Blog

On 28 October 2025, the House of Commons Treasury Committee examined the taxation of the gambling industry ahead of the Budget. The committee published a report the following week calling on the government to sharpen the differentiation between physically present gambling related to horseracing or arcades, versus more harmful online games.

On 27 October 2025, the House of Lords Finance Bill Sub-Committee took evidence on proposed changes to Business and Agricultural Property Reliefs. Industry leaders warned that the changes risk creating liquidity crises, valuation disputes and emotional hardship for owners.

Major speeches from Reform UK’s leader and deputy leader this week highlighted significant developments in the party’s economic strategy, and the way forward for further policy development.

The Treasury Committee heard evidence from two former coalition government ministers – George Osborne and Vince Cable – on 5 November 2025 as part of its inquiry into the upcoming Budget. Both supported reform of property taxation and the merger of income tax and national insurance.

During a plenary session at the Senedd on 14 October, the Finance Secretary set out the Welsh government's draft spending plans and tax proposals for 2026-27. The draft Budget maintains current rates for Welsh income tax and Land Transaction Tax, changes the LTT multiple dwellings relief and increases the standard rate of Landfill Disposals Tax for 2026-27.

Leading professional bodies have warned that the government’s proposal to introduce a strict liability criminal offence for failure to disclose under the Disclosure of Tax Avoidance Schemes (DOTAS) regime risks criminalising legitimate tax planning and could have a chilling effect on the UK’s tax advisory profession.

On 28 October, during an Opposition Day debate, MPs voted down a Conservative motion advocating the abolition of Stamp Duty Land Tax (SDLT) on primary residences.

The House of Lords Finance Bill Sub-Committee brought together leading tax professionals on 20 October 2025 to examine the government’s proposed changes to agricultural and business reliefs for inheritance tax. The panel warned that the reforms would introduce significant complexity, create valuation bottlenecks and risk unintended consequences for family businesses and farms.

Leading practitioners in estate law have told peers that becoming a personal representative (executor) of an estate could become unmanageable, deterring people from taking on the role.

During a House of Commons Treasury Committee ‘Budget 2025’ session, MPs heard criticism of wealth taxes, calls for abolition of SDLT and for changes to the government’s inheritance tax proposals.