NEWS

HMRC have sought to address CIOT concerns about the potential for double remittances on foreign income or gains in the non-domicile changes in Finance Act 2025. The CIOT argued that HMRC’s current view of past remittance rules appeared to be...

The National Insurance Contributions (Secondary Class 1 Contributions) Act 2025 received royal assent on 3 April 2025. The Act: increases the secondary Class 1 NICs rate from 13.8% to 15%; reduces the Class 1 NICs secondary threshold from £175 to...

HMRC have issued new Directions under ITEPA 2003 ss 690A and 690D (introduced by FA 2025 with effect for 2025/26) requiring employers (or their agents) to make the following notifications to HMRC for two cohorts of employees: internationally mobile...

As initially announced at Autumn Budget 2024, the government has committed to an independent review of the Loan Charge. The review, which is being led by Ray McCann, will examine the barriers preventing those who are subject to the Loan Charge but...

MPs and business owners fundamentally disagree on which taxes should be reformed to boost growth, according to Price Bailey. Their research, which was conducted by YouGov, suggests that business leaders are less concerned about day-to-day trading...

In Treasury minutes, dated 3 April 2025, the UK Government has set out its responses to the Public Accounts Committee reports on HMRC customer service. The Government agrees with the following recommendations: Putting taxpayers’ needs (including the...

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

The CIOT has published a paper outlining concerns around HMRC’s position on the treatment of re-remittances of foreign income or gains on or after 6 April 2025. Recent discussions revealed HMRC’s view that funds previously remitted to the UK are only...

The Multinational Top-up Tax (Pillar Two Territories, Qualifying Domestic Top-up Taxes and Accredited Qualifying Domestic Top-up Taxes) Regulations, SI 2025/406, set out the list of territories which have qualifying income inclusion rules and...

The Relief for Creative Industries (Additional Information Requirements and Miscellaneous Amendments) (Amendment) Regulations, SI 2025/383, update the additional information required to be submitted in support of creative sector tax relief claims on...