Economy Legislation
Regulations governing economic policy, monetary matters, taxation, public spending, and market regulation.
The Oxford Street Development Corporation (Establishment) Order 2025
This Order legally establishes the Oxford Street Development Corporation, effective from January 1st, 2026, pursuant to powers in the Localism Act 2011.
The Secretary of State makes the Order following notification from the Mayor of London regarding the designation of the Mayoral development area, which covers the Oxford Street area within Greater London, mapped precisely for reference, and names the newly established body the “Oxford Street Development Corporation.”
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.
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.
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.
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.
The Wireless Telegraphy (Mobile Spectrum Trading) (Amendment) (No. 2) Regulations 2025
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.
The Aviation Safety (Amendment) Regulations 2025
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.
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.