NEWS

HMRC have issued updated advisory fuel rates for business travel in company cars, which may be used from 1 June 2026. Reflecting recent increases in petrol and diesel prices, all petrol and diesel rates have increased. Electric charging rates remain...

The UK and the Isle of Man have signed a new social security agreement intended to ensure that workers and employers pay NICs in only one territory at a time. In general, contributions will be payable where the work is carried out, subject to...

Labour leadership candidate Wes Streeting has proposed a new ‘wealth tax that works’, including equalising capital gains tax rates with income tax while retaining reliefs for ‘genuine entrepreneurs and long-term investment’. Streeting said the...

The Income Tax (Exemption of Kinship Allowance Payments in Kinship Zones) Order, SI 2026/538, adds ‘kinship allowance payments’ to the list of exemptions under ITTOIA 2005 s 744, with effect from 9 June 2026. The payments arise under a pilot scheme...

Revenue & Customs Brief 5/2026 confirms that a temporary 5% reduced rate of VAT will apply from 25 June to 1 September 2026 to certain supplies of children’s meals and admissions to qualifying family attractions, theatres, cinemas, concerts,...

The UK’s double taxation conventions with Côte d’Ivoire and Bahrain have been modified by the Multilateral Instrument. Both treaties now incorporate the principal purposes test and expanded mutual agreement procedure provisions. The Bahrain treaty...

HMRC have confirmed that the UK will follow the OECD-agreed approach to the central filing and exchange of initial Pillar Two Global Information Returns (GIRs) for jurisdictions implementing Pillar Two for 2024. The guidance is relevant to groups...

HMRC have updated their statutory guidance, Notice 2: Pillar Two top-up taxes relevant territories and taxes, adding Kenya, Kuwait, Oman and the Bahamas to the lists of countries with taxes which are specified for the purposes of Multinational Top-up...

The Finance Act 2009, Sections 101 and 102 (Penalties for Non-disclosure and Promotion of Tax Avoidance Schemes) (Appointed Day) Order, SI 2026/552, brings late-payment and repayment interest provisions into force from 21 May 2026 for the purposes of...

Following the Budget 2025 announcement, HMRC have now launched advance assurance schemes for R&D tax claims. There are two options: one for a full claim, and another a pilot scheme for targeted assurance on up to two aspects of the R&D claim. Both...