HM Treasury

The amount of business rates paid on each property is based on the rateable value of the property, assessed by the Valuation Office Agency (VOA), and the multiplier values, which are set by the Government. Rateable values are re-assessed every three years. Revaluations ensure that the rateable values of properties (i.e. the tax base) remain in line with market changes, and that the tax rates adjust to reflect changes in the tax base.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since Covid, which has led to significant increases in rateable values for some properties.

To support with bill increases, at the Budget, the Government introduced a support package worth £4.3 billion over the next three years, including to protect ratepayers seeing their bills increase because of the revaluation. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down. Government support also means that most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

More broadly, later this year, the Government will bring forward a new High Streets Strategy to reinvigorate our communities. The Government will work with businesses and representative bodies to pull this Strategy together.

The amount of business rates paid on each property is based on the rateable value of the property, assessed by the Valuation Office Agency (VOA), and the multiplier values, which are set by the Government. Rateable values are re-assessed every three years. Revaluations ensure that the rateable values of properties (i.e. the tax base) remain in line with market changes, and that the tax rates adjust to reflect changes in the tax base.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since Covid, which has led to significant increases in rateable values for some properties.

To support with bill increases, at the Budget, the Government introduced a support package worth £4.3 billion over the next three years, including to protect ratepayers seeing their bills increase because of the revaluation. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down. Government support also means that most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

More broadly, later this year, the Government will bring forward a new High Streets Strategy to reinvigorate our communities. The Government will work with businesses and representative bodies to pull this Strategy together.

The amount of business rates paid on each property is based on the rateable value of the property, assessed by the Valuation Office Agency (VOA), and the multiplier values, which are set by the Government. Rateable values are re-assessed every three years. Revaluations ensure that the rateable values of properties (i.e. the tax base) remain in line with market changes, and that the tax rates adjust to reflect changes in the tax base.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since Covid, which has led to significant increases in rateable values for some properties.

To support with bill increases, at the Budget, the Government introduced a support package worth £4.3 billion over the next three years, including to protect ratepayers seeing their bills increase because of the revaluation. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down. Government support also means that most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

More broadly, later this year, the Government will bring forward a new High Streets Strategy to reinvigorate our communities. The Government will work with businesses and representative bodies to pull this Strategy together.

The amount of business rates paid on each property is based on the rateable value of the property, assessed by the Valuation Office Agency (VOA), and the multiplier values, which are set by the Government. Rateable values are re-assessed every three years. Revaluations ensure that the rateable values of properties (i.e. the tax base) remain in line with market changes, and that the tax rates adjust to reflect changes in the tax base.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since Covid, which has led to significant increases in rateable values for some properties.

To support with bill increases, at the Budget, the Government introduced a support package worth £4.3 billion over the next three years, including to protect ratepayers seeing their bills increase because of the revaluation. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down. Government support also means that most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

More broadly, later this year, the Government will bring forward a new High Streets Strategy to reinvigorate our communities. The Government will work with businesses and representative bodies to pull this Strategy together.

Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.

Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.

The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.

Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.

Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.

The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.

Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.

Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.

The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.

Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.

Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.

The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.

Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.

Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.

The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.

At Budget 2024, the Government commissioned an independent review of the loan charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge. The review was led by Ray McCann, a former President of the Chartered Institute of Taxation.

The Government accepted the review’s conclusion that the loan charge was an extraordinary piece of Government policy which necessitated an exceptional response, and is now legislating a new settlement opportunity that will assist those who have not yet settled to do so.

As a result, most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely. To encourage more people to settle, the Government will write off the first £5,000 of liabilities in addition to the proposals put forward by Ray McCann.

HMRC are committed to supporting people through this process and are working hard to give them certainty on their tax positions as quickly as possible. This includes a dedicated service to guide people through the settlement process and provide extra support for those who need it. HMRC can also provide reasonable adjustments to meet an individual’s needs.

At Budget 2024, the Government commissioned an independent review of the loan charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge. The review was led by Ray McCann, a former President of the Chartered Institute of Taxation.

The Government accepted the review’s conclusion that the loan charge was an extraordinary piece of Government policy which necessitated an exceptional response, and is now legislating a new settlement opportunity that will assist those who have not yet settled to do so.

As a result, most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely. To encourage more people to settle, the Government will write off the first £5,000 of liabilities in addition to the proposals put forward by Ray McCann.

