Issue 1761

Analysis

• Let the light in: LLCs and other reverse hybrids
• Tax and the City for July 2026
• CooperVision: long-sighted ERS rules
• Contentious tax quarterly: Summer 2026
• Ask an expert: CGT and excluded settlors: reimbursement risks for trustees post-April 2025

In brief

• Directors’ liability: tax schemes
• BlueCrest: the impact for asset managers
• When Ramsay does not rescue HMRC

News

• HMRC update Transformation Roadmap for digital-first tax system
• Taxation (Energy and Vehicles) Bill: Lords stages
• Horizon family payments to be exempt from tax
• CGT: gilt-edged securities list updated
• Customs guidance round-up
• New UK-Sweden tax treaty arbitration memorandum
• ERS end of year returns guidance
• New trust registration guidance
• Businesses face increased TP reporting burden, says Blick Rothenberg
• Survey reveals gap in tax knowledge among Gen Zs
• New addition to tax avoidance list
• Agent update: MTD for Income Tax
• MTD for Income Tax software developer newsletter

Cases

• HMRC v BlueCrest Capital Management (UK) LLP
• Compound Photonics Group Ltd v HMRC
• Other cases that caught our eye: 10 July 2026

One minute with

• One minute with... Waqar Shah

Trackers

• HMRC manual changes: 10 July 2026

Ask an expert

• Ask an expert: CGT and excluded settlors: reimbursement risks for trustees post-April 2025