NEWS

HMRC are reducing their late-payment and repayment interest rates, following the Bank of England’s decision in December 2025 to cut bank base rate by 0.25 percentage points to 3.75%. For most taxes and payments, the late-payment interest rate will be...

In December 2025, the CIOT and ATT highlighted that trusts, companies and partnerships classed as reporting financial institutions under CRS or FATCA were required to register with HMRC by 31 December 2025, even where no reporting was due (SI...

HMRC report that more than 37,000 taxpayers filed their self-assessment tax returns between 24 and 26 December 2025. Christmas Eve saw the peak of the festive flurry of activity, with 22,350 returns submitted, while 10,479 were filed on Boxing Day...

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

Tax Journal thanks its authors for December (click on links below to view author profiles and access their contributions):Imran Afzal KC - reflections on a career in taxZoe Andrews and Nadia Hourihan - That was the year that was 2025Helen Coward,...

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

Finance Bill 2026 was published on 4 December 2025. With 279 clauses and 23 Schedules, the Bill has formally been introduced under the title ‘Finance (No. 2) Bill’, as the second Finance Bill to have been issued in the 2024–2026 session of...

Alongside the Budget announcement, HMRC published Revenue & Customs Brief 7/2025 setting out their revised position on the VAT on intra-entity services involving establishments located in an EU Member State that are part of a UK VAT group. HMRC’s...

Alongside the Budget announcement, HMRC published Revenue & Customs Brief 8/2025 to explain the proposed changes to the tour operators’ margin scheme (TOMS). The Brief confirms that supplies by private hire vehicle or taxi operators, confirms that...

The Landfill Disposals Tax (Tax Rates) (Wales) (Amendment) (No. 2) Regulations, SI 2025/1281, will set out the standard rate, lower rate and unauthorised disposals rate for landfill disposals tax chargeable on taxable disposals made on or after 1...