Finance Legislation
Laws governing financial services, banking regulation, insurance, investment, and securities trading.
These regulations empower the registrar to annotate company and limited liability partnership (LLP) registers with information regarding director disqualifications, non-compliance with information requests, company registration on false bases, and restrictions on public access to registrable person's particulars.
The goal is to improve transparency and clarity for those reviewing the registers, thus aiding better risk assessment and enforcement.
Specific provisions detail how these annotations will be made, clarifying the relevant information to be included and the timing of implementation.
The Retained EU Law (Revocation and Reform) Act 2023 (Social Security Co-ordination) (Compatibility) Regulations 2025
The Retained EU Law (Revocation and Reform) Act 2023 (Social Security Co-ordination) (Compatibility) Regulations 2025, effective June 4, 2025, ensure the compatibility of UK domestic law with retained EU law concerning social security coordination.
Specifically, it mandates compatibility between several UK insolvency and debt arrangement acts and relevant articles of EU Regulations 883/2004 and 987/2009, preserving international agreements on cross-border social security and debt recovery.
The Value Added Tax (Amendment) Regulations 2025, effective June 14th, 2025, amend the 1995 VAT Regulations to allow the Commissioners of His Majesty's Revenue and Customs to extend deadlines for final VAT returns.
This power applies to individuals ceasing VAT registration on or after June 14th, 2025, providing additional flexibility in specific circumstances.
The Financial Services and Markets Act 2023 (Commencement No. 9) Regulations 2025
These regulations, made under the Financial Services and Markets Act 2023, establish commencement dates for various provisions within the Act.
Some provisions, including aspects of the revocation of assimilated law related to financial services and markets along with the repeal of certain sections of the Financial Services and Markets Act 2000, come into force the day after the regulations are made.
Other provisions, notably the revocation of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014, will commence on July 31, 2025.
The regulations apply across England, Wales, Scotland, and Northern Ireland.
The Agriculture (Delinked Payments) (Reductions) (England) Regulations 2025
The Agriculture (Delinked Payments) (Reductions) (England) Regulations 2025, enacted under the Agriculture Act 2020, mandate reductions to delinked payments for English farmers in 2025.
These reductions are tiered based on the payment amount, with a 76% reduction for payments up to £30,000 and a 100% reduction for amounts above that threshold, impacting several sections of previously enacted Delinked Payments Regulations.
The regulations clarify how these percentages are to be applied and came into effect 21 days after their creation.
The Proceeds of Crime Act 2002 (References to Financial Investigators) (England and Wales and Northern Ireland) (Amendment) Order 2025
This Order amends the Proceeds of Crime Act 2002 (References to Financial Investigators) (England and Wales and Northern Ireland) Order 2021.
The amendments clarify the descriptions of accredited financial investigators for handling cryptoassets and converted cryptoassets within civil recovery procedures under Chapters 3C, 3D, and 3F of Part 5.
The changes take effect on May 27, 2025, and apply to England, Wales, and Northern Ireland.
The lack of a full impact assessment suggests minimal anticipated effect on the public or private sectors.
The Taxation of Chargeable Gains (Gilt-edged Securities) Order 2025, issued by the Treasury, specifies fourteen gilt-edged securities as exempt from capital gains tax under the Taxation of Chargeable Gains Act 1992.
This action simplifies tax administration and supports efficient government borrowing by providing certainty for investors.
This Order, effective June 1st, 2025, revokes the Institute of Chartered Accountants in Ireland's recognition as a professional body for insolvency practitioners.
The revocation is a direct result of a request from the Institute itself and aligns with Section 391N of the Insolvency Act 1986.
The Secretary of State confirmed the appropriateness of the action after consideration of all relevant factors.
A public notice detailing the effective date and reasons has been published.