NEWS

HMRC have launched a technical consultation on the requirement for in-scope multinationals to report certain information about cross-border, related-party transactions. The documentation sets out a draft International Controlled Transactions Schedule...

The UK-India Double Contributions Convention (DCC), which determines the period for which social security contributions remain payable in the worker’s home country, is to be extended from 36 to 60 months. The DCC has been negotiated alongside the...

HMRC have estimated the UK tax gap for 2024/25 at 6.4% of total theoretical liabilities, equivalent to £59.2bn of unpaid tax, according to provisional figures published this week. HMRC collected £865.2bn in 2024/25, representing 93.6% of all tax due....

The Treasury have published the outcome of their consultation on the proposed reform of the supervision of anti-money laundering compliance for professional services firms, under which supervision would be transferred to the Financial Conduct...

HMRC are seeking views on a new measure to address double taxation for UK resident individuals investing in certain overseas entities, including US limited liability companies. The key issue underlying the consultation is where an entity is treated...

HMRC have updated their interim guidance to note that mandatory payrolling of benefits in kind will be phased in from 6 April 2027. From that date company cars, car fuel, vans, van fuel and employer-provided medical benefits will be within scope...

HMRC have published new basic guidance on how to request a property valuation check for the purposes of Annual Tax on Enveloped Dwellings (ATED). The guidance says that, if a dwelling is within 10% of an ATED threshold, a pre-return banding check...

The Income Tax (Pay As You Earn) (Amendment No. 2) Regulations, SI 2026/610, insert a new reg 14BA into the PAYE regulations (SI 2003/2682) to allow for the collection of the winter fuel payment charge via individuals’ PAYE tax codes, following a...

The Society of Pension Professionals (SPP) has urged HMRC to rethink key aspects of its IHT framework for pensions, warning that the current approach places unrealistic obligations on pension schemes and could create significant delays and confusion...

The Low Incomes Tax Reform Group (LITRG) has urged HMRC to establish the scale of errors made by employers when applying pension tax relief, warning that inaccurate records could affect the operation of the new pension top-up payment regime for...