Corporation Tax News

The UK government has put forward 66 amendments to Finance Bill 2025 to be considered at Report Stage on 3 March 2025.

These Regulations are made to set out tax rules for a new type of investment fund, the Reserved Investor Fund (Contractual Scheme) (RIF), and its investors. In addition, they make minor changes to the tax rules for Co-ownership Authorised Contractual Schemes (CoACS), a similar type of investment fund.

The OECD has published a consolidated report which incorporates the agreed materials on Amount B that have been released by the Inclusive Framework from February 2024 up until December 2024.

The 2025 UK-Andorra Double Taxation Convention was signed in London on 20 February 2025.

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

HMRC has updated its detailed tax guidance for charities. Chapter 6 on claims and returns has been updated and Chapter 1 and Annex v have been withdrawn.

HMRC has updated its pages on creative industry tax reliefs to add guidance on checking if a production qualifies for relief and to confirm that from April 2025 the CT600P creative industries supplementary page must be included with a return.

HMRC has published Issue 128 of the Agent Update which includes updates and reminders on MTD for income tax, employers NIC changes and filing of returns without an overlap relief figure.

The CIOT have issued a response to HMRC’s call for evidence on Personal Tax: Offshore Anti-Avoidance legislation.

This Order specifies the standard rate and lower rate for Scottish landfill tax for disposals on or after it comes into force on 1 April 2025.

These Regulations are made to amend the Income and Corporation Taxes (Electronic Communications) Regulations 2003, SI 2003/282 to so that an insignificant technical error, in an electronic delivery to HMRC of information to which SI 2003/282 apply, does not completely invalidate the delivery. They ensure that the significance of any failure to adhere to the technical conditions is taken into account in assessing the validity of an electronic delivery.

The CIOT has published its response to the Review of Double Taxation Treaties 2025/26.

A 40% business rates relief for film studios in England is being rolled out from 17 February 2025.

17 February 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 prescribe the standard rate, lower rate and unauthorised disposals rate for landfill disposals tax chargeable on taxable disposals (within the meaning of Part 2 of the Landfill Disposals Tax (Wales) Act 2017) made on or after 1 April 2025

HMRC is reducing the late-payment interest rate to 7.00% and the repayment rate to 3.50% from 25 February 2025 for most taxes and payments. Interest on quarterly instalment payments of corporation tax will also be reduced from 17 February.

10 February 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 the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (LTTA 2017) to amend Schedule 13 (relief for acquisitions involving multiple dwellings) which provides a relief from land transaction tax in relation to acquisitions involving multiple dwellings.

These Regulations are made to designate areas, known as ‘special tax sites’, as special areas for the purposes of Parts 2 (plant and machinery allowances) and 2A (structures and buildings allowances) of the Capital Allowances Act 2001 and Part 4 (stamp duty land tax) of the Finance Act 2003.

The UK is suspending the Russia and Belarus Double Tax Treaties from April 2025.