United Kingdom tax judgments and law updates
Judgments, legislation and official guidance, summarised in plain English with what each one means in practice. Last updated .
Autumn Budget 2026: bank surcharge doubled, VAT for online marketplace sellers
Chancellor John Healey's first Budget temporarily raises the bank corporation tax surcharge from 3% to 6% for 15 months from January, on top of the 25% main rate. Online marketplace sellers are to be brought into VAT, machine games duty rises from 20% to 25%, the cash ISA limit stays at £20,000, and the small-business rates relief threshold for retail, hospitality and leisure rises from £12,000 to £18,000.
What it means: UK-facing sellers on Amazon, eBay and similar platforms should prepare for VAT once the start date is published.
UKBudgetHM TreasuryHMRC wins £22.5m dispute over trading fund profit-sharing structure
The Supreme Court sided with HMRC against HFFX, a currency-trading fund that had been structured so profits shared with traders bore corporation tax at 24% rather than income tax. The Court held the profits were taxable at 45% income tax.
What it means: Remuneration routed through corporate or partnership structures is increasingly treated as employment income — review similar arrangements.
UKJudgmentUK Supreme Court
Summaries are prepared from published orders and reports for general information. They are not legal advice.