January 2020 / United Kingdom

The Landfill Disposals Tax (Tax Rates) (Wales) (Amendment) Regulations 2020 were made on 6 January 2020 and will come into force on 1 April 2020. The Regulations prescribe the rates for landfill disposals tax chargeable on taxable disposals made on or after 1 April 2020, as follows:

• the standard rate is GBP 94.15 per tonne;
• the lower rate is GBP 3.00 per tonne; and
• the unauthorized disposals rate is GBP 141.20 per tonne.

On 23 December 2019, HMRC published The Code of Practice on Taxation for Banks – Annual Report 2019.

On 7 January 2020, the Chancellor confirmed that the next Budget will be held on 11 March 2020.

On 13 January 2020, the Scotland's Finance Secretary announced that the Scottish Budget will be published on 6 February 2020. This announcement follows the UK government's confirmation that Budget 2020 is delayed until 11 March 2020

On 10 January 2020, HMRC announced that The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 have come into force on the same day. The Regulations update existing regulations. HMRC Guidance will also be revised accordingly.