HMRC manual changes: 9 May 2025

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

Direct taxes

Manual	Page	Comments
Business Income Manual	Updated: BIM15050	Guidance updated to reflect the replacement of the basis period rules with taxation of profits arising in the tax year for the 2024/25 tax year onwards with transitional rules applying in 2023/24. Includes links to further guidance on the new regime and the transitional rules.
	Updated: BIM47825	Guidance updated to state that it explains what expenses are allowable for income tax purposes when a self-employed individual carrying on a trade uses part of their home for trade purposes. It does not apply to home use by an employee or director (for which see EIM32760).
Capital Allowances Manual ...

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This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

Direct taxes

Manual	Page	Comments
Business Income Manual	Updated: BIM15050	Guidance updated to reflect the replacement of the basis period rules with taxation of profits arising in the tax year for the 2024/25 tax year onwards with transitional rules applying in 2023/24. Includes links to further guidance on the new regime and the transitional rules.
	Updated: BIM47825	Guidance updated to state that it explains what expenses are allowable for income tax purposes when a self-employed individual carrying on a trade uses part of their home for trade purposes. It does not apply to home use by an employee or director (for which see EIM32760).
Capital Allowances Manual ...