What are the latest regulatory and legislative key dates?

Read our summary to keep up to date with the latest regulatory and legislative key dates from now and into the future.

Item Date (if known) Definite or expected?
Insurance premium tax rate increases from 9.5% to 10% 1 October Definite
Conservative Party Conference 2 – 5 October Definite
EIOPA consultation on technical advice for the IDD closes 3 October Definite
FCA consultation paper (CP 16/22) ‘Pension Wise standards: changes for secondary annuity market guidance’ closes 4 October Definite
DWP consultation ‘NEST – Evolving for the future’ closes 5 October Definite
HMRC consultation on Part surrenders and part assignments of life insurance policies and draft legislation in Finance Bill 2017 closes 5 October Definite
HMT deadline for Autumn Statement Submission 7 October Definite
Parliament returns 10 October Definite
HMRC consultation ‘Strengthening Tax Avoidance Sanctions and Deterrents closes 12 October Definite
SNP Party conference 13 – 15 October Definite
HMRC consultation on ‘Salary sacrifice for the provisions of benefits in kind’ closes (excludes workplace pensions) 19 October Definite
HMT consultation ‘Introducing a pension advice allowance’ closes 25 October Definite
FCA consultation (CP 16/19) on MiFiD (“CP 2”) closes 28 October Definite
Independent review of State Pension Age, led by John Cridland, interim findings published October Expected
DWP publishes a new Pensions Bill (covers new Master trust governance rules, new guidance body and early exit charges for occupational pension schemes) October Expected
HMT/FCA consults on the regulatory permissions for firms wishing to purchase annuities October Expected
HMT/FCA consults on the advice requirement for those who want to sell annuities October Expected
HMT/ HMRC publishes the Lifetime ISA Bill and the FCA consults on its regulatory requirements October Expected
DWP to consult on a ban on existing commission related charges for occupational pension schemes October Possible
Item Date (if known) Definite or expected?
HMRC’s 6 consultations on ‘Making tax digital’ close 7 November Definite
DWP’s consultation ‘Valuing pensions for the advice requirement and introducing new consumer protections’ closes 7 November Definite
Parliament rises 8 November Definite
DWP consultation on draft PPF (Modification) (Amendment) Regulations 2017 closes (long service cap) 9 November Definite
Parliament returns 14 November Definite
HMT consultation ‘Amending the definition of financial advice’ closes 15 November Definite
Autumn Statement 23 November Definite
(FAMR) Financial Advice Working Group to publish a shortlist of potential terms to describe “guidance” and “advice” Autumn Expected
FCA Policy Statement on Smarter Communications: Removing certain ineffective requirements in our Handbook (PS to CP15/32) Autumn Expected
HMT responds to the Public Financial Guidance review and publishes an implementation timetable Autumn Expected
HMT consults on the reform of corporation tax loss relief Autumn Expected
HMT consults on modernising tax collection for businesses, the self-employed and landlords (implementation 2018) Autumn Expected
FCA to consult on certain (conduct) changes to its Handbook resulting from MiFiD II (‘CP 3’) Autumn Expected
HMT to consult on the categories of assets that can be held in investment bond wrappers without incurring an annual tax charge Autumn Expected
Office of tax simplification review of income tax and national insurance alignment (phase 2) findings to be published in advance of the Autumn Statement Autumn Expected
Item Date (if known) Definite or expected?
HMRC published the draft Finance Bill 2017 5 December Definite
Parliament rises 20 December Definite
PRIIPs regulations and technical standards published By 31 December Possible
FCA review of FSCS funding model By end of 2016 Expected
(FAMR) FCA to consult on new guidance to support firms offering services that help consumers making their own investment decisions without a personal recommendation. Late 2016 Expected
(FAMR) FCA to consult on guidance for streamlined advice Late 2016 Expected
FCA completes its Annuity Sales Practices Review Q4 2016 Expected
FCA publishes policy statements to CP16/13 on the secondary annuity market Q4 Expected
DWP and FCA jointly review industry-wide progress in addressing and remedying poor value schemes and publish a report 31 December Expected
GMP equalisation legislation in place 2016 or later Possible
Item Date (if known) Definite or expected?
