NEWS

The Taxes (Interest Rate) (Amendment) Regulations, SI 2025/270, increase the ‘official rate of interest’ from 2.25% to 3.75% per annum with effect from 6 April 2025. This is the rate that applies for calculating the taxable benefit of...

The Social Security (Contributions) (Rates, Limits and Thresholds Amendments, National Insurance Funds Payments and Extension of Veteran’s Relief) Regulations, SI 2025/288, extend the zero-rate of secondary Class 1 NICs for employers of veterans for...

HMRC have issued guidance confirming that, from 31 March 2026, the online filing service for company accounts and tax returns will close. Companies can still use the service to file and amend their company tax return with HMRC and their accounts with...

Cabinet Secretary for Finance and Welsh Language Mark Drakeford has confirmed that the Welsh 2025/26 Budget was approved in the Senedd on 4 March 2025. The Welsh Budget maintains the current Welsh Rate of income tax (maintaining parity with England...

In an update to its guidance, HMRC have confirmed that SDLT higher-rate refund applications can be made by either the main buyer of the property or an agent acting on their behalf. Agents will need a signed letter of consent to act and a covering...

Tax Journal thanks its authors for February (click on links below to view author profiles and access their contributions):Arun Advani and Andy Summers - Introducing CenTax: anewtax research centrePaul Aplin OBE - Map makingJack Bonehill -...

The Chancellor of the Exchequer, Rachel Reeves, announced in the Autumn Budget on 30 October 2024 that two major reliefs from inheritance tax (IHT), Agricultural Property Relief (APR) and Business Property Relief (BPR) would be significantly...

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

HMRC have launched a technical consultation, as promised at Autumn Budget 2024, on the proposed reforms to IHT agricultural property relief and business property relief from 6 April 2026, with transitional provisions for transfers made before this...

Finance Bill 2025 passed Report Stage on 3 March 2025 and was given its third reading – completing the House of Commons stages. The Bill was next expected to be reprinted, incorporating the Government amendments, before moving to the House of Lords...