Finance Bill 2025-26: Report Stage

The government tabled the following amendments for the Report Stage of Finance Bill 2025-26, that need the following updated explanatory notes and tax information and impact note:

• Abolition of Lifetime Allowance — amendment of power to make further regulations
• Amendment 14 to clause 24: umbrella companies
• Amendments 15 to 17 to clause 63: tax to be charged on certain pension interests
• Amendments 18 to 20 to clause 64: liability for tax on pension interests
• Amendments 21 to 30 to clause 65: withholding of benefits and payment of tax by pension scheme administrator
• Amendments 31 to 33 to clause 66: connected amendments to Inheritance Tax Act 1984
• Amendments 34 to 47 to clause 67: connected amendments to income tax rules
• Amendments 48 to 52 to clause 43 and schedule 3: non-resident, and previously non-domiciled individuals
• Amendments 54 to 66 to clause 62 and schedule 12: agricultural property relief and business property relief
• New clause 5: offshore income gains
• New clause 6: offshore income gains: savings
• New clause 7:  Lifetime Allowance abolition — amendment of power to make further regulations