In a written statement to Parliament, James Murray, Exchequer Secretary to the Treasury, has announced that 'Legislation Day' (L-Day) will be on Monday, 21 July 2025.
Mr Murray's statement outlines the Government's commitment to a single major fiscal event each year, through which the Budget is delivered. Following this, relevant tax policy measures will be legislated for in the Finance Bill or other appropriate legislative vehicle.
As part of this process, on 21 July 2025, we can expect the Government to publish draft clauses for the next Finance Bill, covering pre-announced policy changes.
These clauses will be accompanied by explanatory notes, tax information and impact notes, responses to consultations and other supporting documents.
Useful guides on this topic
Calendar of tax deadlines and new tax measures
When do common recurring tax deadlines fall? What other tax-significant events are upcoming? What do I need to remember this month?
Finance Acts 2025-26: tax update and Rolling Tax Planner
This rolling planner tracks the key tax announcements that impact the 2025-26 tax year and beyond. This planner is updated on an ongoing basis.
Treasury's tax policy making principles
HM Treasury has published 'Tax Policy Making Principles'. This outlines the Government's approach to the delivery of tax policy changes via a single annual Budget. It details how the Government will engage with stakeholders as tax policy develops, and confirms 'Legislation Day' (L-Day) can be expected in the summer.
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