HMRC has been consulting on proposals to modernise the tax rules governing distributions and repayments of capital from companies. The consultation was published on 23 June 2026 and closed on 14 September 2026. The proposals look at the treatment of ‘new consideration’ and ‘repayments of capital’, distributions from non-UK companies and...
More...Employers operating employee share schemes may now be receiving penalties from HMRC for failing to submit their employment related securities (ERS) end of year returns on time. ERS schemes are used to provide employees with shares, options and other securities as rewards or incentives. Employers must submit an annual ERS return for every...
More...HMRC has updated its guidance on how individuals and organisations can apply for a certificate of residence or letter of confirmation to prove UK tax residence. A certificate of residence can be used to claim tax relief in another country where UK residents pay tax on foreign income. It confirms to the overseas tax authority that the...
More...The government is considering changes to the voluntary National Insurance contributions (NICs) system following a call for evidence published earlier this year. Voluntary NICs allow individuals to fill gaps in their National Insurance record where they have not built up a qualifying year through compulsory contributions or National...
More...A limited company usually pays Corporation Tax on the profit, known as a chargeable gain, when it sells or otherwise disposes of a business asset. Business assets can include land and property, equipment & machinery and shares. The rules also apply to most unincorporated associations and foreign companies with a UK branch or office....
More...HMRC has published an updated list of deliberate tax defaulters. The list includes individuals, businesses and companies, detailing the amounts on which penalties are due and the exact penalties charged. The details of a tax defaulter will be held on HMRC’s website for a maximum of 12 months from the date they are first published and are...
More...Several employment law changes are approaching that businesses need to understand. The first arrives on 1 October 2026, when the normal period in which an employee can bring a claim to an Employment Tribunal increases from three months to six months. The change has a practical consequence for employers. Employment records relating to...
More...When an employee develops a health problem, the consequences can extend far beyond a few days of absence. The Government published an update to its Keep Britain Working programme on 23 September, setting out plans for what it describes as Britain’s first Workplace Health System. The scale of the problem is substantial. Around 300,000...
More...Some taxpayers have already started to receive Simple Assessment letters from HMRC for the 2025-26 tax year, with a further tranche due to be sent between October and December 2026. Simple Assessment is used where HMRC cannot collect income tax through PAYE or self-assessment. The PA302 letter sets out HMRC’s calculation of the tax due,...
More...Mayors and local leaders in England are to be given powers to introduce an overnight visitor levy, creating a new charge for people staying in short-term visitor accommodation. The government announced the plans on 10 September 2026 following a consultation which closed on 18 February 2026. The levy will be optional, with mayors and...
More...A new press release from HMRC is highlighting the fact that almost 7 million UK adults could be heading towards retirement without knowing how much State Pension they may be entitled to. New research has found that around one in eight adults (12.5%) have never checked their State Pension forecast. Those aged 45 to 54 are more likely...
More...HMRC is contacting some trustees after identifying possible errors in recent Trust and Estate tax returns relating to the type of trust being reported. The latest HMRC compliance campaign focuses on trusts where box 8.15 of the Trust and Estate Tax Return was ticked to indicate that the trust is not an accumulation or discretionary...
More...Businesses importing certain carbon-intensive goods into the UK will face a new carbon tax from 1 January 2027, when the Carbon Border Adjustment Mechanism (CBAM) comes into effect. CBAM will apply to specified goods imported from outside the UK in the aluminium, cement, fertiliser, hydrogen, and iron and steel sectors. The tax is...
More...HMRC has clarified how employers can handle benefits in kind for globally mobile employees as mandatory payrolling is introduced from April 2027. Under the new rules, most benefits in kind will have to be reported through payroll rather than on annual P11D forms. The first phase, starting on 6 April 2027, covers company cars, vans, fuel...
More...Businesses waiting for cheaper borrowing may need to reconsider their plans. The Bank of England kept Bank Rate unchanged at 3.75% in September, but three members of the Monetary Policy Committee voted for an immediate increase to 4%. The concern is inflation. UK inflation has moved above the Bank’s 2% target and higher energy costs are...
More...Cyber security is sometimes treated as a problem for large organisations with specialist IT departments. In reality, smaller businesses can be particularly vulnerable because they often have fewer resources available to detect an attack and recover afterwards. The Government continues to strengthen its approach to cyber resilience,...
More...HMRC has launched an improved online service to make it easier for individuals to register for self-assessment. Anyone who needs to submit a tax return for the first time for the 2025-26 tax year should notify HMRC by 5 October 2026 to avoid a potential penalty. The new service is available through a Personal Tax Account and includes...
More...HMRC is reviewing proposals to introduce new powers for recovering lower-value, persistent tax debts from individuals and businesses that repeatedly fail to engage with collection efforts. The proposals, set out in a public consultation earlier this year, would allow HMRC to recover debts through affordable monthly instalments taken...
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