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The CIOT has published its response to the consultation on enhancing HMRC's ability to tackle tax advisers facilitating non-compliance.

Details of updates to HMRC import export and customs guidance for the period from 13 to 20 May 2025.

19 May 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

These Regulations are made to amend a piece of UK secondary legislation in relation to financial services and markets. They provide for the testing of the efficiency and effectiveness of a new kind of share-trading system, the Private Intermittent Securities and Capital Exchange System, or PISCES. The PISCES sandbox is a financial markets infrastructure (FMI) sandbox provided at sections 13 to 17 of the Financial Services and Markets Act 2023. FMI sandboxes provide for the testing of new or developing technologies or practices in FMI activities, and for the testing of whether or how relevant enactments should apply to the operation of those new technologies or practices. They are made in exercise of legislative powers under the Financial Services and Markets Act 2000 (FSMA 2000) and the Financial Services and Markets Act 2023 (FSMA 2023) in connection with assimilated law.

These Regulations are made to increase the penalties for late payment of tax in Schedule 26 to the Finance Act 2021 (FA 2021).

HMRC has published Issue 131 of Agent Update, providing a round-up of updates and reminders for tax practitioners.

These Regulations are made to amend the Value Added Tax Regulations 1995, SI 1995/2518 to address an administrative inflexibility and ensure the effective management of Value Added Tax (VAT).

The CIOT has published its response to HMRC's consultation on promoting electronic invoicing (e-invoicing) across UK businesses and the public sector.

HMRC publishes guidance on the Cryptoasset Reporting Framework (CARF), outlining new obligations to collect and report user data.

The president of the First-tier Tribunal (Tax Chamber) has issued a practice statement that sets out how taxpayers and HMRC can turn to Alternative Dispute Resolution (ADR) once a formal appeal is under way.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

HMRC late-payment and overpayment interest rates have been reduced to reflect the recent Bank of England decision to cut the bank base rate.

12 May 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

SI 2025/561: These Rules are made to provide amendments to the Rules of procedure that apply to the First-tier Tribunal and to the Upper Tribunal (the Tribunal Procedure Rules), to expressly provide that the tribunal has the power to set aside a decision on its own initiative. They come into force on 30 May 2025.

HMRC has updated the SAYE bonus rates and early leaver rate from 23 May 2025.

This Order is made to specify fourteen securities as ‘gilt-edged securities.

HMRC has published Spotlight 70 highlighting tax avoidance arrangements used by state-regulated care providers to reclaim VAT.

HMRC has published its latest Stakeholder Digest (6 May 2025).

6 May 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

LPC launches consultation seeking views on NMW and NLW from April 2025