Issue 1693

Analysis

• Buckle up your seatbelts: why 2025 will be a bumpy ride for US tax policy
• The Trump effect: US foreign tax policy
• Navigating the protective assessment maze with Jeffries & Sons
• Pillar Two one year on: what have we seen and where are we going?

News

• President Trump’s ‘statement of intent’ rejecting Two-Pillar solution
• HMRC manual changes: 24 January 2025
• IHT proposals for pensions add ‘significant complexity’
• Case for tax administration reform ‘overwhelming’, says CIOT
• Up to £10bn VAT may have been underpaid by large businesses
• Calendar year basis of assessment a ‘simplification’
• HMRC update MTD record-keeping guidance
• Updated guidance on CGT and cryptoasset disposals
• Forth Green Freeport customs free zone
• Global minimum tax updates
• FINs mostly used for domestic purposes, say HMRC
• Agent Update Issue 127
• Labour supply chain assurance guidelines
• Customs roundup

Cases

• HMRC v BlueCrest Capital Management (UK) LLP
• ScottishPower (SPCL) Ltd and others v HMRC
• HMRC v Sonder Europe Ltd
• Global by Nature Ltd v HMRC
• Other cases that caught our eye: 24 January 2025

One minute with

• One minute with... Mimi Chan

Trackers

• HMRC manual changes: 24 January 2025