Issue 1734

Analysis

• The 2025 loan charge review and Government response: the final chapter?
• Saunders: new uncertainty for contractual employee incentive arrangements
• The VAT review for December 2025
• Risky business: the basics and use cases of tax insurance
• International review for December 2025

In brief

• TSI Instruments and import VAT recovery
• Voluntary returns and impossible penalties
• Budget 2025 changes to the share exchanges and reorganisation rules

News

• HMRC manual changes: 5 December 2025
• Further practitioner reaction to Budget tax measures
• Finance Bill
• HMRC publish OOTLAR and tax tables, eventually
• OBR takes responsibility for early access
• Scottish devolved taxes: postponement of tax
• Scottish aggregates tax regulations
• Car fuel, van fuel and van benefit figures published
• HMRC clarify treatment of CT on restitution interest

Cases

• Places for People Homes Ltd v HMRC
• Executor of P Goudman-Peachey v HMRC
• HMRC v M Breen
• Other cases that caught our eye: 5 December 2025

One minute with

• One minute with… Imran Afzal KC

Trackers

• HMRC manual changes: 5 December 2025