NEWS

The CIOT has published a paper outlining concerns around HMRC’s position on the treatment of re-remittances of foreign income or gains on or after 6 April 2025. Recent discussions revealed HMRC’s view that funds previously remitted to the UK are only...

The Multinational Top-up Tax (Pillar Two Territories, Qualifying Domestic Top-up Taxes and Accredited Qualifying Domestic Top-up Taxes) Regulations, SI 2025/406, set out the list of territories which have qualifying income inclusion rules and...

The Relief for Creative Industries (Additional Information Requirements and Miscellaneous Amendments) (Amendment) Regulations, SI 2025/383, update the additional information required to be submitted in support of creative sector tax relief claims on...

The judicial review of the UK Government’s removal of the VAT exemption for private school fees was scheduled to be heard before the High Court between 1 and 3 April 2025.The claim challenges the decision on several grounds, including that taxing the...

The Taxes and Duties, etc (Interest Rate) (Amendment) Regulations, SI 2025/386, amend the formulas for calculating the various rates of late-payment interest charged on amounts due to HMRC – the effect being to increase those rates by 1.5 percentage...

The Finance Act 2021 (Amendment of Schedule 26 Penalty Figures) (Appointed Day: Regulation Making Power) Regulations, SI 2025/399, enable changes to be made to the MTD penalties regime, as announced by the Chancellor at Spring Statement 2025. The...

HMRC’s March 2025 Bulletin provides several key updates, including: Private Intermittent Securities and Capital Exchange System (PISCES): a general update on the introduction of PISCES, a new stock market for secondary trading of private company...

In its response to the Finance and Public Administration Committee of the Scottish Parliament’s Inquiry into the Scottish Budget process in practice, the CIOT makes several key points: a legislative vehicle, such as an annual finance or tax Bill to...

HMRC have added Spotlight 68 to their collection, summarising a marketed scheme which aims to reduce corporation tax liabilities by including ‘advertising’ expenses in the company’s profit and loss account. Under the arrangements, the company deducts...

HMRC have issued new Directions requiring the electronic delivery of R&D claim notifications, additional information in support of claims, ‘Chapter 2 relief’ notifications (Northern Ireland companies), and amendments to company tax returns which...