UK: HMRC to notify groups affected by Pillar Two taxes
The UK tax authority, His Majesty's Revenue and Customs (HMRC) published Agent Update Issue 129 on 19 March 2025, revising technical updates and key reminders for tax professionals. The first liabilities under the United Kingdom's implementation
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Peru, UK sign income and capital gains tax treaty
Peru and the UK have signed an income and capital gains tax treaty on 20 March 2025. The agreement seeks to reduce tax base erosion and profit shifting by lowering withholding tax rates on cross-border income. It caps dividend withholding tax at
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UK: HMRC launches CGT calculator for 2024–25
The UK's tax, payments and customs authority (HMRC) has launched a calculator for taxpayers affected by the 2024–25 Capital Gains Tax (CGT) rate changes. Those filing tax returns online through HMRC’s service may need to use this tool to
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UK: Finance Act 2025 receives Royal Assent
The UK Finance Bill 2024–25 passed through the House of Lords on 19 March 2025 and received Royal Assent on 20 March 2025. The bill was published as Finance Act 2025 and enacts tax measures from the Autumn Budget 2024, effective from the 2025–26
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UK issues revocation order to suspend tax treaty with Belarus
The UK has issued the Double Taxation Relief and International Tax Enforcement (Belarus) (Revocation) Order 2025, which was made on 12 March 2025, revoking the 2018 Order that had implemented the 2017 tax treaty with Belarus. As a result, the
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UK: HMRC to close free online filing for company accounts and tax returns by March 2026
The UK tax authority, His Majesty's Revenue and Customs (HMRC) announced on 6 March 2025 that it will shut down its free company filing software. This service allowed businesses and agents to submit company accounts and tax returns to both HMRC and
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UK companies house and HMRC to terminate combined online filing service
The UK Companies House has announced on 6 March 2025 that the joint filing service with HMRC will cease on 31 March 2026. Starting 1 April 2026, businesses will be able to submit their annual accounts to Companies House via third-party software,
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UK: Finance Bill 2025 moves to House of Lords for final approval
UK’s Finance Bill 2024-25 has now moved to the House of Lords, where it had its first reading on 4 March. The Bill has passed through the House of Commons where MPs debated during the report stage on 3 March 2025, approving 66 amendments
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UK: HMRC opens consultation on inheritance tax changes for trust property
The UK tax authority,His Majesty's Revenue and Customs (HMRC) has launched a consultation on the application of inheritance tax changes to property settled into trust on 27 February 2025. At Autumn Budget 2024, the government announced several
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UK: HMRC updates R&D tax relief guidance on qualifying expenditure and subcontracted activities
The UK tax authority, His Majesty's Revenue and Customs (HMRC) has revised its guidance in the Corporate Intangibles Research and Development Manual regarding qualifying expenditure and subcontracted activities for research and development (R&D)
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UK introduces reserved investor fund with tax-transparent status
The UK Government published the final Co-ownership Contractual Schemes (Tax) Regulations 2025 on 25 February 2025, introducing the Reserved Investor Fund (RIF), effective from 19 March 2025. The RIF is an unauthorised contractual scheme designed for
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UK: HMRC consults on replacing windfall tax with two new models
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has opened a consultation on proposals to replace the windfall tax on energy company profits when it expires in 2030. The government has considered policy options, including
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UK: Treasury releases consultation response on umbrella company compliance
The UK Treasury released stakeholder responses to a consultation on tackling non-compliance in the umbrella company market on 4 March 2025. The government plans to amend the Employment Rights Bill to regulate umbrella companies and place them
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UK further amends Finance Bill 2024-25
The UK tax authority, HMRC, announced further amendments to the Finance Bill 2024-25 on 25 February 2025, alongside explanatory notes on the revised provisions. The amendments also include: Clause 37 introduces new sections for claiming
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UK: HMRC releases final evaluation report on making tax digital for VAT
The UK tax authority, His Majesty's Revenue and Customs (HMRC) has released a final evaluation report on the effects of Making Tax Digital for VAT on 27 February 2025. A final evaluation report summarising the main evidence and conclusions of HM
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UK: HMRC simplifies e-communication rules for tax filings
The UK’s tax authority, His Majesty’s Revenue and Customs (HMRC), has introduced new rules that will take effect on 11 March 2025. These rules aim to prevent minor errors in electronic tax submissions from causing issues. The UK’s tax
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UK unveils tax relief and incentives for film and TV industry
The UK HM Treasury has announced new tax incentives to support the film and television industry, including business rates relief for studios and enhanced credits for production costs on 16 February 2025. Film studios are to receive business rates
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Andorra, UK sign tax treaty
The Government of Andorra announced the signing of a Double Taxation Agreement (DTA) with the UK on 20 February 2025. The agreement, formalised by Noëlia Souque, Andorra's Secretary of State for International Financial Affairs, aims to eliminate
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