Indirect tax news from the past week
16 March 2026
Finance Bill: Update
The remaining Commons stages of Finance (No. 2) Bill 2024-26 took place on 11 March 2026. During the Report Stage debate, the only amendments accepted were those tabled by the government last week. MPs then voted to give the Finance Bill its Third Reading. The Bill has now moved to the House of Lords where it had its First Reading on 12 March 2026. The Lords’ version of the Finance Bill, reflecting all amendments made during the Bill’s passage through the House of Commons, has been published. This will effectively be the text of Finance Act 2026, as the Lords cannot change the Bill. The House of Lords has provisionally scheduled its Second Reading and remaining stages for Tuesday 17 March 2026, after which the Bill will be sent for Royal Assent. (Contact: Donna Huggard)
Uncertain tax treatment regime: HMRC consultation
On 12 March 2026, HMRC published a consultation on proposed changes to extend the uncertain tax treatment (UTT) regime. The consultation seeks views on the government’s proposals to bring individual taxpayers and trusts within the scope of UTT; extend the taxes within scope to include stamp duty land tax, national insurance contributions, payments under the construction industry scheme, capital gains tax, and inheritance tax; and introduce a new ‘trigger’. The new ‘trigger’ would capture situations where there is more than one credible legal interpretation and HMRC’s view is not known. The government intends that any legislation will be introduced in the next available Finance Bill and apply to returns filed after 1 April the following year. The consultation closes on 4 June 2026. (Contact: Andrew Clarke)
EU CBAM: Publication of CBAM certificate price
From February 2027, importers of goods subject to the EU’s carbon border adjustment mechanism (CBAM) will be required to buy CBAM certificates to cover their 2026 imports. From 2027, the European Commission will calculate a weekly price, but for 2026, the price of certificates will be calculated as the quarterly average of the EU emissions trading scheme (ETS) auction clearing prices of allowances. The European Commission has announced that the first CBAM certificate price will be published on 7 April 2026. Each quarter’s price will be calculated during the first calendar week of the following quarter, and published on the first working day of the week following calculation. Accordingly, the other 2026 certificate prices will be published on: 6 July 2026, 5 October 2026, and 4 January 2027. Publication will take place on the European Commission’s CBAM webpage and in the CBAM registry. (Contact: Zoe Hawes)
This week’s CJEU VAT case calendar
On 19 March, there will be a judgment in Oblastní nemocnice Kolín on whether VAT incurred by a hospital on certain licensing costs can be attributed to overheads.
Dbriefs webcast
On Wednesday, 1 April at 12.00, there will be a webcast on Responding to Labour Supply Chain Fraud Risks. Recent years have seen a rise in labour supply chain fraud, in particular relating to VAT and employment taxes frauds. Our Deloitte presenters will be joined by speakers from HMRC to discuss how the fraud can arise, consequences for businesses, what businesses can do to reduce the risk, and the actions being taken by HMRC.