HMRC are committed to supporting people through this process and are working hard to give them certainty on their tax positions as quickly as possible. This includes a dedicated service to guide people through the settlement process and provide extra support for those who need it. HMRC can also provide reasonable adjustments to meet an individual’s needs.

At Budget 2024, the Government commissioned an independent review of the loan charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge. The review was led by Ray McCann, a former President of the Chartered Institute of Taxation.

The Government accepted the review’s conclusion that the loan charge was an extraordinary piece of Government policy which necessitated an exceptional response, and is now legislating a new settlement opportunity that will assist those who have not yet settled to do so.

As a result, most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely. To encourage more people to settle, the Government will write off the first £5,000 of liabilities in addition to the proposals put forward by Ray McCann.

HMRC are committed to supporting people through this process and are working hard to give them certainty on their tax positions as quickly as possible. This includes a dedicated service to guide people through the settlement process and provide extra support for those who need it. HMRC can also provide reasonable adjustments to meet an individual’s needs.

The data on the number of ship management companies which have qualified for Tonnage Tax scheme since 1 April 2024 to date is not available as the full set of corporation tax returns relating to 2024-25 liabilities are yet to be received and processed. Estimates will be published in the next Tax relief statistics publication, scheduled for January 2027.

You can find the requested statistics here:

https://www.gov.uk/government/statistics/tax-reliefs

Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.

Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.

The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.

The Government is introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

Since these new multipliers were announced at Autumn Budget 2024, the Government has been clear that the intention was for their scope to broadly reflect the scope of the current RHL relief.

In addition, the Government is providing a £4.3 billion support package to protect ratepayers from large overnight bill increases. This includes extending the supporting small business scheme to those losing RHL relief, which will cap bill increases at the higher of the relevant Transitional Relief cap or £800. As a result, the majority of those seeing increases will see them capped at 15% or less, or £800 for the smallest, next year.

The UK’s capital markets play a key role in delivering on the government’s growth mission. We have already delivered an ambitious set of reforms to make it easier for firms to start, scale, list and stay on UK markets, and capital markets are a core pillar of the Financial Services Growth and Competitiveness Strategy, launched at Mansion House.

The UK is also a hub for growth capital, with UK growth markets providing funding to growing companies from across the world. Over the last 10 years, over half of all capital raised on European growth markets was raised on AIM.

The government maintains a range of targeted tax reliefs for growth market shares, supporting capital raising for listed businesses, and investors in those shares. This supports growth in the broader UK economy.

The Government is ensuring all private jets are taxed fairly. Currently, only 36% of private jet passengers pay the higher APD rate, while most pay the same as those on commercial flights, despite using a more premium service with far higher emissions per passenger.

Building on the 50% rate increase announced at Autumn Budget 2024, at Budget 2025, the government announced that it would extend the higher rate to all private jets over 5.7 tonnes from April 2027.

This change ensures that private jet passengers pay higher rates of APD compared to commercial flyers and ensures fair and consistent taxation across private aviation.

The reforms to business property relief from 6 April 2026 get the balance right between supporting businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992 when the rate of relief was a maximum of 50 per cent on all business assets, including the first £2.5 million.

Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This means just over 80 per cent of such estates making claims are forecast to not pay any more inheritance tax.

The rules for business property relief are longstanding and business assets do not qualify for 100 per cent relief under the current rules if they do not meet qualifying conditions, such as the minimum period of ownership test and the nature of the business.

Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. Any liability can also be settled through the disposal of any assets within the estate where appropriate. Where share buybacks are used to fund a liability, special treatment has also existed in the system since 1982 for shares in unquoted companies when inheritance tax could not otherwise have been paid without undue hardship.

More generally, HMRC recognises the difficulties that personal representatives may face when raising funds to pay inheritance tax and has a number of established ways to help tax payments be made. This includes the Direct Payment Scheme which can be used to transfer money electronically directly from the deceased’s account(s) to HMRC to settle the liability before probate is granted. There are also other options available if the inheritance tax cannot be paid before probate is granted, such as applying for a grant on credit. This allows payment of all or some of the tax and interest due to be postponed until after the grant of probate.

The reforms to business property relief from 6 April 2026 get the balance right between supporting businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992 when the rate of relief was a maximum of 50 per cent on all business assets, including the first £2.5 million.

Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This means just over 80 per cent of such estates making claims are forecast to not pay any more inheritance tax.

