The Welsh Revenue Authority (WRA) has published the outcome of its consultation 'Legislative Proposals Relating to the Welsh Tax Acts'. While there was general support for the proposals made, it will be for the next Welsh government to decide whether to take them forward.
A new loans to participators tool has been published that allows companies, participators and their agents to confirm to HMRC that a participator has fully repaid a loan declared on a company's tax return. HMRC have also advised that the Corporation Tax online service will not be updated to reflect the increased s.455 tax rates until 6 April 2027.
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The taxation of stablecoins, online filing exclusions for 2025-26, tax relief for intangible asset amortisation and reasonable care when considering compliance with the Construction Industry Scheme (CIS) are among this week’s topical issues.
In Muller UK and Ireland Group LLP & Ors v HMRC [2026] EWCA Civ 248, the Court of Appeal (CoA) found that the related party restriction on claiming deductions for intangible assets applied to the Limited Liability Partnership (LLP) and its corporate members. As a result, the taxpayer's amortisation deductions were denied tax relief.
HMRC has published a call for evidence on the 'Taxation of stablecoins', a type of cryptoasset. It seeks opinions on issues around the tax treatment of stablecoins for both individuals and companies.
In Kalinga Holdings Limited v HMRC [2026] TC09812, the First Tier Tribunal (FTT) found that a company that purchased an old office building to convert into residential flats was liable to make deductions under the Construction Industry Scheme (CIS) and it had not taken reasonable care to comply with that obligation.
In HMRC v Christopher Brzezicki [2026] UKUT 00125, the Upper Tribunal (UT) allowed an appeal from HMRC, ruling that a property purchase that included a fishing stream and a separate island was residential for Stamp Duty Land Tax (SDLT) purposes.
HMRC have clarified the best routes to notify them when all of a sole trader or landlord's Making Tax Digital (MTD) relevant income has ceased before April 2026. This can be done via webchat or telephone by the taxpayer or their agent.
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Headlines this week include HMRC’s latest Agent Update, Revenue Scotland’s digital by default proposals, research on attitudes towards e-invoicing amongst SMEs, HMRC’s new sanctionable conduct powers and the latest changes to the Construction Industry Scheme (CIS).
With just days to go before the introduction of Making Tax Digital (MTD) for Income Tax (IT), HMRC have written to more taxpayers who will be mandated into the regime from 6 April 2026.
