NEWS

HMRC have updated the ‘signing up’ section of their Use Making Tax Digital for Income Tax guidance, to cover the appointment of more than one agent, giving an example of a bookkeeper who deals with quarterly submissions (the supporting agent) and an...

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

Responding to general speculation that the 2025 Autumn Budget will need to include tax increases, following the UK Government’s recent reversal of plans to save money through welfare reform, the Institute for Fiscal Studies (IFS) pours hot water on...

Draft legislation for Finance Bill 2026 is to be published on Monday 21 July 2025, James Murray, Exchequer Secretary to the Treasury, has announced in a written statement. This will cover ‘pre-announced policy changes’. Explanatory notes, tax...

In a joint letter to the Scottish Government and HMRC, the CIOT and ICAS outline a number of points to consider in relation to the potential VAT treatment of the Scottish Visitor Levy, which is expected to be introduced locally from around mid-2026...

President Trump signed the One Big, Beautiful Bill Act into law on 4 July. The retaliatory measure set out in section 899 was removed after the G7 reached a shared understanding regarding US exemption from the Pillar Two global minimum tax rules....

The Multinational Top-up Tax (Pillar Two Territories, Qualifying Domestic Top-up Taxes and Accredited Qualifying Domestic Top-up Taxes) (Amendment) Regulations, SI 2025/783, allow HMRC to specify Pillar Two territories and overseas domestic top-up...

Responding to HMRC’s consultation on improving HMRC’s approach to dispute resolution, the CIOT sets out its support for the alignment of appeals processes across direct and indirect taxes, thus helping reduce confusion and misunderstanding caused by...

The CIOT has also responded to HMRC’s consultation on transfer pricing, permanent establishment and diverted profits tax which closed on 7 July. On transfer pricing and the general exemption for UK, the UK transfer pricing is considered a positive...

HMRC data suggests that the number of real estate investment trusts (REITs) in breach of the conditions for their special tax status has nearly quadrupled over the last year, according to analysis by law firm BCLP (Bryan Cave Leighton Paisner). The...