Parliament returns 9 January Definite
HMRC consultation on the draft Finance Bill 2017 closes 30 January Definite
Independent review of State Pension Age, led by John Cridland, to submit recommendations to the DWP By January 2017 Expected
FCA publishes its MiFiD II policy statement to Consultation Paper II CP16/19 Early 2017 Expected
(FAMR) – FCA and TPR to develop and promote a new factsheet to set out what help employers and trustees can provide on financial matters without being subject to regulation. Early 2017 Expected
(FAMR) – Financial Advice Working Group to complete work with employers to develop and publish a guide to the top ten ways to support employees’ financial health. Early 2017 Expected
(FAMR) HMT to implement change to definition of regulated advice under the Regulated Activities Order (RAO) so that it is based upon a personal recommendation Early 2017 Expected
British government activates Article 50 allowing Brexit negotiations to begin Early 2017 Possible
FCA cap on exit fees for people with contract-based schemes accessing the pension freedoms (for over 55s) 31 March Expected
(FAMR) Financial Advice Working Group to lead a task force to design and test a set of rules of thumb and nudges. These should include timely prompts for people to consider their financial position, and rules of thumb to give people a steer on simpler needs. Q1 Expected
Deadline for applying to HMRC for Individual Protection 2014 5 April Definite
Removal of NEST’s contribution cap and bulk transfer ban 6 April Definite
Introduction of the Lifetime ISA 6 April Definite
Income tax personal allowance increases to £11,500 pa 6 April Definite
Higher rate tax band increases to £45,000 pa (for rUK, not necessarily for Scottish taxpayers) 6 April Definite
ISA allowance increases to £20,000 6 April Definite
The Scotland Act 2016 allowing different income tax rates and thresholds effective power comes into force 6 April Definite
Ability for people to sell on their annuity to a third party 6 April Definite
Interest from OEICs, authorised unit trusts and investment trust companies can be paid without a tax deduction 6 April Expected
Employer arranged pension advice allowance increases from £150 to £500 income tax and national Insurance relief 6 April Definite
Personal advice allowance £500 for DC savers to access pre-retirement advice 6 April Definite
From PS16/12: Projections including guarantees (transitional available immediately) become effective 6 April Definite
PPF new long service compensation cap effective 6 April Definite
Automatic enrolment staging dates start for new employers set up since 1 April 2012 1 May Definite
Government to publish its final report in response to the Independent review of State Pension Age May Expected
FCA publishes its policy statement on MiFiD II consultation paper I in response to CP15/43 Half 1 Expected
Effective date of Pensions Regulator’s new powers to monitor Master trusts October 2017 Expected
DWP to set a cap on exit fees for members of trust-based schemes accessing the pension freedoms (for over 55s) During 2017 Expected
FCA publishes its ‘Strategy on the Ageing Population’ including recommendations on how the industry can improve customer outcomes Summer 2017 Expected
DWP review of automatic enrolment, NEST price cap, DC workplace charge cap and transactional charges 2017 Definite
FCA carries out a review of IGC effectiveness 2017 Definite
New UK Money Laundering regulations (transposition of the 4th EU Money Laundering Directive) 2017 Expected
HMRC new digital channel for submitting ‘Relief at Source’ annual submissions 2017 Expected
FCA publishes its report on the competitive market study of UK asset management Early 2017 Expected
FCA completes its Retirement Outcomes Review Q4 Expected
Item Date (if known) Definite or expected?
Final MiFID ll / MiFiR rules effective 3 January Expected
End of employer pension staging period 1 February 2018 Definite
Increase in statutory minimum pension contributions to 5% (employer & employee) 6 April 2018 Definite
Introduction of the Help to Save Scheme By 6 April 2018 Definite
Class 2 National Insurance Contributions abolished for the self-employed and Class 4 NICs reformed April 2018 Definite
Indexation of the Lifetime Allowance in line with the CPI 6 April 2018 onwards Definite
Final date for pensions providers to implement systems to calculate the correct amount of Relief at Source (RAS) in respect of the Scottish Rate of Income Tax (SRIT) April 2018 Definite
UK implementation of the EU Data Protection Regulations, as per the EU Directive 15-25 May 2018 Definite
State Pension Ages equalise at age 65 November 2018 Definite
State Pension Ages rises to age 66 in stages 2018 – 2020 Definite
Implementation of IORP 2 2018 Expected
HMT commits to ensuring the pension industry launches a pensions dashboard By 2019 Expected
Full statutory minimum pension contributions for employers and employees of 8% 6 April 2019 Definite
Help to Buy ISA closed to new savers (and to new contributions from 2029) 30 November 2019 Definite
Corporation tax reduces to 17% 1 April 2020 Definite
Government’s long term care funding package starts April 2020 Expected
Triple lock increases to the Basic and New State Pensions ends 2020 Possible
State Pension Ages rises to age 67 in stages 2026 - 2028 Definite
Minimum pension age rises to age 57 2028 Possible