NEWS

The House of Lords has passed several amendments to the National Insurance Contributions (Secondary Class 1 Contributions) Bill which seek to reverse the proposed increase in the secondary Class 1 rate and the reduction in the secondary threshold....

The Co-ownership Contractual Schemes (Tax) Regulations, SI 2025/200, provide the tax rules for the Reserved Investor Fund (RIF), a new type of investment fund, and make associated changes for co-ownership authorised contractual schemes (CoACS). The...

The Income Tax (Exemption of Scottish Adult Disability Living Allowance) Regulations, SI 2025/212, add Scottish Adult Disability Living Allowance to the list of social security benefits which are exempt from income tax set out in ITEPA 2003 s 677....

The OECD has published a consolidated report which incorporates the agreed materials on Amount B released by the Inclusive Framework between February and December 2024. In 2021 the OECD agreed a simplified and streamlined approach to applying the...

HMRC have opened 14 investigations for suspected underpayments of the energy profits levy by oil and gas companies, reports Pinsent Masons. Jake Landman, Partner and tax disputes specialist at the firm said: ‘The Energy Profits Levy is an extremely...

The First-tier Tribunal has revised its guidance on the preparation of PDF bundles that was first published in 2021. The 2025 version sets out an exhaustive list of the types of documents that should appear in the bundle, and adds the following key...

Scottish Finance Secretary Shona Robison has confirmed that the Scottish Parliament has approved the Scottish Government’s 2025/26 Budget. At the Budget, changes were announced to Scottish income tax thresholds. The Scottish Income Tax Rate...

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

The Government has released a (potentially first) batch of amendments to Finance Bill 2025 to be taken at report stage in the House of Commons on Monday 3 March 2025. The amendments are as follows: Clause 26: TV and film Audio-Visual Expenditure...

From 17 February 2025, local authorities can begin introducing 40% business rate relief schemes for film studios in England. This was part of a package of further support for the UK’s creative industry sectors announced by the previous government at...