Issue 1765

Analysis

• The new taxpayer duty to correct inaccuracies: an obligation lacking clear boundaries
• UK withholding tax on interest: simplification or risk shift?
• ‘Beneficial owner’: the omnishambles of the conduit conundrum
• The VAT review for August 2026

In brief

• The end of offshore execution on secondary transactions
• Tax adviser registration: deferral for investment managers
• When is a trustee not a trustee?

News

• Broad opposition to proposed ‘reckless statements’ tax offence
• GfC7 points to disclosure facility for late TP corrections
• Options explored for simplifying offshore anti-avoidance rules
• CIOT calls for urgent changes on IHT on pensions
• Normal minimum pension age protection consultation
• Consultation on Scottish Building Safety Levy
• Budget 2026 date announced
• Only half meet first MTD for Income Tax quarterly deadline
• Second mandatory registration window opens
• CIOT unconvinced by proposed ITSA timely payment mechanism
• CIOT and ATT oppose mandatory direct debit for VAT and PAYE
• CIOT calls for proportionate ICTS reporting

Cases

• HMRC v G Quillan
• Perenco UK Ltd v HMRC
• HMRC v C Candy
• Property 118 Ltd and another v HMRC

One minute with

• One minute with... Elizabeth Spencer

Trackers

• HMRC manual changes: 28 August 2026