NEWS

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

The Economic Crime and Corporate Transparency Act 2023 (Commencement No. 6) Regulations, SI 2025/1118, confirm that mandatory identity verification for directors and persons with significant control (PSCs) will start on 18 November 2025. New...

The CIOT and ATT have responded to the UK Government’s plans to consolidate anti-money laundering (AML) and terrorist financing supervision for accountancy, legal and trust and company service providers into one Single Professional Services...

From November 2025, HMRC will write to taxpayers whose 2024/25 returns show they will fall within MTD for Income Tax from April 2026. The letters will outline the steps needed to prepare and link to Gov.uk guidance. Agents may see increased client...

The House of Lords Economic Affairs Committee is seeking written evidence on the effectiveness of the UK’s fiscal framework. The inquiry notes that governments since 1997 have operated within self-imposed fiscal rules, often by narrow margins,...

KPMG Law report that HMRC have begun writing to taxpayers about their recently published Guidelines for Compliance 13 (GfC13) – which sets out the department’s expectations of the standard required when declaring that a return is correct and...

Writing to Dan Tomlinson, Exchequer Secretary to the Treasury, Lord Liddle, Chair of the House of Lords Economic Affairs Finance Bill Sub-Committee, outlines the Committee’s concerns around the proposed criminal offences for non-disclosure of tax...

The CIOT has raised the following key points in its response to the House of Lords Finance Bill Sub-Committee’s call for evidence on the proposed IHT changes (covering unused pension funds and APR/BPR) in the draft Finance Bill legislation: On...

The CIOT has issued a technical update clarifying that non-UK resident companies subject to UK corporation tax cannot claim the small profits rate or marginal relief. Under CTA 2010 s 18A, the rate applies only to UK-resident companies. While there...

HMRC have appointed a new R&D advisory panel, to enhance the department’s expertise and understanding in relation to claims for R&D tax relief. The six independent industry specialists will bring ‘real world experience, offering deep sectoral...