Scope: Global
Status requires verification
UK Finance Bill 2025-26 to require registration for tax advisers who interact with HMRC
As part of Budget 2025, HMRC will introduce legislation in Finance Bill 2025-26 to mandate that tax advisers who interact with HMRC on behalf of clients must register and meet minimum standards. This measure is **enacted** via the Finance Bill and will become effective in **May 2026**, increasing accountability in tax advice provision. ([gov.uk](https://www.gov.uk/government/publications/budget-2025-overview-of-tax-legislation-and-rates-ootlar/budget-2025-overview-of-tax-legislation-and-rates-ootlar?utm_source=openai))
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- May 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
CRA’s 2026-27 Departmental Plan: Automatic Filing & Modernization
In its 2026-27 plan, CRA announced that it will begin automatic tax filing for low-income Canadians for the 2026 tax year (starting in 2027), progressively expanding to about 5.5 million people by the 2028 tax year. Also includes integrating AI in fraud detection, tax debt management, and compliance; improvements in service delivery and reducing administrative and compliance burdens. These changes will affect how taxpayers file returns, access benefits, and comply with tax obligations, especially for those with simple tax situations.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- May 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS announces tax relief for taxpayers impacted by severe storms, straight-line winds, flooding, landslides, and mudslides in Washington; various deadlines postponed to May 1, 2026
Under section 7508A, the IRS is postponing many tax filing and payment deadlines to May 1, 2026 for individuals and businesses (including corporations, estates, trusts, partnerships, S corporations, tax-exempt organizations) located in covered disaster areas of Washington state. Estimated tax payments originally due on or after December 9, 2025 are delayed to May 1, and penalties for late payments will be abated.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- May 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS Announces Tax Relief for Taxpayers Impacted by Severe Storms and Flooding in Montana — Various Deadlines Postponed to May 1, 2026
The IRS has postponed multiple filing and payment deadlines to May 1, 2026 for individuals and businesses in counties affected by severe storms and flooding beginning December 10, 2025. This includes federal individual and business returns, IRA and health savings account contributions, estimated tax payments due January 15 and April 15, payroll and excise tax returns due February 2 and April 30, and applies to specific Montana counties and the Blackfeet Indian Reservation.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- May 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Treasury and IRS issue temporary regulations on recovering federal excise tax paid on dyed fuel established under the One, Big, Beautiful Bill
These temporary regulations under IRC §6435 (effective May 1, 2026) allow taxpayers who previously paid excise tax under §4081 on diesel or kerosene fuel, later removed as eligible dyed fuel for nontaxable use, to claim payment (without interest). Eligibility requires original tax payment, removal from approved terminal on or after Dec 31, 2025, and use of updated IRS forms (Form 8849, Schedule 5). Temporary rules expire by May 1, 2029 unless superseded. Implications include refund opportunities for sectors using dyed fuel (e.g. agricultural, off-highway use) and stricter documentation and timing requirements.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- May 1, 2026
- Verification
- Not recorded
Open cited source
Scope: USA
Status requires verification
IRS tax relief for taxpayers impacted by severe storms in Washington State: deadlines postponed to May 1, 2026
The IRS has granted an extension for filing most tax returns, paying estimated taxes, and other time-sensitive tax actions for individuals and businesses in designated disaster areas of Washington State. Deadlines originally due before May 1, 2026 (including payments due on or after December 9, 2025) are postponed, and penalties for timely payments under the extension will be waived. Certain returns and payments—such as information returns (W-2, 1099, etc.) and excise taxes—are excluded.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- May 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Retirement boost of £29,000 awaits millions as landmark Pension Schemes Act becomes law
The Pension Schemes Act 2026, receiving Royal Assent on 29 April 2026, introduces major reforms: automatic consolidation of small pension pots, a value-for-money regime for pension schemes, creation of megafunds, and new powers for DB schemes to release surplus funds—estimated to give savers up to £29,000 more over their lifetime.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 29, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Making the Employee Ownership Trust Capital Gains Exemption Permanent
The Spring Economic Update 2026 proposes making permanent the $10 million capital gains exemption for qualifying dispositions of shares to an Employee Ownership Trust or worker cooperative corporation. Previously temporary for 2024-2026, this change impacts business owners planning succession and wealth transfer, allowing long-term certainty for structuring sales to EOTs.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Expansion of Disability Tax Credit Certification and Supports
The policy broadens who can certify impairments for DTC purposes (e.g. adding occupational, speech-language, and physiotherapists, plus podiatrists), proposes updated criteria for cumulative impairments, and increases funding and relief over coming years to improve access to support payments.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Spring Economic Update 2026: Employee Ownership Trust Exemption made permanent
