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Tax accountancy and financial-services bodies have overwhelmingly opposed or questioned HMRC’s proposal for a new criminal offence of making reckless untrue statements or declarations in relation to direct tax. The offence would provide a direct tax counterpart to existing customs and VAT offences. It could apply to oral...
HMRC have updated their transfer pricing Guidelines for Compliance (GfC7) to signpost the Transfer Pricing and Profit Diversion Compliance Facility as a route for correcting certain significant or complex transfer pricing errors where a return can no longer be amended. Where a business identifies an error in the...
HMRC have published minutes of a 1 July meeting with external experts on the review of the personal tax offshore anti-avoidance legislation. The Government committed at Budget 2025 to substantially simplify the rules but HMRC said key policy-design decisions remained subject to ministerial direction. Five co-creation workshops explored...
In a letter to Financial Secretary to the Treasury James Murray the CIOT has urged the government to address five practical issues before pensions become subject to IHT from 6 April 2027. It recommends that: pension funds discovered after a certificate of discharge is issued should be taxed...
HMRC have published the Draft Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order preserving the existing tax treatment of pension benefits for people aged 55 or 56 when the normal minimum pension age rises to 57 on 6 April 2028. Members aged 55 or 56 on 5 April 2028 will...
The Scottish Government has launched a consultation on the operation of the Scottish Building Safety Levy (SBSL). The consultation seeks views on approaches for the floorspace methodology for the SBSL options for refining the tax base through further exemptions or reliefs and payment flexibilities for certain development types....
The next Budget will be on 28 October 2026 Chancellor John Healey announced in a letter to the Treasury Committee. The Treasury has also opened its Autumn Budget 2026 stakeholder representation portal inviting policy representations by 9 September 2026.
More than 436 000 sole traders and landlords submitted their first MTD for Income Tax quarterly update by the 7 August deadline – around half of the estimated 864 000 taxpayers in the first mandatory cohort. HMRC said that 570 000 had signed up leaving about a third of...
HMRC have opened the second phase of mandatory tax adviser registration. Advisers with a self-assessment or corporation tax agent account but without an Agent Services Account (ASA) must register by 18 November 2026. Advisers who missed the first registration window or are new entrants to the...
Responding to HMRC’s consultation on timely payment in ITSA the CIOT says it supports reducing the interval between receiving income and paying tax but is unconvinced that collection through PAYE is the right mechanism. It recommends facilitating more frequent direct payments for all taxpayers and adopting a phased voluntary approach...
