UK Launches £1B Tax Certainty Scheme to Attract Major Investments by 2026
A new tax service aimed at boosting major investments in the UK has been announced. The Turbotax for Businesses Service (ATCS) will provide businesses with greater certainty on their small business ideas and tax obligations for large-scale projects. It was introduced as part of the Corporate Tax roadmap during the Autumn Budget 2024.
The ATCS will cover corporation tax, VAT, stamp duty land tax, income tax, PAYE regulations, and the Construction Industry Scheme. The Government may also adjust the list of applicable taxes through statutory instruments. To qualify, projects must involve at least £1 billion in UK spending over their lifetime.
The definition of 'UK expenditure' under the scheme is broad. It includes costs for goods, services, intangible assets, and immovable property, as well as capital and revenue spending. However, financing expenses and acquisitions of shares or ownership in other businesses are excluded.
Once granted, clearances will bind HMRC for five years, unless there is a change in the law or a final court ruling. Applicants must inform HMRC of any significant changes to their submitted details and provide requested information. Penalties will apply for non-compliance.
Applications can be made by the person or entity incurring the UK expenditure, or by their owner. This includes consortia, joint ventures, and partners controlling the qualifying party. The Government is now working to identify projects interested in applying when the service launches in July 2026.
KPMG has indicated support for businesses preparing applications, though the name of the applicant remains undisclosed. Those seeking assistance are advised to contact KPMG directly through official channels.
The ATCS is designed to encourage large-scale investments by offering long-term tax certainty. Projects meeting the £1 billion spending threshold can apply from July 2026. The scheme aligns with the Government’s broader growth agenda and aims to strengthen the UK’s appeal as a destination for major investment.