The rules for business property relief are longstanding and business assets do not qualify for 100 per cent relief under the current rules if they do not meet qualifying conditions, such as the minimum period of ownership test and the nature of the business.

Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. Any liability can also be settled through the disposal of any assets within the estate where appropriate. Where share buybacks are used to fund a liability, special treatment has also existed in the system since 1982 for shares in unquoted companies when inheritance tax could not otherwise have been paid without undue hardship.

More generally, HMRC recognises the difficulties that personal representatives may face when raising funds to pay inheritance tax and has a number of established ways to help tax payments be made. This includes the Direct Payment Scheme which can be used to transfer money electronically directly from the deceased’s account(s) to HMRC to settle the liability before probate is granted. There are also other options available if the inheritance tax cannot be paid before probate is granted, such as applying for a grant on credit. This allows payment of all or some of the tax and interest due to be postponed until after the grant of probate.

The reforms to business property relief from 6 April 2026 get the balance right between supporting businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992 when the rate of relief was a maximum of 50 per cent on all business assets, including the first £2.5 million.

Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This means just over 80 per cent of such estates making claims are forecast to not pay any more inheritance tax.

The rules for business property relief are longstanding and business assets do not qualify for 100 per cent relief under the current rules if they do not meet qualifying conditions, such as the minimum period of ownership test and the nature of the business.

Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. Any liability can also be settled through the disposal of any assets within the estate where appropriate. Where share buybacks are used to fund a liability, special treatment has also existed in the system since 1982 for shares in unquoted companies when inheritance tax could not otherwise have been paid without undue hardship.

More generally, HMRC recognises the difficulties that personal representatives may face when raising funds to pay inheritance tax and has a number of established ways to help tax payments be made. This includes the Direct Payment Scheme which can be used to transfer money electronically directly from the deceased’s account(s) to HMRC to settle the liability before probate is granted. There are also other options available if the inheritance tax cannot be paid before probate is granted, such as applying for a grant on credit. This allows payment of all or some of the tax and interest due to be postponed until after the grant of probate.

Between 1 June to 30 November 2025, HMRC processed around 600,000 VAT repayment returns that were under £1,000 in value.

HMRC are unable to confirm how many of the 162 and 119 complaints referenced in PQ answer 98773 relate to VAT refunds which are under the value of £1,000, as establishing this would exceed the cost threshold for answering parliamentary questions.

Business rates are a broad-based tax on the value of non-domestic properties, including nurseries. At the Budget, the Government announced a £4.3 billion support package announced at the Budget to support ratepayers across all sectors seeing bill increases. As a result of the Budget package, over half of ratepayers will see no bill increases. This also means most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.

In recognition of the fact they are valued differently to some other sectors, and industry bodies have highlighted concerns with how costs are accounted for in this methodology, particularly during periods of high inflation, the Government is providing additional support to pubs.

More broadly, in 2026-27, we expect to provide over £9.5 billion for the early years entitlements. We are investing over £1 billion more compared to 2025-26 to deliver a full year of the expanded entitlements and an above inflation increase to funding rates.

Outturn data for the Seafarers’ Earnings Deduction claimants is available until 2023-24; HMRC does not publish an estimate of the number of claimants for 2024-25.

HMRC’s Tax Relief Statistics published on 22 January 2026 contain a forecast of the cost of relief for 2024-25. A forecast for 2025-26 will be produced for the 2026 Autumn publication and outturn cost in the following year.

Outturn data for the Seafarers’ Earnings Deduction claimants is available until 2023-24; HMRC does not publish an estimate of the number of claimants for 2024-25.

HMRC’s Tax Relief Statistics published on 22 January 2026 contain a forecast of the cost of relief for 2024-25. A forecast for 2025-26 will be produced for the 2026 Autumn publication and outturn cost in the following year.

Outturn data for the Seafarers’ Earnings Deduction claimants is available until 2023-24; HMRC does not publish an estimate of the number of claimants for 2024-25.

HMRC’s Tax Relief Statistics published on 22 January 2026 contain a forecast of the cost of relief for 2024-25. A forecast for 2025-26 will be produced for the 2026 Autumn publication and outturn cost in the following year.

