HM Treasury in the news

HM Treasury and the PRA clarified tax rules and redomestication processes for UK captives, stating no special tax incentives and outlining legislative needs for PCC structures.

HM Treasury selected six banks, including Barclays and HSBC, to manage the pilot sale of its first digitally native government bond, DIGIT, aiming to test distributed ledger technology in sovereign debt by Q1 2027.

The UK government appointed six banks to pilot a blockchain-based 'digital gilt' issuance by early 2027 to modernize sovereign debt using distributed ledger technology.

The UK Treasury appointed six banks, including Barclays, Morgan Stanley, and HSBC, to manage the pilot issuance of digital gilt instruments by early 2027.

The UK government has appointed six firms as Joint Lead Managers for DIGIT, its first digitally native government bond pilot, to explore distributed ledger technology in bond issuance and enhance digital finance competitiveness by Q1 2027.

HM Treasury selected six banks, including Barclays and HSBC, to manage DIGIT, the UK's first digitally native government bond, with a pilot expected by Q1 2027.

The UK government has appointed six banks to lead the issuance of its first digitally native government bond, DIGIT, which will use DLT for its pilot by Q1 2027 to explore its use in sovereign debt markets.

The UK is proactively establishing itself as a global leader in digital assets by implementing a comprehensive strategy that includes regulatory frameworks, digital sovereign issuance, and the development of digital capital markets.

NS&I has raised interest rates on its British Savings Bonds, now offering up to 5.17% on a five-year fixed-term account, backed by HM Treasury, though higher rates are available elsewhere.

The UK government has appointed six banks to lead its inaugural digital gilt issuance, DIGIT, aiming for a Q1 2027 pilot to test blockchain technology benefits in sovereign debt.

The article discusses the significant influence of the Office for Budget Responsibility (OBR) on the UK's economic narrative, particularly in the context of Andy Burnham's upcoming Budget.

The 2012 Budget received mixed reactions, with some praising tax cuts and urban investments, while others criticized its impact on rural areas, the poor, and women, and its perceived lack of a clear industrial strategy.

The UK government implemented a VAT cut on electricity bills from October 5, 2026, to reduce household energy costs by about 45 annually, as part of broader cost-of-living initiatives and long-term energy reforms.

HM Treasury confirmed that no tax incentives will be provided for UK captives, which will be taxed like other insurance undertakings, as clarified in a PRA roundtable discussion.

Lea Paterson CBE and Matthew Tobin have been appointed to the Financial Conduct Authority Board, effective October 2026, bringing extensive experience in regulation and financial law.

The UK is clarifying its cryptoasset regulations with new draft laws and guidance from HM Treasury and the FCA, detailing how stablecoins and various crypto activities will be regulated.

HM Treasury is consulting on updating payment regulations to accommodate new forms of digital money, stablecoins, and AI-driven payments, with the deadline for responses approaching on October 6, 2026.

The Chancellor announced a package to boost jobs, apprenticeships, and skills development, including investments from the National Wealth Fund and Rolls Royce, and the restoration of the Union Learning Fund.

HM Treasury and the FCA are updating cryptoasset regulations in the UK, with new draft legislation and perimeter guidance clarifying rules for stablecoins and other crypto activities.

The Chancellor announced job creation, skills development, and investment in manufacturing and apprenticeships across the UK.