NEWS

The CIOT has published detailed comments on the Finance Bill 2025 non-doms legislation, covering in particular the FIG regime, the temporary repatriation facility and inheritance tax. Highlights include:proposed changes widening what constitutes a...

HMRC reported last week that 5.4m taxpayers were still to file their self-assessment returns and pay any tax due by the 31 January deadline. The press release mentions late-filing and late-payment penalties, but does not include a link to guidance on...

With the rate of late-payment interest to increase in April 2025, the CIOT is urging the UK Government to re-introduce rules enabling HMRC to waive interest on underpaid VAT where no actual tax loss has occurred.The CIOT has again highlighted a...

The CIOT reports that HMRC are sending ‘one-to-many’ emails to selected small VAT-registered charities, to raise awareness around the obligation to complete business/non-business apportionment calculations. Many smaller charities are not aware they...

The Customs (Safety and Security Procedures) Regulations, SI 2025/20, represent a key administrative part of the new customs checks which will be required for goods brought into Great Britain from the EU from 31 January 2025 onwards. The then UK...

The Co-Chairs of the Inclusive Framework on BEPS (IF) have issued a progress update on Pillar One.On Amount A (allocation of taxing rights), the update recaps work leading to the revised multilateral convention text for adoption, and confirms the...

The OECD has published a new report, MNE Business Functions and Corporate Taxation, which looks at the responses of large multinationals to taxation policy, by assessing their global allocation of business functions (e.g. manufacturing, sales,...

Kenya has deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the BEPS Multilateral Instrument). The Instrument will enter into force on 1 May...

The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order, SI 2025/17, provides that arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme for the purposes of Financial...

The CIOT has issued new guidance for members who need to help clients make disclosures to HMRC. The guidelines also set out a helpful list of current disclosure options....