15 Autumn Budget | 26 November 2025 Low value imports Customs duty relief on goods imported into the UK valued at £135 or less will be removed by no later than March 2029. Construction industry scheme HMRC will be given stronger powers to tackle fraud in the construction industry scheme (CIS) from April 2026. Advance corporation tax (ACT) The shadow ACT rules will be repealed from 1 April 2026. The government will consult on the future of the remaining ACT regime. Creative industries and research and development expenditure credits New legislation will set out the corporation tax treatment of intra-group payments made in return for surrendered R&D and the various creative industries tax credits. VAT and deposit return schemes (DRS) Administration of the DRS will be simplified by removing the requirement for individual producers to account for VAT on unreturned deposits. This will be done by the Deposit Management Organisation instead. Consultations The government is consulting on a number of matters including: • HMRC powers obliging taxpayers to correct inaccuracies where they are identified. • Modernising and standardising corporation tax submissions. • Reporting company payments to participators. • VAT treatment of land intended for social housing. Think ahead Check the dividend total on your tax return. HMRC has been writing to some selfassessment taxpayers asking them to check the dividend totals on their 2023/24 tax return because it has “seen quite a few mistakes in this area”. HMRC’s interest is likely to be greater for 2024/25 returns (due by 31 January 2026) as that year’s dividend allowance is half the 2023/24 level.
RkJQdWJsaXNoZXIy MjM4MA==