NEWS

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

James Murray, Exchequer Secretary to the Treasury, confirmed in a ministerial statement on 15 May that the Government will legislate in the next Finance Bill to allow employers, with the employee’s permission, to amend existing EMI and CSOP contracts...

HMRC have published guidance on the Cryptoasset Reporting Framework (CARF), outlining new obligations to collect and report user data. From 1 January 2026, UK-based reporting cryptoasset service providers (RCASPs) will be required to collect and...

The Environment, Food and Rural Affairs Committee, comprising 11 MPs across political parties, has recommended that the Government to delay implementing its final APR and BPR reforms until April 2027 in order to provide more time for farming...

The Value Added Tax (Amendment) Regulations, SI 2025/578, address an administrative inflexibility by providing HMRC with the power to extend by direction the length of the period a person has available to make their final return when becoming...

The Finance Act 2021 (Increase in Schedule 26 Penalty Percentages) Regulations, SI 2025/589, increase the penalty percentages for late payment of tax under Making Tax Digital – initially for VAT and those within the income tax pilot phase (‘eligible...

HMRC have published details about Stop Notices ordering struck-off solicitor and former barrister Paul Baxendale-Walker to stop promoting two tax avoidance schemes. HMRC said this is the first time such notices have been issued to a named individual....

Business arrears to HMRC are running at an average of £28bn per month, according to HMRC. Official figures obtained by HMRC under the Freedom of Information Act suggest that in Q1 2025, corporation tax debt arrears are at an average of £7bn per month...

HMRC have updated their lists of late-payment and repayment interest rates, following the reduction of the bank base rate to 4.25%. With effect from 28 May 2025, the late-payment interest rate is 8.25% and the repayment rate is 3.25%, for most taxes....

The CIOT has written a letter to the new HMRC Chief Executive and First Permanent Secretary, JP Marks, to highlight some key areas of priority to help address the Exchequer Secretary’s three priorities for HMRC: closing the tax gap: by HMRC sharing...