Finance Legislation
Laws governing financial services, banking regulation, insurance, investment, and securities trading.
The Disclosure (Scotland) Act 2020 (Consequential Provisions and Modifications) Order 2025
This legislation established duties for UK law-enforcement bodies regarding information disclosure and review related to the Disclosure (Scotland) Act 2020, amended related legislation, and issued guidance for implementation.
This order implements the Disclosure (Scotland) Act 2020 across the UK. It mandates information sharing and review processes by UK law enforcement bodies regarding Level 2 disclosures, mirroring existing duties of Scottish law enforcement.
It also amends relevant acts to ensure consistency and defines key terms like "UK law-enforcement body." The order addresses payment for services rendered under its provisions and outlines guidance issuance by the Scottish Ministers.
The Civil Legal Aid (Remuneration) (Amendment) Regulations 2025
The regulations amended the Civil Legal Aid (Remuneration) Regulations 2013 by increasing fees for welfare benefit cases, removing some fee schedules, and safeguarding pre-May 1, 2025, applications.
The Civil Legal Aid (Remuneration) (Amendment) Regulations 2025, effective May 1, 2025, amend the 2013 Civil Legal Aid (Remuneration) Regulations.
The amendments increase standard fees for legal representation in welfare benefit cases and streamline the fee schedule by removing certain tables.
A saving provision ensures that these changes do not apply retroactively to applications made before May 1, 2025.
The Multinational Top-up Tax (Pillar Two Territories, Qualifying Domestic Top-up Taxes and Accredited Qualifying Domestic Top-up Taxes) Regulations 2025
The 2025 regulations specified territories and taxes as Pillar Two territories and qualifying domestic top-up taxes, implementing the OECD/G20 Pillar Two model rules for multinational tax.
The Multinational Top-up Tax Regulations 2025, effective April 21, 2025, specify territories and domestic taxes aligning with the OECD/G20 Pillar Two model rules.
These rules aim to ensure multinational corporations pay a minimum level of tax, preventing tax avoidance and promoting a fairer system.
The regulations list specific territories and taxes as ‘Pillar Two territories’ and ‘qualifying domestic top-up taxes’ effective from various dates in late 2023 and early 2024, also allowing HMRC to specify additional entities through notice publication.
The 2025 rules amended the Gangmasters (Licensing Conditions) Rules 2009, increasing fees for gangmaster licenses and inspections.
The Gangmasters (Licensing Conditions) (Amendment) (Fees) Rules 2025, effective April 28th, 2025, revise fees for gangmaster licences in England, Wales, Scotland, and Northern Ireland.
These rules amend the Gangmasters (Licensing Conditions) Rules 2009, increasing application, renewal, and inspection fees across several bands depending on annual turnover.
Consultation with the relevant Northern Ireland department occurred, and transitional provisions address applications and renewals already in progress.
The Universal Credit, Personal Independence Payment, Jobseeker's Allowance and Employment and Support Allowance (Claims and Payments) (Modification) Regulations 2025
The 2025 regulations modified the 2013 regulations on Universal Credit, PIP, JSA, and ESA claims and payments to prioritize child maintenance deductions, effective from April 30, 2025, to April 30, 2026.
These regulations amend the 2013 regulations governing Universal Credit, Personal Independence Payment, Jobseeker’s Allowance, and Employment and Support Allowance claims and payments.
The key change prioritizes deductions for child maintenance over other deductions.
The regulations apply to England, Wales, and Scotland and are in effect from April 30, 2025, to April 30, 2026.
The 2025 regulations amended multiple existing tax regulations, increasing the interest rate payable to HMRC on outstanding tax liabilities.
The Taxes and Duties, etc (Interest Rate) (Amendment) Regulations 2025 amend several existing regulations to increase the interest rate on unpaid taxes owed to HMRC. The changes affect various tax areas, including income tax, air passenger duty, and customs duties, raising the interest rate by 1.5% in each affected area.
The regulations came into force on April 6, 2025, and are supported by prior legislation.
The Relief for Creative Industries (Additional Information Requirements and Miscellaneous Amendments) (Amendment) Regulations 2025
The 2025 Regulations amended the 2024 regulations regarding creative industry tax relief by adding definitions, clarifying information requirements, and updating the required information for claims.
These regulations amend the 2024 regulations on tax relief for creative industries.
They clarify definitions, add information requirements for connected party transactions and visual effects vendors, and update the specified information in Table 1 of the Schedule.
The amendments are effective for claims made on or after April 15, 2025, and aim to improve clarity, transparency, and efficiency in processing tax relief claims.
The Flood Reinsurance (Amendment) Regulations 2025
The Flood Reinsurance (Amendment) Regulations 2025 increased the levy to £160 million and amended the 2015 regulations.
These regulations amend the 2015 Flood Reinsurance regulations, raising the total levy from £135 million to £160 million.
This increase aims to improve the affordability and availability of flood insurance in high-risk areas.
The amendment applies to England, Wales, Scotland, and Northern Ireland and took effect on April 1st, 2025, without affecting existing liabilities.