NEWS

Recent developments in tax.

In a letter to James Murray, Financial Secretary to the Treasury, the CIOT has emphasised the continuing importance of consultation as part of an effective programme of tax policymaking. This follows the UK Government’s ‘Simplification and Agency of...

Chancellor John Healey has reportedly rejected calls to equalise capital gains tax and income tax rates ahead of the Budget on 28 October, although a smaller CGT increase remains possible. The Financial Times (13 October) reported the decision,...

In a letter to HMRC, the CIOT has asked HMRC to clarify changes made to the Business Income Manual at BIM45700 on 1 July 2026. That paragraph deals with the tax treatment of interest on loans which have been taken out to provide business funding...

HMRC have updated their guidance on submitting climate change levy returns to announce that returns should now be submitted online. The revised guidance covers the necessary details for online filing, and notes that the paper return remains available...

HMRC have published a technical consultation, Plastic Packaging Tax – chemical recycling and adoption of a mass balance approach, inviting views on draft regulations governing the use of a mass balance approach for chemically recycled plastic from 1...

The Low Incomes Tax Reform Group (LITRG) has urged HMRC to improve their software finder and consider usability alongside technical compatibility, warning that unrepresented taxpayers face a ‘minefield’ when choosing software for Making Tax Digital...

HMRC investigations into football clubs, players and agents yielded £110m in the year ended 31 March 2026, up 22% from £90m the previous year, according to HMRC data supplied to UHY Hacker Young. Yield from investigations into agents rose fivefold,...

As a follow-up to previous reports that HMRC had been asking agents for their agent reference number (ARN) as part of security checks when calling various HMRC helplines, the CIOT reports that HMRC are pausing their agent reference number checks...

HMRC have published a new factsheet, Prohibition of promotion of certain tax avoidance schemes – CC/FS91, covering the legislation in FA 2026 ss 159–165 which prohibits the promotion of certain tax avoidance arrangements and the civil penalties and...

HMRC have added a new section to their corporation tax general enquiries guidance to note that a single CHAPS payment can be used to pay corporation tax for more than one company for the same accounting period. HMRC describe this as a multiple or...

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