Finance Legislation
Laws governing financial services, banking regulation, insurance, investment, and securities trading.
Fixing Errors in the 2026 LGPS Member Benefits Rules
This instrument formally issues corrections for numerous textual and referencing errors found across various pages and regulations within The Local Government Pension Scheme (Miscellaneous Amendments) (Member Benefits) Regulations 2026.
This statutory instrument is a formal correction notice addressing several typographical, cross-referencing, and textual errors identified within the main body and Explanatory Note of The Local Government Pension Scheme (Miscellaneous Amendments) (Member Benefits) Regulations 2026, which pertains to pension arrangements in England and Wales.
The National Savings (Remediation Scheme) (No. 2) Regulations 2026
- Department: HM Treasury
- Made under: National Debt Act 1972
The Regulations established a remediation scheme for the Director of Savings to compensate estates for retained assets of deceased persons following administrative errors.
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
- Department: HM Treasury
- Made under: National Savings Bank Act 1971
The Treasury established The National Savings (Remediation Scheme) Regulations 2026 to govern payments made by the Director of Savings concerning eligible claims arising from the erroneous retention of assets belonging to deceased persons.
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.
The Branded Health Service Medicines (Costs) (Amendment) Regulations 2026
- Department: Department of Health and Social Care
- Made under: National Health Service Act 2006
The Regulations updated the payment percentages within the statutory scheme governing costs associated with branded health service medicines for periods starting July 2026 and beyond.
These Regulations, made by the Secretary of State for Health and Social Care, amend the Branded Health Service Medicines (Costs) Regulations 2018, which establishes a scheme requiring manufacturers and suppliers of branded medicines for the National Health Service (NHS) to pay amounts based on net sales income; the amendments update specific payment percentages applicable for periods beginning July 1st, 2026, and for subsequent years across England, Wales, Scotland, and Northern Ireland.
The Public Service Pensions Act 2013 (Amendment of Section 3) Order 2026
- Department: HM Treasury
- Made under: Public Service Pensions Act 2013
The Order amended Section 3(6) of the Public Service Pensions Act 2013 to omit the requirement exemption for Scottish Ministers' scheme regulations covering fire and rescue workers and police members, effective 1st July 2026.
This Statutory Instrument, made by HM Treasury in June 2026 and effective from July 1st, 2026, amends Section 3 of the Public Service Pensions Act 2013 by specifically removing the exemption that previously existed for scheme regulations made by the Scottish Ministers concerning fire and rescue workers and members of a police force; this action removes those specific regulations from the list of those that do not require prior consent from HM Treasury.
The Income Tax (Pay As You Earn) (Amendment No. 2) Regulations 2026
- Made under: Income Tax (Earnings and Pensions) Act 2003
The Regulations amended the 2003 PAYE Regulations to grant HMRC authority for using PAYE coding to collect the Winter Fuel Payment Charge.
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.
The Money Laundering and Terrorist Financing (Amendment) Regulations 2026
- Department: HM Treasury
- Made under: Sanctions and Anti-Money Laundering Act 2018
The Treasury amended the MLRs 2017 to introduce enhanced due diligence for cryptoasset correspondent relationships, update trust registration rules, create provisions for insolvent bank customers, substitute monetary thresholds from Euros to Sterling, and modify change of control rules for cryptoasset businesses.
These Regulations, enacted by HM Treasury, substantially amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) to strengthen anti-money laundering and counter-terrorist financing regimes, notably by implementing enhanced due diligence requirements for cryptoasset correspondent relationships and addressing specific areas like insolvent bank customers and trust registration.
Key changes include the introduction of new duties for cryptoasset businesses dealing with overseas providers, clarification of Customer Due Diligence (CDD) for pooled accounts, substitution of 'high-risk third country' with 'FATF call for action country,' conversion of various monetary thresholds from Euros to Sterling, and amendments to trust registration rules concerning pre-2020 UK land acquisitions and the exclusion criteria for certain trusts.
Furthermore, the rules governing changes in control over registered cryptoasset businesses are modified to align with the evolving future regulatory framework under FSMA, with some provisions taking effect later in 2027.
The Customs (Miscellaneous Amendments) Regulations 2026
- Department: HM Treasury
- Made under: Taxation (Cross-border Trade) Act 2018, Customs and Excise Management Act 1979, Finance Act 2003
Government enacted miscellaneous amendments to existing customs regulations concerning bulk declarations, carnet usage, import duty interest calculation, and approval conditions for storage facilities, effective June 30th, 2026.
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.