The number of live cases being reviewed under the Corporate Criminal Offences (CCO) legislation has increased slightly in the last six months, while no further charging decisions have been secured.
SME Tax News
In Jeremy John Hosking v HMRC [2026] TC09824, the First Tier Tribunal (FTT) found that political donations made by the appellant were not made from normal expenditure and were liable to Inheritance Tax (IHT).
Hello,
The world of tax never sleeps, and this week’s larger-than-normal SME tax news brings several very important updates for agents. These include HMRC’s proposals for enhanced reporting of transactions between close companies and their owners, the Royal Assent of Finance Act 2026, and a proposal to bring individuals, trusts and additional taxes within the scope of the Uncertain Tax Treatment (UTT) regime.
From 1 April 2026, HMRC have new powers to deal with dishonest tax advisers. The new 'sanctionable conduct powers' replace the previous dishonest conduct powers, with many professional bodies criticising the new rules for being too broad.
Revenue Scotland has released a consultation, 'Communications from Revenue Scotland to taxpayers', in which it has outlined proposals to use electronic communication as the default method for corresponding with taxpayers. A postal service will still be available for those opting out or who are digitally excluded.
HMRC have confirmed that they will introduce Multi-factor Authentication (MFA) for agent accounts as part of their efforts to combat the continued and evolving threat to online security.
HMRC have launched a consultation 'Opportunities to Extend Uncertain Tax Treatment', which seeks opinions on bringing individuals and trusts within the Uncertain Tax Treatment (UTT) regime and extending its scope to include other taxes such as Inheritance Tax, Capital Gains Tax and Stamp Duty Land Tax.
HMRC have launched a consultation, 'Reporting company payments to participators - modernising the reporting framework'. It proposes new rules that would make the reporting of transactions between close companies and their participators mandatory.
HMRC have launched a consultation, 'Modernising and standardising company tax returns'. It seeks feedback on the timeline for the new prescribed format for company tax returns and mechanisms ensuring compliance.
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