect on the regulatory commencement date.

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The Economic Crime (Anti-Money Laundering) Levy (Amendment) Regulations 2025

Published: Tue 4th Nov 25

The Commissioners of HMRC enacted regulations amending the 2022 Levy Regulations to assign HMRC as the responsible authority for repaying overpaid Economic Crime (Anti-Money Laundering) Levy amounts transferred under specific collection provisions.


These Regulations, made by the Commissioners of His Majesty’s Revenue and Customs (HMRC), amend the Economic Crime (Anti-Money Laundering) Levy Regulations 2022, specifically addressing the procedure for repaying levy amounts that have been overpaid.

The amendment clarifies that if the responsibility for collecting unpaid levy amounts is transferred from the Financial Conduct Authority or the Gambling Commission to the HMRC Commissioners, then HMRC Commissioners become the appropriate authority responsible for issuing any repayment of amounts subsequently found to have been overpaid.

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The Wireless Telegraphy (Mobile Spectrum Trading) (Amendment) (No. 2) Regulations 2025

Published: Tue 4th Nov 25

OFCOM amended core conditions governing the transfer of mobile spectrum licences by removing instalment payment prerequisites and updating references to current licence charge regulations.


The Office of Communications (OFCOM) enacted these Regulations under the authority of the Wireless Telegraphy Act 2006 to amend the 2011 Mobile Spectrum Trading Regulations, specifically modifying Regulation 6 which defines circumstances where a transfer of licence rights and obligations is not authorized.

The primary changes involve removing the requirement that all instalment payments towards a licence charge must be paid before a transfer can occur, and updating the references within the regulation concerning outstanding sums payable under the 900 MHz, 1800 MHz, and 2100 MHz frequency band licence charge regulations to reflect the current 2025 legislation.

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The Aviation Safety (Amendment) Regulations 2025

The legislation amended retained EU aviation safety law by updating rules on continuing airworthiness, maintenance organization requirements, and licensing examination timelines.


The Aviation Safety (Amendment) Regulations 2025 enact changes to UK retained EU aviation safety legislation, primarily by amending Commission Regulations (EU) No 1321/2014 and 2018/1139.

These amendments focus on correcting cross-references and terminology within continuing airworthiness (Part-M), maintenance standards (Part-145), and maintenance licensing (Part-66 Appendix 8).

Key changes include updating rules for maintenance data access, refining conditions for acceptable component release documentation (like substituting Form 1 with a 'declaration of maintenance accomplished'), clarifying record-keeping mandates for maintenance organisations, and adjusting rules for re-taking Category L aircraft maintenance licence examinations.

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The Income Tax (Pay As You Earn) (Amendment No. 2) Regulations 2025

Published: Mon 3rd Nov 25

The Regulations amended the Income Tax (Pay As You Earn) Regulations 2003 to replace references to the Inland Revenue with 'HMRC' in interpretation and electronic communication provisions.


These Regulations, enacted by the Commissioners for His Majesty’s Revenue and Customs, amend the Income Tax (Pay As You Earn) Regulations 2003, which come into force on November 24th, 2025.

The primary changes substitute references relating to the 'Inland Revenue' with 'HMRC' in two specific areas: the interpretation definition and the regulations concerning the use of unauthorized electronic communication methods.

These amendments are largely consequential and aimed at updating terminology and allowing Commissioners to undertake functions previously reserved for officers.

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The Financial Services (Overseas Recognition Regime Designations) Regulations 2025

Published: Fri 31st Oct 25

HM Treasury enacted regulations establishing the framework for designating overseas financial recognition regimes, coordinating regulatory functions, and amending secondary legislation governing insurance and short selling.


The Financial Services (Overseas Recognition Regime Designations) Regulations 2025 establish the framework under which HM Treasury can designate the laws and practices of other countries or territories as equivalent to UK financial services and markets law, exercising powers granted by the Financial Services and Markets Act 2023.

The Regulations define what constitutes an 'overseas recognition regime designation,' grant the Treasury power to impose conditions, require decision-making coordination among the Treasury and key regulators (FCA, PRA, Bank of England), and introduce specific information-gathering powers.

Furthermore, the document amends existing legislation regarding insurance and short selling regulations to align them with this new designation regime.

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