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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UK: Treasury Forms global group to assess CBAM impact
The UK Treasury has announced the need for a UK Carbon Border Adjustment Mechanism (CBAM) group to gather insights from international partners on the UK CBAM and provide updates on 11 February 2025. The Autumn Budget 2024 confirmed that the
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UK launches consultation on e-invoicing
The UK's tax authority, His Majesty's Revenue and Customs (HMRC) launched a 12-week public consultation (Promoting electronic invoicing across UK businesses and the public sector) regarding the adoption of electronic invoicing (e-invoicing) across
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UK issues new alcohol duty regulations
The UK's tax authority, His Majesty's Revenue and Customs (HMRC) has published new regulations and updated guidance on alcohol duty, detailing implementation rules under the Finance (No. 2) Act 2023. The Alcohol Duty Regulations SI 2025/96,
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UK Public Accounts Committee highlights underestimated tax evasion costs
The UK Parliament's Public Accounts Committee has published a report on 12 February 2025 cautioning that the actual cost of tax evasion is probably being underestimated. HMRC not sufficiently curious on true scale of evasion, with no strategy for
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UK: HMRC reduces interest rates for late payments, overpayments
The UK's tax authority, His Majesty's Revenue and Customs (HMRC), has announced a reduction in interest rates for late payments and overpayments of taxes: The new rates are 7% for late payments and 3.5% for overpayments. This development follows
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UK: HMRC late payment interest rates to be revised after Bank of England lowers base rate
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has announced a reduction in interest rates for late payments and repayments following the Bank of England's base rate cut on 6 February 2025. The base rate was lowered from 4.75%
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UK: HMRC amends Pillar Two rules
The UK tax authority, His Majesty’s Revenue and Customs (HMRC), published amendments to the Finance Bill 2024-2025 on 27 January 2025, introducing changes to the UK’s Pillar Two regulations. The bill includes modifications to the Undertaxed
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UK to suspend 1994 tax treaty with Russia
The UK's tax, payments and customs authority (HMRC) has announced that the 1994 tax treaty with Russia will be suspended starting 6 April 2025 for income tax and capital gains tax. The suspension will extend to corporation tax and all other taxes
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UK: HMRC Releases 2025-2026 employer rates and PAYE tax thresholds
The UK HMRC has issued guidance on employer rates and thresholds for the 2025-2026 tax year, covering the period from 6 April 2025 to 5 April 2026 on 31 January 2025. This covers the PAYE tax rates and thresholds for 2025-2026 for England,
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UK: HMRC announces suspension of tax treaty with Belarus
The UK HMRC has announced that the 2017 tax treaty with Belarus will be suspended on 6 April 2025, for income tax and capital gains tax, and on 1 April 2025, for corporation tax and other taxes. This announcement was made by UK HM Revenue &
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UK: House of Commons votes to enshrine fiscal rules in law, strengthening economic stability
The House of Commons voted to enshrine the Charter for Budget Responsibility and the new fiscal rules into law on Wednesday, 29 January 2025. These fiscal rules provide the stability which underpins the Plan for Change and the Government’s
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UK introduces new tax regulations for self-assessment returns
The UK tax authority, His Majesty's Revenue and Customs (HMRC), has introduced new regulations requiring taxpayers to provide additional details in their annual self-assessment tax returns. The Income Tax (Additional Information to be included in
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UK: HMRC consults multinational, domestic top-up tax guidance
The UK tax authority, HMRC, has opened a public consultation on the supplementary draft guidance regarding the Multinational Top-up Tax and Domestic Top-up Tax on 28 January 2025. This release of draft guidance contains sections on flow-through
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UK: HMRC publishes transfer pricing, diverted profits tax data for 2023-24
UK tax authority, HMRC, released a transparency data report covering statistics on transfer pricing and Diverted Profits Tax through the end of the 2023-24 tax year on 27 January 2025. The report contains data on the following: Transfer
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