Issue 1755

Analysis

• Ask an expert: Dividend planning under the new close company reporting regime
• HMRC’s Litigation and Settlement Strategy: overdue for reform
• Loopholes and tax avoidance
• Loans from non-UK resident trusts: UK tax traps
• International review for May 2026

In brief

• HMRC clarify CIS financing positions
• TP adjustments and VAT: lessons from Stellantis Portugal
• Updating the obsolete

News

• Foreign Permanent Establishment exemption to be made mandatory
• Chancellor announces package of road fuel measures
• Quarterly advisory fuel rates published
• New Isle of Man social security agreement signed
• Streeting proposes CGT equalisation in ‘wealth tax’ plan
• Income tax exemption for kinship payments
• Chancellor seeks summer boost with temporary VAT measures
• Further modified UK tax treaties published
• Pillar Two GIRs
• Qualifying Pillar Two territories
• Interest on new DOTAS penalties

Cases

• Queenscourt Ltd v HMRC
• Re Waldorf Production UK plc
• H Gwyn-Jones v HMRC
• Other cases that caught our eye: 29 May 2026

One minute with

• One minute with… Jason Fayers

Trackers

• HMRC manual changes: 29 May 2026

Ask an expert

• Ask an expert: Dividend planning under the new close company reporting regime