Issue 1719

Analysis

• International review for July 2025
• You can Reid all about it (because it’s not privileged)
• Transformation Roadmap
• Business investment relief: where angels fear to tread?
• OBBBA: a new era in Republican tax legislation
• Can transfer pricing leave the VAT analysis lost on a high hill?
• Inter-company outsourcing under scrutiny: VAT perspective after JPMorgan
• In conversation with... Ashley Greenbank

In brief

• Self’s assessment: Time for a wealth tax?
• Highlights from HMRC’s 2024/25 annual report

News

• HMRC manual changes: 1 August 2025
• Record number of penalties overturned on appeal
• Removal of corporation tax payment reminder letters
• Winter fuel payment opt-out deadline reminder
• UK and India clarify double contributions convention
• HMRC add to Pillar Two territories
• EC consults on draft Foreign Subsidies Regulation guidelines
• Second term confirmed for OECD’s Cormann
• Too many fiscal forecasts?
• HMRC should take active role in tax return software, says IFS

Cases

• York SD Ltd and others v HMRC
• M Campbell v HMRC
• Millennium Cash & Carry Ltd v HMRC
• Other cases that caught our eye: 1 August 2025

One minute with

• One minute with... Daniel Feingold

Trackers

• HMRC manual changes: 1 August 2025