HMRC have told the CIOT and ICAEW that from 2026/27 it will remove employment expenses over £120 from PAYE codes in certain cases, including where the taxpayer has no current PAYE income, there has been a full-year employment gap, no self-assessment...
This month’s update by Jo Crookshank and Gary Barnett (Simmons & Simmons) covers share sales, substance over form and single supplies.
HMRC have reported a rise in the number of FINs, and highlighted changes to the definition of ‘financial institution’ in the Common Reporting Standard. On 15 January 2026, HMRC published its fourth report on the use of FINs covering the period from...
Jennifer Plummer (BDO) considers the requirements for this valuable relief and outlines some of the complexities involved where corporate structures are not straightforward....
On 20 January 2026, the Welsh government published its final Budget for 2026/27. It confirms tax proposals including maintenance of the current Welsh rates of income tax, no changes to the current land transaction tax rates, and new landfill...
HMRC are changing how employment related securities (ERS) net settlement should be reported, as part of their ongoing evaluation to identify process simplifications and reduce the administrative burden for employers. Following consultation with...
Regulations have been brought into force that require companies to maintain their own register of members, rather than electing to keep the information on the central register. The Economic Crime and Corporate Transparency Act 2023 (Commencement No....
HICBC and taxpayer’s use of AI: In R Huish v HMRC [2026] UKFTT 129 (TC) (16 January), the FTT allowed the taxpayer’s appeal against discovery assessments purportedly charging him to the high income child benefit charge (HICBC) for 2015/16. HMRC made...
The Scottish Government has confirmed that Air Departure Tax (ADT) is to be introduced from 1 April 2027 and has launched a consultation on the design of the tax, including a proposed exemption for flights to and from the Highlands and Islands. The...
Damon Wright (K3 Tax Advisory) examines the Finance Bill provisions.
