UK Government Temporarily Doubles Bank Corporate Tax Surcharge
Treasury chief John Healey said the government will temporarily double the surcharge applied to banks, as announced in the UK budget on October 28, 2026.
In the UK budget announced on October 28, 2026, Treasury chief John Healey stated that the government will temporarily double the corporate tax surcharge applied to banks. This policy shift is intended to help the country navigate global economic challenges. As a major UK-based financial institution, NatWest Group is directly affected by this regulatory change to its tax obligations.