NEWS

The judicial review of the UK Government’s removal of the VAT exemption for private school fees was scheduled to be heard before the High Court between 1 and 3 April 2025.The claim challenges the decision on several grounds, including that taxing the...

The Taxes and Duties, etc (Interest Rate) (Amendment) Regulations, SI 2025/386, amend the formulas for calculating the various rates of late-payment interest charged on amounts due to HMRC – the effect being to increase those rates by 1.5 percentage...

The Finance Act 2021 (Amendment of Schedule 26 Penalty Figures) (Appointed Day: Regulation Making Power) Regulations, SI 2025/399, enable changes to be made to the MTD penalties regime, as announced by the Chancellor at Spring Statement 2025. The...

HMRC’s March 2025 Bulletin provides several key updates, including: Private Intermittent Securities and Capital Exchange System (PISCES): a general update on the introduction of PISCES, a new stock market for secondary trading of private company...

In its response to the Finance and Public Administration Committee of the Scottish Parliament’s Inquiry into the Scottish Budget process in practice, the CIOT makes several key points: a legislative vehicle, such as an annual finance or tax Bill to...

HMRC have added Spotlight 68 to their collection, summarising a marketed scheme which aims to reduce corporation tax liabilities by including ‘advertising’ expenses in the company’s profit and loss account. Under the arrangements, the company deducts...

HMRC have issued new Directions requiring the electronic delivery of R&D claim notifications, additional information in support of claims, ‘Chapter 2 relief’ notifications (Northern Ireland companies), and amendments to company tax returns which...

HMRC have updated their company tax return guidance to confirm that the requirement to include the new supplementary form CT600P in returns (for creative industry claims) has been postponed until April 2026. The delay had been mentioned in HMRC’s...

The National Insurance Contributions (Secondary Class 1 Contributions) Bill returned to the House of Lords after the House of Commons rejected the latest set of Lords amendments and is currently awaiting royal assent. The measures in the Bill have...

Tax Journal thanks its authors for March (click on links below to view author profiles and access their contributions):Hayden Bailey and Emma Haley - APR and BPR reform: time to make hay while the sun shines?Adam Craggs and Dan Williams - Criminal...