Guidance is set out in Section 1, Part 7 of the Valuation Office Agency (VOA) Council Tax manual: Council Tax Manual - Section 1: introduction and essential background - Guidance - GOV.UK

The Government recognises the important contribution that micro-businesses in the hospitality sector make to local communities, the high street and the wider economy. The potential impacts of changes on this sector are carefully considered as part of policy development.

The Government considers the impact of tax measures on these businesses. Where changes are made, relevant impact notes and assessments are published at fiscal events and otherwise as necessary, in line with the Government’s usual practice. The Treasury also engages regularly with the hospitality sector.

To protect the smallest businesses from changes to employer National Insurance Contributions (NICs) made at Autumn Budget 2024, the Government increased the Employment Allowance from £5,000 to £10,500. This means that this year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.

The Government is also supporting small businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Government continues to provide targeted support to the hospitality sector through the tax system and other policies and keeps all areas of the tax system under review, with future decisions taken at fiscal events under the normal process.

HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK.

Heavy goods vehicle tyres for buses or lorries are classified under commodity code 401120. 401190 would be used for other tyres in this subheading for example motor cars, agricultural and forestry vehicles. However, we are not able to distinguish between single-life budget tyres, and other kinds of tyres within these commodity codes.

HMRC releases imports and exports information monthly, as an Accredited Official Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).

If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.

To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

The Government is also supporting businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Call for Evidence, published at Budget, focused on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.

To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

The Government is also supporting businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Call for Evidence, published at Budget, focused on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.

To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

The Government is also supporting businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Call for Evidence, published at Budget, focused on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.

To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

The Government is also supporting businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Call for Evidence, published at Budget, focused on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.

To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

The Government is also supporting businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Call for Evidence, published at Budget, focused on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.

To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

The Government is also supporting businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Call for Evidence, published at Budget, focused on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.

To respond to those who are seeing large increases, the Government has already acted to limit increases in bills, announcing a support package worth £4.3 billion package at the Budget.

The Government is also introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.

The Government is also supporting businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Call for Evidence, published at Budget, focused on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses.

The department’s Spending Review settlement of a 10% real terms reduction to admin by 2028-29 means it will need to get smaller.

Banking is changing, with many customers benefiting from the convenience and flexibility of managing their finances remotely. However, the Government understands the importance of face-to-face banking services to communities and is committed to supporting sufficient access for customers across the country.

In addition to traditional bank branches, the financial services industry is committed to rolling out 350 banking hubs across the UK by the end of this Parliament. Over 270 hubs have been announced so far, and more than 210 are already open.

Banking hubs provide access to everyday counter services through Post Office staff, including cash withdrawals and deposits, balance enquiries and bill payments. They also contain dedicated rooms where customers can see community bankers from their own bank to carry out other banking services.

The range of services available through Post Office counters in banking hubs, including whether cheque deposits are accepted and processed, is determined by the commercial arrangements between individual banks and the Post Office. A significant number of retail banks continue to offer cheque depositing services through Post Office counters.

Where cheque depositing is not available at a hub counter for particular banks, such as Lloyds Banking Group, customers continue to have alternative options to pay in cheques. These include paying in cheques at Lloyds Banking Group branches where available, or digitally via mobile banking apps using cheque imaging technology. In addition, customers unable to travel to a bank branch, or for whom digital banking is not suitable, may submit cheques by sending them in a stamped addressed envelope via any post box or by handing them in at their local Post Office for posting.

Banks may also provide postal options for customers who are unable to travel to a branch or for whom digital banking is not suitable. Lloyds Banking Group provides a freepost address service for vulnerable customers who previously used a Post Office counter to deposit cheques, as well as for customers who have only deposited cheques through a Post Office or banking hub.

The Government continues to engage with the banking industry to improve the consistency and functionality of services provided through banking hubs, including through recent discussions with banks, Cash Access UK and UK Finance.

We are helping SMEs grow and employ more people through our largest ever injection of capital into the British Business Bank. Over the next five years, the British Business Bank will increase annual deployment by two-thirds, aiming to unlock around £26 billion of private capital alongside £13 billion in public funding, and enable up to an additional £10 billion in small business lending through guarantees.

The Government protected the smallest businesses from the changes to Employer National Insurance Contributions by increasing the Employment Allowance from £5,000 to £10,500. This means that this tax year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.

At Autumn Budget 2025, we announced that we are supporting SMEs by changing the rules to fully fund SME apprenticeships training costs for eligible people under the age of 25.

