The government has released draft legislation for the Finance Bill 2025-26 for public consultation.
Key proposals include an overhaul of Inheritance Tax, refinements to Making Tax Digital for Income Tax (MTD for IT), updates to penalty reform regimes, regulation of tax advisers, and revised rules for carried interest.
Each measure comes with a tax information and impact note (TIIN), outlining policy aims and expected outcomes, alongside draft legislation and detailed explanatory notes.
The consultation remains open until 15 September 2025, with final decisions on the Finance Bill to be made by Chancellor Rachel Reeves.
Source: GOV.UK
