Withholding of tax for rewards received under the Strengthened Reward Scheme (tax information and impact note)

HMRC tax information and impact note (13 Jul 2026) on withholding income tax at the 45% additional rate from Strengthened Reward Scheme rewards (new s.974A ITA 2007), effective from Royal Assent to Finance Bill 2026-27; restates scheme rules (over £1.5 million recovered, up to 30%, excluding penalties and interest; already recorded); current law (s.26 CRCA 2005, rewards taxable as trading or miscellaneous income). Exchequer impact table prints 'Nil' for 2025-26 to 2030-31 for the withholding mechanism (a word, not recorded as 0; the scheme's own costing is in the policy costings document); no operational cost. The event was already recorded; this pass adds the 45% withholding as a proposed rule (tax_withheld_pct).