Hello,
With so much speculation about what might happen in next week’s Budget, HMRC’s October Agent Update contains a reminder of one significant change that is already confirmed. From 6 April 2027, most unused pension funds and pension death benefits will be brought within the value of a deceased person’s estate for Inheritance Tax (IHT) purposes.
HMRC have published guidance outlining penalties for UK-based digital platform operators for not meeting their reporting and filing obligations. Penalties of up to £5,000 can be charged for each obligation not met.
In Timothy Bunting v HMRC [2026] EWCA Civ 1331, the Court of Appeal (CoA) agreed with the Upper Tribunal (UT) that relief for a capital loss on a loan to a trader was not available. The loan had been released in exchange for shares before the loss relief claim was made, so it was no longer ‘outstanding’.
HMRC have clarified that individual and corporate trustees do not need to register under the mandatory tax adviser registration rules when they interact with HMRC solely in their capacity as a trustee.
HMRC have concluded that the Cabinet Office failed to take reasonable care when applying the Off-Payroll Working (IR35) rules. The Cabinet Office has set aside £38.5m for unpaid Income Tax, National Insurance and interest. A penalty of up to £8.9m could follow.
HMRC have published their Agent Update for October 2026. We have summarised the key content, including details on voluntary registration for non-mandatory payrolling of Benefits in Kind, information on the changes coming to Inheritance Tax on pensions in April 2027, and useful reminders when filing Company Tax Returns.
Hello,
With less than a fortnight before the Chancellor presents his first Budget, the Institute for Fiscal Studies’ Green Budget 2026 report highlights some of the difficulties he faces. Rising inflation, higher borrowing costs and debt at historic highs leave him little room to manoeuvre.
In RDM Wines Limited v HMRC [2026] TC10019, the First Tier Tribunal (FTT) found that a project aimed at creating recyclable packaging for fine wine did not meet the conditions for a valid Research & Development (R&D) claim. RDM had not proved the R&D project it claimed for had taken place, and the limited activity it could prove did not qualify.
In August 2026, HM Treasury invited stakeholder representations ahead of the 2026 Autumn Budget. We take a look at the representations made by some of the professional bodies.
Hello,
Was a Heathrow hotel stay between long-haul flights a taxable benefit for British Airways cabin crew, given that Heathrow was their home base? In HMRC v British Airways Plc (BA), around £5.8m of tax and National Insurance Contributions (NICs) turned on that question.
