HMRC have published their Agent Update for March 2026. We have summarised the key content, including a reminder of the new PAYE responsibilities in labour supply chains, the removal of voluntary National Insurance Contributions (NICs) for periods abroad, and the final push on getting your clients ready for Making Tax Digital for Income Tax.
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.
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.
Missed our SME Tax Updates in February? Here is a summary of the month.
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 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, '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.
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.
In Putney Power Limited and Piston Heating Services Limited v HMRC [2026] UKUT 00105, the Upper Tribunal (UT) found that Enterprise Investment Scheme (EIS) relief was not available on shares issued by the companies, as neither was trading before the relevant deadline.
Finance (No. 2) Bill 2025-26 received Royal Assent on 18 March 2026 to become Finance Act 2026. It contains a number of key measures, including the mandatory registration of tax advisers and the reform of Agricultural Property Relief and Business Property Relief.
