Issue 1717

Analysis

• Giving advice in uncertain times
• Close encounters with close companies (part 1): definitions and concepts
• Carry on paying on account (or risk paying more)
• BGC Services: lacking determination
• Private client review for July 2025
• VAT assessment time limits: an affront to legal certainty

In brief

• HMRC’s approach to wealthy individuals
• There’s only one POEM

News

• HMRC manual changes: 18 July 2025
• Chancellor outlines financial services strategy
• CIOT reviews transfer pricing proposals
• Marriage allowance: backdating claims
• Further HMRC update on VAT penalties
• PAC criticises HMRC for failure to target wealthiest
• Government needs coherent tax strategy, says new IFS Director
• MTD for Income Tax: multiple agents

Cases

• Abbotsford Property Group Ltd and another v Revenue Scotland
• R (oao Thomas Holdings Ltd and others) v HMRC
• G Stenhouse and another v HMRC
• Other cases that caught our eye: 18 July 2025

One minute with

• One minute with... Lorenza De Domenico

Trackers

• HMRC manual changes: 18 July 2025