The Canada government confirmed in the Spring Economic Update (April 28, 2026) that the capital gains exemption for qualifying dispositions to an Employee Ownership Trust will no longer be temporary (2024-26), but permanent, enabling business owners to plan long-term for share transfers to employee ownership without losing this benefit.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Employee Ownership Trust Tax Exemption made permanent
The government has made permanent the Employee Ownership Trust tax exemption, which allows individuals selling their business to an EOT or worker cooperative to claim an exemption from taxation on up to $10 million in capital gains, subject to certain conditions. This supports ownership transfer and employee participation models. Included in the Update’s tax measures as confirmed by the Department of Finance. ([budget.canada.ca](https://budget.canada.ca/update-miseajour/2026/report-rapport/tm-mf-en.html?utm_source=openai))
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Making the Employee Ownership Trust Tax Exemption permanent
A temporary capital gains tax exemption (up to $10 million) on sales of a business to an Employee Ownership Trust (or worker cooperative corporation) first introduced in the 2023 Fall Economic Statement (covering tax years 2024-2026) will be made permanent under the Spring Economic Update 2026. This supports business succession planning and employee ownership opportunities.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Investment Tax Credit for Carbon Capture, Utilization and Storage (CCUS) & Accelerated CCA for LNG Facilities
Budget 2026 confirms that the **CCUS tax credit** will remain refundable at varying rates depending on purpose (60%, 50%, 37.5%) for expenditures incurred from start of 2022 through end of 2035. Also confirms **accelerated capital cost allowance rates for low-carbon LNG facilities**. These measures are effective as of the date the Spring Economic Update was presented. ([budget.canada.ca](https://www.budget.canada.ca/update-miseajour/2026/report-rapport/tm-mf-en.html?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Accelerated CCA for Low-Carbon LNG Facilities & EOT Exemption
From the Spring Economic Update issued April 28, 2026, Canada confirmed its intention to implement accelerated capital cost allowance rates for eligible low-carbon LNG equipment and related buildings. Also made permanent was the Employee Ownership Trust exemption, allowing businesses to set up EOTs with favorable tax treatment. These are part of broader tax measures to promote clean economy investments, employee share ownership, and stimulus in capital-intensive sectors. Effective dates vary; these are proposed or implementing measures as of the 2026 fiscal update. Status: Effective/Enacted. Impact: Medium-High.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026’s Key Measures: Spring Economic Update 2026 Builds on Budget 2025
The Spring Economic Update 2026 includes key tax-measures: reducing the CPP base contribution rate from 9.9 % to 9.5 % effective January 1, 2027; temporarily suspending the federal fuel excise tax on gasoline, diesel and aviation fuels until Labour Day; and repealing the 100 % surtax on imported electric vehicles (EVs) from China effective March 1, 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Key Measures
The federal government announced several tax policy changes in Spring 2026, including permanent tax exemptions, excise duty adjustments, disability tax credit expansion, and benefit reforms aimed at improving affordability and economic competitiveness.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Spring Economic Update 2026: Employee Ownership Trust Tax Exemption made permanent; Excise-Tax measures on fuel suspended
The Spring Economic Update, tabled April 28, 2026, proposes making permanent the Employee Ownership Trust (EOT) exemption for up to $10 million in capital gains when selling a business to an EOT or worker cooperative. Also, legislative proposals to temporarily suspend all federal excise tax on gasoline, diesel, unleaded aviation gasoline, and aviation fuel from April 20 to September 7, 2026, to reduce fuel costs. Additionally, a proposal to reduce the base Canada Pension Plan contribution rate starting January 1, 2027, from 9.9% to 9.5% (self-employed rate accordingly adjusted).
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Chapter 1 — Building Canada: All for Canada
Among measures to support investment, productivity, and growth, the government proposes to make Enhanced Oil Recovery (EOR) eligible under the Carbon Capture, Utilization and Storage (CCUS) tax credit, effective the day of the Spring Economic Update 2026. Also, the CRA will prioritise advance income tax rulings for nation-building projects (housing, infrastructure, clean economy). This enhances certainty for large investments.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 28, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Measures to fight financial crimes
New measures proposed in Spring Economic Update 2026: creation of the Financial Crimes Agency for tackling sophisticated financial crimes like fraud and money laundering (legislation tabled April 27, 2026); proposed funding of $17.9 million to FINTRAC to prioritize detection of illicit financing supporting extortion; ban on crypto ATMs to reduce fraud risks; development of Canada's first National Anti-Fraud Strategy; amendments via Bill C-15 to Bank Act adding consumer protections regarding fraud, transaction limits, and account capabilities.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 27, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS announces new option for certain taxpayers to request more time after Employee Retention Credit (ERC) claim disallowance
IRS announced on April 27, 2026 a new process for taxpayers who received Letter 105-C or 106-C disallowing an ERC claim and have six months or less remaining on the statutory two-year deadline under IRC §6532(a). Eligible individuals can submit Form 907 via IRS-online tools (CP320B and Document Upload Tool) to extend the period to file suit or resolve administratively, preserving refund rights.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 27, 2026
- Verification
- Not recorded
Open cited source