Hello,
Last Thursday saw the publication of the 2025-26 Finance Bill, which, when passed, will legislate proposals such as the reform of Inheritance Tax and, from next May, the mandatory registration of tax advisers with HMRC.
SME Tax News
HMRC and the Department for Business and Trade have released their consultation outcome, 'Promoting electronic invoicing across UK businesses and the public sector'. As a result of the consultation, the government is introducing mandatory electronic invoicing for all VAT invoices from 2029.
HMRC have released the outcome of their consultation on 'The taxation of decentralised finance (DeFi) involving the lending and staking of cryptoassets'. HMRC are considering deferring gains on certain DeFi lending and staking transactions until an economic disposal of the cryptoasset is made.
Missed our SME Tax Updates in November? Here is a summary of the month.
In County Insurance Services Limited v HMRC [2025] TC09697, the First Tier Tribunal (FTT) found that amortisation relief was not available on goodwill following a partnership's incorporation.
HMRC have released Employment-Related Securities (ERS) Bulletin 62. It contains details from Autumn Budget 2025, including on the Private Intermittent Securities and Capital Exchange System (PISCES), Enterprise Management Incentives (EMI) and the published summary of responses to the Share Incentive Plans (SIP) and Save As You Earn (SAYE) 2023 call for evidence.
The government has released a call for evidence seeking opinions on reforming business rates and investment. The aim is to explore how moving to a marginal tax rate, where successive bands are taxed at increasing rates, may be beneficial for investment.
Hello,
We cover a wide range of topics this week, including the Loan Charge, share schemes, behavioural penalties and Research & Development, to name only a few. In addition, following last week’s Budget, the Overview of Tax Legislation and Rates (OOTLAR) was finally published on Friday.
The government has published a response to the 2025 Independent Loan Charge Review. With retrospective effect from 5 April 2019, a settlement opportunity will be introduced to encourage those who have not settled their disguised remuneration loan charge with HMRC to date.
The government has published a response to its consultation 'Reform of behavioural penalties'. The responses highlighted a need to simplify and modernise the current penalty regime for inaccuracies in returns and the failure to notify chargeability to tax.
