NEWS

The CIOT and ATT have opposed HMRC’s proposal to require businesses and employers to pay VAT and PAYE return liabilities by direct debit. The CIOT considers that payment methods should remain a matter of choice. The ATT says most taxpayers already...

The CIOT broadly supports standardised ICTS reporting to improve HMRC’s transfer pricing risk assessment and welcomes the more proportionate reporting template. However, it calls for clearer regulations and guidance, closer alignment with existing...

Tax Journal thanks its authors for July (click on links below to view author profiles and access their contributions).

The GAAR Advisory Panel has published Opinions on two sets of IHT planning arrangements based around gifts of shares to employee trusts. The first involved shares in a family investment company. Shortly before death, the deceased, who was the...

The CIOT and ATT have written separately to James Murray following his appointment as Financial Secretary to the Treasury, setting out priorities for improving tax policy and administration. Murray was appointed to the role on 21 July 2026. CIOT...

HMRC have reminded in-scope businesses to submit information returns by 31 July 2026 to avoid late-filing penalties. Updated guidance confirms that a return failing HMRC’s validation checks must be resubmitted. If the replacement passes validation...

The ATT has urged HMRC not to proceed with their proposed reforms to the timing of self-assessment payments, whether for taxpayers who also have PAYE income or those whose income is wholly or mainly within self-assessment. It warns that the changes...

Revenue & Customs Brief 5/2026 provides guidance on the temporary reduced rate of VAT for children’s meals, tickets and family attractions. There are new sections on: ‘Sales through agents, tour operators and ticket platforms’: confirming that the...

HMRC have issued ‘one to many’ letters to businesses operating prize draws with paid and free entry routes, stating that prize draws are not exempt from VAT, and so paid entries are subject to VAT at the standard rate. Peter Williams, Indirect Tax...

The Treasury has made two sets of regulations governing the administration and introduction of the UK Carbon Border Adjustment Mechanism (CBAM), which takes effect on 1 January 2027. The Carbon Border Adjustment Mechanism (Administrative Provisions)...