Issue 1751

Analysis

• How close is close enough? Orsted and the limits of ‘on the provision of plant’
• Strike-out!
• Beyond ten years: rethinking EMI options
• Transfer pricing changes: foreign exchange
• The VAT review for May 2026

In brief

• Protected foreign source income: limits exposed
• Project Snowball
• Online reporting for UK employee share plans and awards

News

• HMRC issue Spotlight 63a on hybrid partnership property schemes
• Government confirms that no SDLT charge for tenants on periodic tenancies
• Unclaimed child trust funds
• PIP awards: power to extend fixed-term awards introduced
• HMRC are not appealing Colchester Institute case
• Croatia DTA updated
• Record HMRC tax and NIC receipts driven by rise in NIC rate
• Recognised stock exchanges list updated
• Lords Committee warns of need to fortify UK fiscal rules

Cases

• HMRC v Burlington Loan Management DAC
• HMRC v MR Currell Ltd
• R Madsen v HMRC
• Other cases that caught our eye: 1 May 2026

One minute with

• One minute with... Nick Wright

Trackers

• HMRC manual changes: 1 May 2026