NEWS

In some welcome news, HMRC have updated their Capital Gains Manual (at CG65356) to clarify that there is no change to their policy on the tax treatment of lump sum payments on divorce relating to the former matrimonial home. ...

The Taxation of Chargeable Gains (Gilt-edged Securities) Order, SI 2025/553, specifies 14 securities as ‘gilt-edged’ securities for the purposes of TCGA 1992 s 115, meaning that any gains on disposals of those securities are not treated as chargeable...

HMRC have updated the save as you earn scheme (SAYE) bonus rates following the Bank of England decision on 8 May 2025 to cut the bank base rate to 4.25%. SAYE bonus rates will be reduced to 0.7 for three-year contracts and 1.9 for five-year contracts...

HMRC have published Spotlight 70 to bring further attention to the use of VAT grouping arrangements by some residential care providers to enable recovery of VAT on costs which would otherwise not be recoverable. HMRC set out their approach to the VAT...

The Inclusive Framework on BEPS has published an updated version of its ‘Consolidated Commentary’ on the GloBE model rules, incorporating agreed administrative guidance up to March 2025 which has been released as jurisdictions have begun to implement...

President of the First-tier Tribunal (Tax Chamber), Judge Amanda Brown KC, has issued a practice statement that sets out how taxpayers and HMRC can turn to Alternative Dispute Resolution (ADR) once a formal appeal is under way (see...

The Tribunal Procedure (Amendment) Rules, SI 2025/561, expressly empower the Upper Tribunal and First-tier Tribunal to set aside a previous decision they have made (i.e. without requiring an application to set aside from one of the parties). The...

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....

HMRC conducted 648 dawn raids last year, up from 623 raids in the previous year, in their continuing campaign against tax evasion, according to figures obtained by Pinsent Masons. Pinsents note that HMRC have conducted property raids to pursue...

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