UK completes massive steel quota rollover as new biofuel duties take effect
This week's UK tariff activity was defined by a massive administrative cycle that finalised the third-quarter steel tariff rate quota regime, accounting for the vast majority of the week's more than 7,300 changes. This large-scale but routine update
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UK pivots from Q3 tariff reset to new trade defence measures
The start of the third quarter triggered a vast, scheduled administrative reset of the UK tariff, with over 18,000 measures taking effect to renew steel safeguard quotas, agricultural TRQs, and anti-dumping duties on fertilisers. This foundational
See MoreUK activates CPTPP rates for Mexico amidst Widespread Tariff RestructuringÂ
The UK's trade landscape was reshaped by over 17,000 regulatory changes this week, a volume dominated by administrative restructuring and targeted policy implementation. The strategic headline was the activation of new 0% duty rates for Mexican beef
See MoreUK, Sweden sign MOU on arbitration procedures for tax treaty disputes
The UK and Sweden have agreed a Memorandum of Understanding (MOU) establishing detailed procedures for conducting arbitration under Article 23 of the Convention between the UK of Great Britain and Northern Ireland and the Kingdom of Sweden for the
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UK: Supreme Court rules deferred partner profits taxable as miscellaneous income under Section 687
The UK Supreme Court ruled on 17 June 2026 that payments received by partners under a deferred remuneration scheme are taxable as miscellaneous income under section 687 of ITTOIA 2005, upholding the Court of Appeal's decision in HMRC v HFFX LLP
See MoreUK, Sweden publish MoU on tax treaty arbitration procedures
The UK's HM Revenue & Customs (HMRC) has published a memorandum of understanding (MoU) with Sweden setting out the arbitration procedures under Article 23 of the 2015 UK-Sweden Double Taxation Convention, as amended by the 2021 Protocol. The
See MoreUK confirms no Pillar Two late-filing penalties for returns filed before August 2026
UK’s tax authority, HMRC, has updated its Pillar Two guidance on 26 June 2026, confirming that under its transitional approach to implementing the Pillar Two top-up taxes, it will not impose late filing penalties for UK tax returns, overseas
See MoreUK: HMRC issues guidance on Pillar Two multinational top-up tax, domestic top-up tax returns
The UK’s His Majesty’s Revenue and Customs (HMRC) has published a guidance, on 30 June 2026, on the process for submitting returns for Pillar Two top-up taxes in the UK, Pillar Two top-up taxes submission of returns (Notice 3). This notice
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UK: HMRC consults VAT relief for social housing land
The UK’s His Majesty Revenue and Customs (HMRC) has launched a public consultation on the VAT treatment of land sales intended for the construction of new social housing, including a proposal to introduce a new VAT zero-rate on 23 June
See MoreUK: HMRC proposes capital gains tax relief changes for business asset gifts
The UK’s His Majesty's Revenue and Customs (HMRC) has published a policy paper and draft legislation setting out reforms to the Capital Gains Tax (CGT) relief available for gifts of business assets. The policy paper, published on 23 June 2026,
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UK consults mandatory registration for customs intermediaries
The UK’s HMRC has launched a consultation on plans to introduce mandatory registration for customs intermediaries that submit customs declarations on behalf of traders, as part of wider efforts to improve compliance, protect revenue and
See MoreUK announces reforms to simplify tax system, strengthen customs enforcement
The UK government has unveiled a broad package of tax and customs reforms aimed at simplifying compliance, expanding digital services and strengthening tax enforcement. Announced in a statement by Exchequer Secretary to the Treasury Dan Tomlinson on
See MoreUK: HMRC clarifies electricity generator levy increase to 55% from July 2026
The UK’s HM Revenue & Customs has published a policy paper providing clarification of the increase in the Electricity Generator Levy (EGL) on 17 June 2026. As previously announced, the EGL rate will rise from 45% to 55% with effect from 1
See MoreUK: HMRC consults draft International Controlled Transactions Schedule (ICTS)
The UK’s His Majesty's Revenue and Customs (HMRC) has launched a technical consultation regarding cross-border related party transactions on 16 June 2026, inviting views on the details of a draft International Controlled Transactions Schedule
See MoreUK: HMRC updates anti-avoidance rule for share exchanges, reconstructions
The UK’s HMRC outlined changes to Section 137 of the Taxation of Chargeable Gains Act 1992 (TCGA) that took effect on 26 November 2025, published in the Capital Gains Manual on the Anti-avoidance rule for share exchanges and company
See MoreUK: HMRC consults double taxation issues for UK residents in US LLCs
UK’s His Majesty's Revenue and Customs (HMRC) has initiated a consultation on 10 June 2026 regarding the measures to mitigate double taxation affecting UK-resident individuals who are members of United States limited liability companies (LLCs) and
See MoreUK: HMRC issues guidance for agents on accessing, updating Pillar Two top-up tax information
The UK's His Majesty's Revenue and Customs (HMRC) has published guidance outlining how agents can access and amend a client's domestic top-up taxes and multinational top-up taxes (Pillar Two top-up taxes) information through its online
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Azerbaijan, UK conclude first round of new tax treaty negotiations
Azerbaijan and the UK held the first round of negotiations in London on a new convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains, according to a 10 June 2026
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