Coming up
- Mandatory e-invoicing for UK B2B and B2G sales
Announced at Autumn Budget 2025. Not yet law. Some summaries say April 2026, which is wrong. Source - Next Bank of England rate decision
If Bank Rate moves, HMRC late payment and repayment interest follow a few weeks later. We update the interest tables the day HMRC publishes. Source
Already in force
- Capital Goods Scheme threshold for land and buildings rises to £600,000
Computers and computer equipment leave the scheme. Items already in it stay until their adjustment period ends. Source - EU ends the €150 customs duty exemption
A flat €3 duty now applies per item (per tariff line) on low-value e-commerce imports into the EU until 1 July 2028. Source - New fuel scale charges for 2026 to 2027
Use the new table for VAT periods starting on or after 1 May 2026. Source - HMRC late payment interest falls to 7.75%
Repayment interest falls to 2.75%, after Bank Rate was cut to 3.75% on 18 December 2025. Source - Autumn Budget 2025: no change to VAT rates or the £90,000 threshold
Taxis and private hire left the Tour Operators Margin Scheme from 2 January 2026. A new relief for business donations of goods to charity started on 1 April 2026. Source - Late payment interest becomes Bank Rate plus 4%
Up from Bank Rate plus 2.5%. Source - VAT late payment penalties go up
First penalty 3% at day 15 and 3% at day 30 (was 2% and 2%). Second penalty 10% a year from day 31 (was 4%). Source - VAT on private school fees
Education and boarding services from private schools became standard rated at 20%. Source - Registration threshold rises to £90,000
Deregistration threshold rises to £88,000. Both have stayed there since. Source
What has not changed
The standard rate has been 20% since 4 January 2011. The registration threshold has been £90,000 since 1 April 2024 and the Autumn Budget on 26 November 2025 left both alone. Stories in 2025 about the threshold rising to £100,000 did not come true.