NEWS

HMRC have published their annual report and accounts for 2025/26, reporting total tax revenue of £966.4bn, up £90.4bn on the previous year. Compliance yield (essentially, tax that without HMRC’s intervention would have been lost) exceeded £50bn for...

The Public Accounts Committee (PAC) has warned that HMRC need to do more to counter the risk of large multinationals diverting profits across borders, even though it found HMRC’s approach to large business compliance generally works well. Of the...

Following on from Tax Update 2026, HMRC have published a detailed Transformation Roadmap update, setting out the UK Government’s ‘vision for a more efficient, modernised and automated tax and customs system’ with a continued focus on a digital-first...

The Taxation (Energy and Vehicles) Bill, which passed Committee Stage without amendment and received Third Reading in the House of Commons on 1 July 2026, has now been scheduled for House of Lords stages on 14 July 2026. As a ‘money bill’, the...

The Horizon Family Members Redress Scheme (Tax Exemptions and Relief) Regulations, SI 2026/717, provide for exemptions from income tax and CGT, and a relief from IHT, for payments received under the Horizon Family Members Redress Scheme. The scheme...

The Taxation of Chargeable Gains (Gilt-edged Securities) Order, SI 2026/725, sets out a further 11 securities which are gilt-edged securities for the purposes of TCGA 1992 s 115, meaning that gains on disposals of those securities are not treated as...

New legislation includes the Pleasure Craft (Arrival and Report) (Amendment) Regulations, SI 2026/707, allowing arrival reports to be made electronically, and the Customs (Tariff and Miscellaneous Amendments) (No. 5) Regulations, SI 2026/703, making...

HMRC have added the 2026 UK-Sweden memorandum of understanding on arbitration, under Article 23 of the 2015 Double Taxation Convention between the two countries, to its tax treaties collection. Signed on 9 June 2026, the memorandum sets out detailed...

HMRC have updated their guidance, How employment related securities work if you’re an employer, to add more detail on circumstances where an end of year return is not required. An ERS end of year return will not be required where all of the following...

HMRC have published new guidance on checking whether a trust must be registered on the Trust Registration Service, setting out the circumstances in which a trust must register and where exemptions from the requirement apply. It also recaps the time...