NEWS

The CIOT has responded to HMRC’s consultation, Transfer pricing: scope and documentation. (This was separate to the related consultation, Reform of transfer pricing, permanent establishment and diverted profits tax, highlighted in last week’s...

HMRC have refreshed their guidance, Apply for Marriage Allowance by post, to clarify that backdated marriage allowance (i.e. the transferable tax allowance for married couples and civil partners) claims for 2021/22 onwards can only be made by post...

HMRC’s guidance, How late payment penalties work if you pay VAT late, has been updated to reflect the 3% penalties for tax overdue at days 15 and 30 (the two phases of the ‘first late-payment penalty’) and 10% where tax is overdue by 31 days or more....

HMRC do not know how many billionaires pay tax in the UK, or how much they contribute overall, the Public Accounts Committee concludes in a new report. The paper, Collecting the right tax from wealthy individuals, finds that ‘HMRC has no overview of...

Speaking at her first engagement as Director of the Institute for Fiscal Studies, Helen Miller said that the Government should focus on the ‘big challenges’, adopting a coherent tax strategy rather than ‘tinkering around the edges’. At the event...

HMRC have updated the ‘signing up’ section of their Use Making Tax Digital for Income Tax guidance, to cover the appointment of more than one agent, giving an example of a bookkeeper who deals with quarterly submissions (the supporting agent) and an...

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

Responding to general speculation that the 2025 Autumn Budget will need to include tax increases, following the UK Government’s recent reversal of plans to save money through welfare reform, the Institute for Fiscal Studies (IFS) pours hot water on...

Draft legislation for Finance Bill 2026 is to be published on Monday 21 July 2025, James Murray, Exchequer Secretary to the Treasury, has announced in a written statement. This will cover ‘pre-announced policy changes’. Explanatory notes, tax...

In a joint letter to the Scottish Government and HMRC, the CIOT and ICAS outline a number of points to consider in relation to the potential VAT treatment of the Scottish Visitor Levy, which is expected to be introduced locally from around mid-2026...