Banking is changing, with many customers benefitting from the convenience and flexibility of managing their finances remotely. However, Government understands the importance of face-to-face banking to communities and is committed to supporting sufficient access for customers in rural areas, coastal communities and across the country.

Through the Financial Services and Markets Act 2023, the Government gave the Financial Conduct Authority regulatory responsibility for access to cash. Its rules ensure cash continues to be a viable method of payment for the millions of people who depend on it by providing reasonable access to cash withdrawal and deposit facilities for individuals and businesses, including free services for personal accounts.

In addition to traditional bank branches, the financial services industry is committed to rolling out 350 banking hubs across the UK by the end of this Parliament. Over 270 hubs have been announced so far, and more than 210 are already open. Government is working closely with industry on this commitment, including through regular ministerial engagement. For example, on 8 January, I chaired a roundtable with banks, Cash Access UK and UK Finance to discuss banking hubs.

Banking hubs are allocated based on independent assessments by LINK, which consider factors such as branch closures, cash reliance and community vulnerability. The criteria also differentiate between rural and urban areas. For example, LINK applies a wider three-mile catchment area in rural locations to recognise that villages often rely on nearby market towns.

Customers can also access everyday banking services at a nearby Post Office. The Post Office Banking Framework allows personal and business customers of participating banks to withdraw and deposit cash, check their balance, pay bills and cash cheques at over 10,000 Post Office branches across the UK.  The Government protects the Post Office network by setting minimum access criteria. These include ensuring that 99% of the UK population lives within three miles of a Post Office and 90% of the population within one mile.

Beyond bank branches, banking hubs and Post Office banking services, some banks also provide points of access through initiatives such as pop-up services in libraries and community centres, or mobile banking vans serving remote areas.  The Government supports initiatives which give customers access to in-person banking, as well as digital access.

HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. However, due to the commodity codes used to identify goods being imported or exported, we are not able to distinguish between single-life budget tyres, and other kinds of tyres.

Tyres are classified to several commodity codes within Heading 4011 of the UK Tariff. It is not possible to identify single-life budget tyres within any of the commodity codes found within Heading 4011.

HMRC releases imports and exports information monthly, as an Accredited Official Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com) .

If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk

The OBR set out in their Economic and Fiscal Outlook that they do not expect a material impact on savings behaviour as a result of Budget 2025 tax changes.

This change applies to all employers who use salary sacrifice for pensions, regardless of whether they are public sector or private sector. Many public sector employers are already prohibited from using salary sacrifice for pensions under government rules of "managing Public Money".

Saving into a pension, including through salary sacrifice, remains highly tax advantageous. The Government continues to provide over £70bn of income tax and NICs relief on pension contributions each year.

A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to pensions salary sacrifice and is available online at: https://www.gov.uk/government/publications/salary-sacrifice-reform-for-pension-contributions-effective-from-6-april-2029

Visitor levies are common in Europe and the rest of the world. All other G7 countries already have some form of tourism or overnight accommodation levy in place.

On the 26^th of November 2025, the Government opened a consultation seeking views on the design of a new Mayoral power to create visitor levies on overnight stays in England. It contained questions on who will be granted this power, which powers will be devolved, the allocation and use of revenue funds, consultation and consent requirements, administration of the levy, its scope and the rate structure. The consultation closed on the 18^th of February 2026.

The Government has engaged with the tourism sector through the consultation process. Evidence from international and domestic schemes suggested modest rates have minimal impact on visitor numbers. Mayors will need to decide whether to implement a levy, and, if so, consult on specific proposals. This will inform their decisions regarding whether and how a levy will be applied and how any revenue is invested.

Visitor levies are common in Europe and the rest of the world. All other G7 countries already have some form of tourism or overnight accommodation levy in place.

On the 26^th of November 2025, the Government opened a consultation seeking views on the design of a new Mayoral power to create visitor levies on overnight stays in England. It contained questions on who will be granted this power, which powers will be devolved, the allocation and use of revenue funds, consultation and consent requirements, administration of the levy, its scope and the rate structure. The consultation closed on the 18^th of February 2026.

The Government has engaged with the tourism sector through the consultation process. Evidence from international and domestic schemes suggested modest rates have minimal impact on visitor numbers. Mayors will need to decide whether to implement a levy, and, if so, consult on specific proposals. This will inform their decisions regarding whether and how a levy will be applied and how any revenue is invested.