New Zealand and the UK resume tax agreement negotiations
New Zealand and the UK resumed negotiations in March 2025 to finalise a new Double Tax Agreement (DTA) aimed at addressing income and capital gains tax matters. The objective is to replace the existing DTA, which was signed in 1983, with an
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UK: HMRC unveils vaping stamps, tax overhaul
The UK’s Treasury and HM Revenue and Customs (HMRC) published responses to consultations on various tax and customs matters on 28 April 2025. These include a new duty stamps scheme for vaping products, changes to customs procedures for postal
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UK: HMRC launches consultation on changes to soft drinks levy, landfill tax, stamp duty, and other fiscal measures
The UK Treasury and His Majesty's Revenue and Customs (HMRC) have launched a series of public consultations on proposed changes to a range of taxes. These include the soft drinks industry levy, landfill tax, stamp duties, and gambling duty, along
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UK: HMRC consults transfer pricing framework, permanent establishment rules, diverted profits tax
The UK’s tax authority, His Majesty’s Revenue and Customs (HMRC) has launched consultations seeking public input on potential updates to the UK’s transfer pricing framework, permanent establishment rules and the diverted profits tax on 28
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UK: HMRC issues new VAT grouping guidance for care sector to combat tax avoidance
The UK tax authority, His Majesty's Revenue and Customs (HMRC) has issued new guidance on VAT grouping in the care sector to curb tax avoidance. Published in Revenue and Customs Brief 2 (2025) on 24 April 2025, the update clarifies HMRC’s stance
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UK: HMRC launches consultation to improve dispute resolution process
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) launched a public consultation on 28 April 2025 to update and improve its dispute resolution process. The initiative seeks to support taxpayers in recognising and using the most
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UK launches technical consultation on 2027 carbon border tax
The UK's tax authority, His Majesty’s Revenue and Customs (HMRC) has opened a technical consultation on draft primary legislation for the UK’s planned carbon border adjustment mechanism (CBAM) on 24 April 2025, which is scheduled to come into
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UK: HMRC urges sole traders and landlords to prepare for making tax reporting digital by April 2026
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has reminded sole traders and landlords with an income over GBP 50,000 that they have less than a year to prepare for Making Tax Digital for Income Tax (MTDIT), which takes effect on 6
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UK: HMRC publishes report on R&D tax reliefs, expenditure credit, patent box
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has released a report, which was commissioned to BMG, on regional data on Corporate Tax reliefs on 24 April 2025, detailing research on R&D tax relief for SMEs, the R&D
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UK: HMRC issues penalty guidelines for AEOI non-compliance
The UK tax authority, His Majesty's Revenue and Customs (HMRC) issued guidance (CC/FS46) on 14 April 2025, detailing the penalties that financial institutions may face for failing to comply with Automatic Exchange of Information (AEOI)
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UK: HMRC updates interest rates for late and early tax payments from April 2025
The UK’s tax, payments and customs authority (HMRC) has updated its guidance on interest rates for late and early tax payments on 27 March 2025. This rate was effective from 6 April 2025. The late payment interest rate will rise by 1.5
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UK lists territories with qualifying IIR and DMTT under Pillar Two rules
The UK’s Pillar Two Multinational Top-up Tax (MTT) rules recognise certain foreign income inclusion rules (IIR) and domestic top-up taxes as "qualifying" if they align with OECD standards. To provide clarity, the government introduced regulations
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UK consults advance tax clearance service for large innovative investment projects, transfer pricing treatment of CCAs
The Chancellor of the Exchequer announced that the government launched a consultation on a proposed new service aimed at providing advance statutory certainty on the application of UK corporation tax rules for businesses undertaking the "very
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UK: HMRC announces increase in late payment interest rates for unpaid taxes
The UK’s tax, payments and customs authority (HMRC) has published a policy paper on 26 March 2025 outlining an increase in the late payment interest rate for unpaid tax liabilities by 1.5 percentage points. This change will take effect from 6
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UK: HMRC launches consultation on tax certainty for major projects
The UK’s tax, payments and customs authority (HMRC) has initiated a public consultation on 26 March 2025 to gather opinions on a new process that aims to provide major projects with greater certainty regarding the tax that will apply in
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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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