NEWS

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

A record number of late-filing and late-payment penalties were overturned on appeal in 2024/25, according to data obtained by Price Bailey, with 46,266 cancelled compared to 35,876 in the previous tax year. The firm notes that the 2024/25 figure...

The CIOT reports that HMRC are conducting a trial involving not sending corporation tax return and payment reminder letters CT208 PR1 and CT208 PR2 to 5% of companies that have an authorised agent. The trial will run from July to December 2025 but if...

HMRC have added a section to their basic guidance which summarises tax on pensions, savings and other income for individual taxpayers. The new section covers paying back the winter fuel payment where the £35,000 income threshold is exceeded, noting...

The Department for Business and Trade and the Treasury have published a Double contributions convention explainer to set the context for the reciprocal agreement on social security contributions which the UK and India will negotiate, following the...

HMRC have issued a Notice which, having the force of law, specifies Spain and Guernsey as: Pillar Two territories; territories with qualified domestic minimum top-up taxes; and territories with accredited qualifying domestic top-up taxes, for the...

The European Commission is consulting (until 12 September 2025) on draft guidelines on the implementation of the Foreign Subsidies Regulation (FSR) (Regulation (EU) 2022/2560). The guidelines cover the following subjects, all of which are set out in...

The OECD Council has renewed the mandate of its Secretary-General, Mathias Cormann, for a second (and final) five-year term from 1 June 2026. Sybel Galván Gómez, OECD Ambassador for Mexico, who managed the process leading to the decision, said:...

The Institute for Fiscal Studies (IFS) has published a briefing paper on the twice-yearly economic and fiscal forecasts produced by the Office for Budget Responsibility (OBR). On balance, says the IFS, ‘there are strong arguments for retaining the...

The role of third-party software providers will come into sharper focus from April 2026, as the Making Tax Digital for Income Tax record-keeping requirements come into force for the first mandatory phase. This gives providers a vital role in the tax...