HMRC have released Employment-Related Securities (ERS) Bulletin 68, which focuses on changes to ERS net settlement reporting requirements, Save As You Earn (SAYE) guidance and Enterprise Management Incentives (EMI).
SME Tax News
An independent report has been published by the University of London, 'Tax complexity: impact on UK competitiveness and growth'. It revisits the Office of Tax Simplification (OTS) 2014 review of the competitiveness of the UK’s tax administration, seeking to assess progress made since that date.
In Cogefin (Bermuda) Limited & Anor v HMRC [2026] TC09969, the First Tier Tribunal (FTT) found that a Bermudian incorporated company owned by a trust was UK tax resident. Central management and control was exercised by a UK resident beneficiary despite the company directors all being resident in Bermuda.
Hello,
One of this week's major announcements is confirmation that, on 28 October, the Chancellor will present the 2026 Budget. When John Healey rises to deliver his first Budget speech since taking office, just a few months into Andy Burnham's time as Prime Minister, it will be a significant moment for UK fiscal policy, as the new leadership team sets out its economic priorities in full.
In Lexgreen Services Limited v HMRC [2026] UKUT 00289, the Upper Tribunal (UT) upheld the decision of the First Tier Tribunal (FTT) finding that a company had a ‘life’ for Inheritance Tax (IHT) purposes. This meant that a corporate settlor was liable to IHT arising on a non-resident trust’s ten-year anniversary.
In The Executors of Keith Denis Lewis Beresford (Deceased) v HMRC [2026] UKUT 00285, the Upper Tribunal (UT) remade a First Tier Tribunal (FTT) decision, dismissing the Executors' appeal because a company's serviced office income was wholly or mainly investment income, refusing Business Property Relief (BPR).
In Scott Knight v HMRC [2026] TC09962, the First Tier Tribunal (FTT) refused HMRC's application to strike out an appeal against a closure notice which gave rise to a Capital Gains Tax (CGT) charge on an undeclared capital distribution.
The Low Incomes Tax Reform Group (LITRG) has published a report highlighting payroll errors in workplace pension tax relief, warning that confusion between Net Pay Arrangements (NPAs) and Relief At Source (RAS) schemes may be leading to incorrect tax relief, employer PAYE non-compliance, inaccurate HMRC data and risks to the government's forthcoming low-earner pension top-up scheme.
HM Treasury is inviting representations from stakeholders ahead of the 2026 Autumn Budget on 28 October 2026. The portal for representations closes on 9 September 2026.
HMRC have released Employment-Related Securities (ERS) Bulletin 67, which focuses on accessibility improvements to the ERS end of year templates, guidance and technical notes from 6 April 2027.