NEWS

The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations, SI 2025/119, limit the availability of multiple dwellings relief (MDR) from land transaction tax in certain circumstances where the...

With the cost to HMRC of running the tax system increasing, there is scope for increased efficiency and productivity, according to a National Audit Office (NAO) report. According to the NAO: HMRC’s costs of administering the tax system increased by...

The true cost of tax evasion is likely being vastly underestimated as loopholes in the current system make it all too easy for fraudulent behaviour to go unchecked, according to a Public Accounts Committee (PAC) report published this week. HMRC...

HMRC have updated their guidance on receiving income tax or PAYE repayments on behalf of others to reflect advance electronic signatures. The guidance now sets out which forms it applies to, covers the advanced electronic signature process, and...

HMRC have requested that, due to changes in CGT rates for non-residential disposals from 30 October 2024, trustees and estates do not file 2024/25 returns until after 5 April. This is to ensure the correct application of the new CGT rates. ...

The National Insurance Contributions (Secondary Class 1 Contributions) Bill completed its committee stage in the House of Lords on 6 February with no amendments. Report stage is scheduled for 25 February. ...

HMRC have announced that interest rates for late payment and repayment will decrease from 17 February for quarterly instalment payments and from 25 February for non-quarterly instalment payments. This follows the decision of the Bank of England to...

The US has pulled out of discussions at the United Nations over a new global tax treaty – with the US delegation walking out of the meeting on the first day of the procedural session – and encouraged other member states to oppose any outcome from...

HMRC are seeking views on supplementary draft guidance for multinational top-up tax and domestic top-up tax, which includes sections on flow-through entities, joint ventures (JV), the insurance sector, and additional top-up amounts. The draft also...